Although we experienced our snowiest winter in quite some time, we still had a fair share of lakefront sales this winter as lakefront buyers anticipated higher water levels for Big Bear Lake this year. In fact, all four lakefront sales occurred this March as ski season is winding down and attention is turning toward the lake.
The first sale was 40074 Lakeview Drive. This shallow water 4 bed, 2 bath, 1216 square foot cabin was built in 1948 and is situated at the end of Mallard Lagoon. This property has a dock but the lake will need several more feet of water before it is floating. Having been listed several times over the past few years, this lakefront cabin listed for $499,900 and sold for $475,000 selling at $390 per square foot.
The next sale was 38967 Bayview Lane. This 4 bed, 3 bath, 2433 square foot lakefront sits on Boulder Bay with a dock currently in the water. Although built in 1974 and somewhat dated, this home has great lake views and spacious decking, complete with hot tub, from which to enjoy the great outdoors. Listed for $899,000 and selling for $860,000, this home closed at $353 per square foot.
The third Big Bear lakefront home sale was my listing at 743 Cove Drive. This 4 bed, 3 bath, 1719 square foot home has a unique octagon architecture style and is tucked among the boulders in a side cove off Boulder Bay. This home comes with a boat dock but the dock is currently beached. Also having been listed for a few years, this home was likely purchased in anticipation of future higher lake levels bringing greater appreciation. Listing at $779,000 and selling for $730,000, this home closed at $424 per square foot.
The most recent lakefront sale was 39475 North Shore Drive, a 3 bed, 2 bath, 1288 square foot home with a two car garage situated on a dry cove in the north shore town of Fawnskin. This was a probate sale in which I represented the buyer and seller. This was an investment opportunity in which a full lake would likely bring impressive returns. Listing at $525,000 and selling at $475,000, this home closed at $369 per square foot.
Considering the cold, wet winter we had and considering how difficult it was to show property this winter, I would consider the Big Bear lakefront real estate market off to a good start in 2017. As the snow in the surrounding mountains continues to melt and Big Bear lake continues to fill, I am certain we will see interest in lakefront homes increase towards summer.