Big Bear home sales as well as all four price measures were up in 2019 compared to 2018.

After 2018 saw an unusual dip, sales rebounded 11% in 2019 with 1241 closings. This was the second highest number of home sales we've seen on an annual basis in the past decade. I would attribute this rise in closings to a strong economy, historically low interest rates, a snowy winter resulting in the lake's water levels rising over 9 feet, and continued improvements at our local resorts and in our community in general.

 

 

This increased buyer demand for Big Bear homes pushed the average and median sales prices higher once again capping an impressive 9 year run. 

 

The average and median price per square foot of sold Big Bear homes rose as well for the 9th consecutive year.

 

The number of Days On Market (DOM) it took for a home to sell rose marginally but still remained below the 10 year average.

 

Home inventory stayed relatively stable with just a slight rise in the average number of homes listed for sale.

 

Mortgage interest rates have fallen in the past year and have stabilized in the remarkable sub-4% range. Continued low rates will help keep the real estate market strong.

 

Overall, 2019 was a great year for the Big Bear real estate market. Sales up, prices up, snowy winter, a more full lake, low interest rates, and a community that keeps investing in making Big Bear a more desirable place to vacation. More importantly, there are no signs that suggest that 2020 will be any different. 

Remember to check in regularly to my blog to keep update on the Big Bear real estate market's progress throughout the year!

Paul Zamoyta ~ 909.557.8285 ~ info@Zamoyta.com