Buyer demand remained high while the supply of homes remained low with the number of Big Bear homes sold up 19% and the number of Big Bear homes for sale being down 11% as compared to last July. Meanwhile, price gains are finally showing signs of cooling off as the market returns to more normal conditions.

Compared to July of last year, the average sale price for Big Bear homes that sold this July was up 2% to $273,871 while the median sale price dropped 5% to $214,500. The average and median price per square foot of Big Bear homes rose 5% to $197 and 3% to $189 respectively. The median number of days a Big Bear home was listed for sale before selling (DOM) increased just 3 days to 51.

On a year-to-date comparison, sales are up 19% in 2015 as compared to the same time period in 2014 with 644 closings so far this year. The average and median sales prices are up 2% and 6% to $276,072 and $218,500 respectively. The average and median prices per square foot are up 1% and 5% to $188 and $181 with days on market increasing just 5 days to 67.

As compared to last year, with sales up and the number of listings down, I think the market remains in a good place even though prices are cooling. Days on market has remained relatively unchanged, which is a good sign of a solid market as well. With August typically being the busiest month of the year for Big Bear homes sales, I would expect to see August numbers continue the steady market trend.