The latest home sale on Big Bear Lake closed at the highest price per sqaure foot of any Big Bear lakefront so far this year. Listing at 2.2M and selling at 1.85M, at 3568 square feet, ths home sold at an impressive $518 per square foot!
39155 Seminole, located in the north shore village of Fawnskin, is a 3 bed, 3 bath home built in 2000 and is situated on almost an acre of waterfront land. This home has many updated amenities and finishes as it is a relatively recent construction. The yard is fully landscaped and is flat and usable. Although this lakefront is located at the mouth of one of the lake's main tributaries, it is on the shallower side as far as lake depth goes.
This home was on the market for 622 days before selling and sold for 16% below list price.
This latest sale continues several positive market trends for the Big Bear lakefront real estate market. Selling at the highest price per square foot this year, this sale suggests a trend of increasing lakefront values. It is also encouraging to see a property that has been listed for so long finally sell. This suggests to me that with the currently low inventory of lakefront homes for sale, buyers are choosing homes that otherwise hadn't sold for years. Lastly, selling at 1.85M, this home is the latest of the many sales we've had in the higher end price range. After years of dormancy, we have seen a huge uptick in sales in the 1.75M plus range after years of predominantly smaller, less expensive lakefronts dominating the market.