MONTH TO MONTH COMPARISON

Good news! Comparing April of 2017 to last April, the number of sales are up, prices are up, days on market and sales price to list price ratio stayed about the same, while inventory of homes for sale remains low.

This April saw 88 Big Bear homes sold which is almost 8% higher than last year's 81 April closings.

The average and median sale prices of sold Big Bear homes are up 5% and 3% from last April to $298,941 and $259,250 respectively.

The average and median prices per square foot of sold Big Bear homes are up 16% and 8% to $229 and $214 respectively.

The average days on market rose slightly from 96 to 99 while the median rose slightly as well from 57 to 64.

The average sales price to list price ratio of sold Big Bear homes stayed steady at 97%, showing that sellers on average conceded about 3% off of their list price in negotiations.

YEAR TO DATE COMPARISON

Good news again! Comparing sales of Big Bear homes from January 1st to April 30th of last year to that of the same time period this year, we also see gains in all price measures.

Last year, there were 327 Big Bear homes sales through the end of April whereas this year that number rose about 6% to 345 closings.

The average and median sales prices of Big Bear homes rose 4% and 5% to $311,378 and 257,040 respectively.

The average and median prices per square foot of Big Bear homes gained 7% and 4% to $218 and $208 respectively.

Days on market is down slightly from 110 last year to 107 this year while the sales price to list price ratio stays steady at about 97%.

As for home inventory, there are currently 389 Big Bear homes listed for sale in the Big Bear MLS. Last year, there were 528. This unusually low supply of homes on the market suggests that the negotiation advantage leans towards the sellers.

SUMMARY

With sales of Big Bear homes up and inventory of homes for sale remaining low, we are likely to see the Big Bear real estate market remain strong through the foreseeable future. Interest rates remain low and the economy of Southern California remains strong as well, while locally Big Bear lake's water levels have rise about 6 feet from last December's low point and our local resorts are in the process of being purchased by Aspen Ski Co.-KSL Capital Partners.

With all these positive forces affecting the market currently, things are looking good for Big Bear real estate!