SAME MONTH COMPARISON

Sales of Big Bear homes stayed steady while price measures rose this November in a same month comparison.

There were 100 Big Bear homes sold this November as compared to to 103 closings in November of 2018.

The average sale price rose 4% to $359,249 while the median sale price rose 13% to $317,500.

The average price per square foot rose 1% to $244 while the median price per square foot rose 3% to $242.

The average and median sales price to list price ratio stayed about the same at 98%.

The average days on market rose 6 days to 104 days and the median rose from 81 days to 86 days.

 

YEAR-TO-DATE COMPARISON

Sales of Big Bear homes are up 4% so far in 2019 with 1162 closings.

The average sales price is up 5% to $352,286 while the median sale price is up 4% to $300,000.

The average price per square foot is up 1% to $247 while the median price per square foot is up 2% to $241.

The average and median sales price to list price ratio is steady around 98%.

The average days on market rose 8 days to 98 days and the median rose 5 days to 68 days.

 

CURRENT MARKET INFLUENCES

Mortgage rates remain remarkably low at an average 3.68% for a 30 year fixed loan currently. This compares to an average 30 fixed rate of 4.81% at this time last year. These low rates should help continue to move the Big Bear real estate market forward through the new year.

Locally, we just received our biggest November snow storm in over 50 years. The 3 to 4 feet of snow our local resorts received should have a hugely positive impact on our local economy. More visitors to our valley means more interest in Big Bear real estate.

With the overall economy still strong, interest rates much lower than they were last year, and with Big Bear much more likely to have a busy winter season with our recent snow storm, it appears the Big Bear real estate market will continue to remain strong into 2020.