This may be a little late but it is still informative to look at and compare the first quarter home sales for 2008 with that of the previous 5 years. It is pretty well known that home sales in Big Bear have slowed down tremendously. First quarter sales were off 48% from the first quarter of 2007 (and 2007 was the slowest year for the number of sales that we have seen in over 20 years) and 69% less than the first quarter of 2004, the best first quarter in the past 6 years. Year Q1 # of Home Sales Median Sales … [Read more...]
Absorption Rates For The Big Bear Real Estate Market – April 2008
April 28, 2008 by Leave a Comment
The time it will take to sell a house in Big Bear dropped by 10 months in April 2008. With the pick up in home sales that we saw in March, the absorption rate for the Big Bear real estate market dropped from 32.72 months to sell to 22.80 months to sell. This is encouraging news for home sellers though the market is still very heavily favored toward buyers. The market will need to get closer to a 1-3 month absorption rate in order to get back to a sellers market. Now that we are heading into the spring and … [Read more...]
Big Bear Home Sales On Par With Other Second Home Markets in U.S.
April 9, 2008 by 1 Comment
The National Association of Realtors recently released a report on second home sales that was reported on by The Dallas Morning News. The article states that second home sales nationwide dropped by more than 30% in 2007 when compared to 2006. This is pretty consistent with what we saw in the Big Bear real estate market in 2007. There were 1172 residential sales in 2006 as compared to 796 sales in 2007, a difference of 34%. I noticed a few important points to take from the article as it relates to the Big Bear … [Read more...]
Big Bear Residential Market Activity 3/31/2008 to 4/6/2008
April 8, 2008 by Leave a Comment
Below is a market update for residential properties in the Big Bear Valley during the week of March 31 to April 6. New listings and pending sales were up from the previous week while closed sales were down. The majority of closed sales continue to occur in the Big Bear Lake areas of Boulder Bay, Gilner Point, Ironwood Estates, Eagle Point, Fox Farm and Moonridge. The areas of Big Bear City, Erwin Lake, Baldwin Lake, Lake Williams and Sugarloaf are still seeing very few sales. Average days on the market for … [Read more...]
Big Bear Real Estate Monday Market Update For 4/7/2008
April 7, 2008 by Leave a Comment
Below is an update for the Big Bear real estate market as of 4/7/2008. The residential properties listed for sale in Big Bear are up 11 from 1078 homes for sale to 1089 total. The number of houses in escrow are up 16 from last week to 107 while sales year to date now stand at 114 Big Bear homes sold since the beginning of the year, up 7 from last week. Vacant land listings in Big Bear are up by 3 to 340 parcels now for sale. The number of pending sales are up 2 from last week for a total of 28 escrows for … [Read more...]
Big Bear Home Sales For March 2008
April 6, 2008 by Leave a Comment
The Big Bear real estate market saw an increase in homes sold in the month of March with a total of 46 48 homes sold. Historically speaking, this is still considered very slow sales activity, though it is nearly 60% 65%higher than January and 50% 54%higher than February of this year. The median sales price for homes sold in the month of March also increased, going up nearly 8% ($282,000) 10% ($2865,00) as compared to the previous month ($260,000). The median sales price is still down 2% only down $1000 from … [Read more...]
Big Bear Residential Market Activity 3/24/2008 to 3/30/2008
April 5, 2008 by Leave a Comment
Below is a real estate market update for residential properties in the Big Bear Valley during the week of March 24 to March 30. The market in Big Bear Lake and Big Bear City continues to be the main areas of activity when compared to Sugarloaf & Fawnskin. Given that there are 135 homes for sale in Sugarloaf, 1 closed sale and 1 pending sale this past week is drop in the bucket. At least with only 28 homes for sale, Fawnskin still has relativley few homes for sale and therefore less competition. Valley wide, … [Read more...]
Big Bear Real Estate Monday Market Update For 3/31/2008
April 1, 2008 by Leave a Comment
Better late than never they say. Below is the update for the Big Bear real estate market as of 3/31/2008. The residential properties listed for sale in Big Bear are down 25 from 1103 homes for sale to 1078. Part of the reason for the big jump down is that 15 homes came off the market this morning as expired listings. I would expect those properties will be re-listed soon and add to the numbers. So, the real net loss is closer to 10, or around 1093 houses for sale in Big Bear. Be on the look out for the number … [Read more...]
Big Bear Residential Market Activity 3/17/2008 to 3/23/2008
March 27, 2008 by Leave a Comment
Below is a market update for residential properties in the Big Bear Valley for the week of March 17 to March 23. Given that residential properties are the majority of sales in Big Bear, I have focused on this type of property. If you are interested in the stats for vacant land, commercial, or condos, please let me know. New, pending, and sold listings in Big Bear Lake were very similar to the prior week with no major swings noted. Pending listings in Big Bear City nearly doubled last week, up from 3 to 8, with … [Read more...]
Big Bear Real Estate Monday Market Update For 3/24/2008
March 24, 2008 by Leave a Comment
Below is the update for the Big Bear real estate market as of 3/24/2008. The residential properties listed for sale in Big Bear are up 22 from 1081 homes for sale to 1103. There are 51 more homes on the market now as compared to 5 weeks ago when I started tracking these numbers. The number of homes in escrow is down 1 from last week to 91 while home sales year to date are now at 92 Big Bear homes sold since the beginning of the year, up 10 from last week. That makes for 23 homes sales in the past two … [Read more...]
