Now that the third quarter is behind us, I thought I'd take a look at how Big Bear real estate has fared through the third quarter of 2018 as compared to the same time period in 2017.

Overall Big Bear home sales have slowed significantly so far in 2018, dropping 19% from the previous year. But looking at the longer term trend below, it looks like we might be settling down into a more normal market after what was an unusually strong year in 2017.

Big Bear Home Sales - Quarterly

Meanwhile, all four major price measures have shown improvement in our year-to-date comparison. 

The average and median sale prices of Big Bear homes are up 3% and 7.5% to $337,334 and $289,000 respectively, while the average and median prices per square foot are up 10% and 11% to $232 and $224 respectfully.

Big Bear homes have sold slightly quicker this year with the average Days On Market dropping from 103 days to 90 days. The average sales price to list price ratio has stayed steady at about 97.7%.

The number of Big Bear homes for sale has risen slightly this year but is still well below the long term average. Currently, there are 506 homes for sale in Big Bear, whereas last year there were 410 homes for sale and 2016 saw 554 homes for sale in mid-October..

With interest rates rising and with so few homes for sale in Big Bear, home sales settling back down to a more historically normal level is not so surprising. The market seems to be neutral currently, as the shift is underway from a seller's market to a buyer's market.

Regardless, if you've considered selling your Big Bear home, it makes sense to think more seriously about this possibility with buyer's starting to gain the upper hand in negotiations. If you're a buyer, you will want to move quickly to take advantage of historically low interest rates before they rise further while keeping an eye out for motivated sellers looking to stay ahead of the market shift by conceding more in negotiations than they would have otherwise.

If you have any questions or comments, please contact me at Info@Zamoyta.com or (909) 557-8285.