The fast pace of Big Bear lakefront home sales continued as yet another waterfront property closed escrow this week.
40116 Lakeview Drive, a 4 bed, 4.5 bath, 4000sf home, with 2 car garage closed at 1.16M dollars. This home was on the market for 469 days, having originally listed at 1.39M dollars and price reducjing to 1.29M before receiving the eventual selling offer. As well, this home netted 69K in rental income in 2011.
At a sold price of $290 per square foot, this is the least expensive of this year's sold Big Bear lakefronts based on the price per square foot measure. This is likely a result of the property being relatively dated, having an unconventional floor plan, and in need of some upgrades. This home also borders a public lake access point and a group of rental cabins which likely results in it being a higher traffic area.
As summer approaches, currently this leaves only 26 Big Bear lakefront homes for sale. This is a very low inventory of waterfront properties heading into our busiest home buying season. In all likelihood, we will see more lakefronts come on the market over the next few months. But currently, the low inventory bodes well for sellers, as with fewer homes for buyers to choose from, sellers will be more likely to command a higher price.Compared to previous years, things really seem to be looking up for the Big Bear lakefront real estate scene!