In comparing January's sales in 2013 to those of January 2012, we saw continued improvement in almost every measure in the Big Bear real estate market.
The most accurate indicators of home values, the average and median price per square foot, both saw increases this January of 8% and 12% over last January's figures. The current average and median price per square foot stands at $146 and $147 respectively.
The median sale price of Big Bear homes showed a 16% drop while the average sale price increased by 3% over January 2012 numbers.
The number of Big Bear homes sales this January showed significant improvement as its 79 closings were a 39% increase over January sales from last year. Couple this with record low inventory, with there being about 330 homes for sale in Big Bear currently, and we have the fundamentals of a strong recovering market. With the number of Big Bear home sales increasing, only a 4 month inventory of homes for sale, and with interest rates still staying below 4%, we should see continued price increases moving forward in 2013.