In a same month comparison, sales are down about 10% this July with 97 closings as compared to 110 sales in July of 2015.
Although sales have slowed, all four price measures showed improvement.
The average sales price for Big Bear homes was up 21% while the median rose 20% this July as compared to July of 2015 to $330,000 and $252,000 respectively. As often occurs due to the small sample size of sales we have in Big Bear, these numbers aren't a good indicator of price direction as they can be exaggerated by just a few sales.
The price per square foot measure makes for a better market indicator. Those measures too showed improvement, although more tempered (and realistic, in my opinion). The average and median price per square foot of Big Bear homes that sold this July were up 3% and 8% to $203 and $204 respectively.
Average days on market dropped slightly from 99 days last July to 93 days this July.
The inventory of Big Bear homes for sale also remains about the same as last year. In mid-July, there were 615 single family residences listed for sale as compared to 636 last July.
Overall, the market seems to be holding steady with annual appreciation being what we see in a normal market. With interest rates still hovering around 4%, I would expect the market to remain steady for the foreseeable future.