Sales of Big Bear homes were up almost 10% this February with 72 closings as compared to 66 closings in February 2018.
We saw conflicting direction on prices with the average sale price increasing 10% to $372,421 while the median sale price went down 10% to $297,500. We saw more concurrence with the price per square foot measures with the average price per square foot rising 2% to $245 and the median price per square foot rising 10% to $246.
The average days on market stayed the same at 104 while the average sale price to list price ratio dropped slightly from 98% to 97%.
Looking at the Big Bear real estate market from a year-to-date perspective, sales are up 7% so far in 2019 with 150 Big Bear home sales in the books for this year. This is a welcomed change from the 20% drop in sales we saw overall last year!
As well, prices are up across the board with the average and median sales prices rising 5.5% and 5% to $363,130 and $293,500 respectively. The average and median prices per square foot rose as well by 5% and 4% to $245 and $234 respectively.
With a strong start to 2019, mortgage rates settling back down to the low 4% range, and with this year's particularly snowy and wet winter not only bringing a record number of visitors to our valley, but also bringing the lake's water levels up over 6 feet so far, I would imagine we will continue to see steady growth in the Big Bear real estate market through the foreseeable future.