The market didn't slow down much in 2021 where demand for Big Bear homes was at all-time highs while the supply of homes fell significantly. This high demand and low supply in the Big Bear real estate market pushed prices even higher after their 2020 record run.
The following graphs quantify this narrative putting the Big Bear real estate market's movement over the past couple years into a 10 year perspective.
The past two years are the two highest years on record for Big Bear home sales. Demand was at an all time high.
While demand stay high, the number of Big Bear homes for sale hovered near record lows. The supply of homes currently on the market still remains remarkably low.
The high demand and low supply pushed Big Bear home prices to all-time highs with record price jumps over the last two years.
The price per square foot of Big Bear homes followed suit with record increases as well with 2021 ending at an all-time high of almost $400/sf.
With the supply and demand dynamic so unbalanced right now, prices seem poised to continue to rise for the foreseeable future. The inventory of homes would have to triple or quadruple to see a more typical balanced market, but there has been no evidence suggesting this will happen anytime soon.