Based on the January home sales report below, I don’t know who is hurting more right now, the real estate agents in Big Bear or the home sellers. With only 29 home sales closed in the Big Bear Lake area during January 2008, times are tough for both I would imagine.
The news great for buyers as there are some motivated sellers, lots of properties to choose from (approx. 1094 as of Jan .31), lower prices & lower interest rates.
January home sales were down 47% in Big Bear compared to the previous month (55) and down 47% from Jan. 2007’s number of 55 homes sales.
The median price (which is not very accurate which such a small sample) was surprisingly up a modest 5% compared to Dec. 2007 but down 12% compared to the same month last year.
This is the first month that I am using the number of homes listed and median asking price. I cannot go back and pull this data the same as sales so I will have to keep it updated from this point.
| Month and Year | # Homes For Sale | Median Asking $ | # Homes Sold | Median Sold $ |
|---|---|---|---|---|
| Jan 2008 | 1094 | $339,900 | 29 | $287,500 |
| Dec 2007 | 55 | $273,750 | ||
| Nov 2007 | 66 | $282,500 | ||
| Oct 2007 | 53 | $310,000 | ||
| Sept 2007 | 60 | $269,750 | ||
| Aug 2007 | 81 | $310,000 | ||
| July 2007 | 70 | $293,450 | ||
| June 2007 | 59 | $350,000 | ||
| May 2007 | 81 | $309,900 | ||
| April 2007 | 59 | $340,000 | ||
| Mar 2007 | 82 | $311,100 | ||
| Feb 2007 | 78 | $302,500 | ||
| Jan 2007 | 55 | $325,000 | ||
| Dec 2006 | 95 | $320,000 | ||
| Nov 2006 | 90 | $392,000 | ||
| Oct 2006 | 96 | $270,000 | ||
| Sept 2006 | 97 | $340,000 | ||
| Aug 2006 | 118 | $311,450 | ||
| July 2006 | 78 | $299,950 | ||
| June 2006 | 115 | $300,000 | ||
| May 2006 | 106 | $325,000 | ||
| April 2006 | 92 | $311,500 | ||
| Mar 2006 | 100 | $322,500 | ||
| Feb 2006 | 95 | $299,000 | ||
| Jan 2006 | 90 | $340,500 |
I am actually quite surprised by these numbers as things seemed to be picking up the last 3-4 weeks. There has been increased property calls and more properties going into escrow (currently there are 91 homes in escrow).
I guess this will show itself more in the Feb. and March sales number but we will have to wait and see on that.
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