The Big Bear real estate market continues to show steady growth with February's numbers showing double digit gains over home sales from February of 2014.

While the number of Big Bear homes sold this past month stayed steady compared to last February's sales at 70 closings, the average sale price rose 15.5% to $299,131 from last year and the average and median price per square foot saw gains of 11.5% and 12% as well to $195 and $188 respectively.

On a year-to-date basis, sales are down 11% over last year. Although closings have slid somewhat, we have seen quite a few sales in the higher end price points so far this year pushing the average and median sales prices up a misleading 22% and 38%. A more realistic measure of market improvement is the average and median price per square foot which are both up 11% and 12% so far in 2015.

In same month comparisons, we have seen steady double digit growth in Big Bear home prices over the past few years. Although sales are slowing and inventory is rising slightly, low mortgage rates and an overall improving economy are still fueling market gains.

With the recent purchase of our local ski reports by Mammoth Mountain investors, we have seen improved visitorship this winter in spite of a below average snow year. This increased interest in Big Bear as well as the positive effects it has had on the local economy bode well for continued improvement in the Big Bear real estate market throughout the foreseeable future.