The sale of 38846 Waterview Drive was the 17th lakefront home sale so far this year. Being that last year, 2011, saw only 16 lakefront sales in its entirety, I'd say the Big Bear lakefront real estate market has seen a remarkable comeback.
This latest sale was a 3887 square foot, 3 bed, 3.5 bath home in a prestigious, deep water location. The property is set back off the road with a shared private entrance. Although slightly dated, the home was in terrific shape and obviously well cared for by the previous owners.
Additional features of this home included a sizable landscaped yard with a beautiful lawn bordering the lake. There is also a gameroom/bar area as well as a wonderfully finished den/office area with wood coffered ceilings and fireplace. Lastly, there is a sizable workshop accessible from the 2 car garage.
Listed at 1.29M and selling at 1.25M, this property sold at $330 per square foot. This sale was a great value considering the quality of the property and that the current 2012 median price per square foot of sold Big Bear lakefronts is $383.
With only 31 lakefronts in Big Bear currently listed for sale, the market is still showing two factors that suggest potential future price increases - low inventory and increased number of sales. I am looking forward to the second half of 2012 and seeing the recovery continue.