2013 was a great year for real estate in Big Bear. The market is on the rebound, sales and prices are up and days on market keeps declining. But more so than the overall real estate market, lakefront properties have seen impressive appreciation in regards to price per square foot over this past year. Take a look at the figure below.
The average and median price per square foot of lakefront homes rose 19% and 23% from 2012 prices to their 2013 level of $441 and $479 respectively. Furthermore, 2013's numbers saw a 34% improvement in the median price per square foot from the market's low in 2010. Although the market is recovering nicely, you will also note that current pricing is at the same level as what it was during the 2004/2005 years.
Moving forward into 2014, the Big Bear lakefront real estate market is poised to continue to appreciate. There are only 12 currently listed lakefront homes for sale in Big Bear. This is the fewest number of lakefront listings that I can ever remember there being. Meanwhile, buyer demand remains quite high. Unfortunately, with so few homes for sale on the lake, buyers are waiting in the wings for the right property that meets their wants and needs to come on the market. When it does, it is likely to get interest from several parties, thus driving the prices higher.