April 2016 saw the number of Big Bear home sales drop 17%, but some high end sales fueled a jump in price measures in a same month comparison.
This April, the average and median sales price of Big Bear homes rose 13% and 22% compared to last April to their current level of $286,188 and $251,250 respectively. The average and median price per square foot rose 10% and 18% as well to $195 and $198 respectively.
Big Bear homes sold much faster on average this April with the days on market dropping from 121 to 96.
Although these price increases show extremely strong appreciation, when dealing with the small number of home sales that occur in a given month, these numbers can fluctuate significantly with a few very high or low dollar sales.
Looking at a longer term period might give us a better perspective on things.
On that note, here are the year-to-date numbers comparing sales from January 1st through April 30th to the same time period last year.
Overall, the number of Big Bear homes sold is up 4%, while price measures show respectable gains. The average and median sale prices year-to-date are both up 4% while the median and average price per square foot are up 5% and 8% respectively. Days on market has decreased from 124 days last year to 110 days this year. Meanwhile, the average sale price to list price ratio stayed constant at about 97%.
Looking at both the April same month comparison as well as the year-to-date comparisons, it appears the Big Bear real estate market is still showing consistent signs of growth. It will be interesting to see how the market fares heading into summer; traditionally our busiest season for Big Bear home sales!