Lakefront sales remain strong this summer with 220 Avon listing at $995,000 and selling after 62 days on market for $940,000. This lakefront is a 3 bed, 3 bath, 2384 square foot home on a 10,404 square foot lot with a 2 car garage. Additional features include a loft/game room area and included in the sale was a 2005 Bayliner boat.
This home is situated on a side cove off Mallard Bay with somewhat limited views. The cove on which this home is located was previously dredged for deeper water lake access.
Selling at $394 per square foot, this home sold slightly above the 2012 median sale price of $380 per square foot and $361 average price per square foot.
This home was the 21st lakefront sale of the year. With 2011 having had a total of only 16 sales, at this pace, we may double the total number of last year's sales! With 5 big bear lakefront homes currently in escrow and with 4 more months left in the calendar year, this certainly is a possibility.
The other encouraging sign for the lakefront real estate market is that there are currently only 26 Big Bear lakefront homes for sale. This is relatively low for this time of year. Last year, there were approximately 38 lakefronts for sale at this time.
Once again, the market has taken an undeniable turn for the better. Is this the market shift we've been waiting for? It sure does seem to be. But only time will tell!