Lakefront homes are undeniably the most desirable properties in all of Big Bear. As such, lakefront homes in Big Bear are generally the most expensive on both a price per square foot basis as well as in terms of overall price. In fact, per the Big Bear MLS records, the only single family residence to ever have sold for over 3 million dollars was a lakefront home. As well, in the last 7 years, of the 15 homes to have sold for over 2 million dollars, all of them were lakefront homes.
Being such a desirable segment of the Big Bear real estate market, many lakefront owners and prospective lakefront home buyers like to stay current on how waterfront properties are trending. Take a look below at sales numbers for lakefronts in Big Bear so far in 2014 as compared to 2013.
Number of Sales to Date
2013 - 10
2014 - 11
Average Sale Price
2013 - $998,811
2014 - $1,234,136
Median Sale Price
2013 - $989,000
2014 - $1,050,000
Average Price Per Square Foot
2013 - $441
2014 -$437
Median Price Per Square Foot
2013 - $479
2014 - $477
Average SF of Sold Lakefronts
2013 - 2422sf
2014 - 3175sf
Looking at these numbers, you can see that Big Bear lakefront real estate is still steadily appreciating. If you look closely though, you will notice decisive increases in the average and median sales prices of homes but a very slight dip in the average and median price per square foot. This can be explained by the last measure listed, the size of lakefront homes to have sold. So far this year, in general, larger waterfront homes have sold. As mentioned in previous posts, the larger the home, the less per square foot a home will generally cost. This is shown in the figure below.
Looking at the overall Big Bear lakefront real estate market so far this year, it looks like we will continue to see consistent appreciation through the foreseeable future. With summer gearing up, sales are likely to increase. This increased demand for Big Bear lakefronts should result in additional increases in lakefront values.
Ultimately, a Big Bear lakefront home is not only a wonderful mountain getaway at which to relax and play lakeside, but it is also a great investment as well!