We are near peak season for home buying in the Big Bear real estate market. Late summer is traditionally our busiest time for home sales as summer visitors spend time in the valley and fall in love with all the wonderful things that Big Bear has to offer. Of course, it doesn't hurt that the market is showing impressive signs of growth while interest rates, although creeping higher, are still historically quite low.

Comparing July of 2012 to July of 2013 

The number of Big Bear home sales increased this July from 98 in 2012 to 112 this year. This represents a 15% increase in sales.

The average and median sales prices have increased to $225,656 and $165,000. This represents a 3% increase in the average price and a 5% increase in the median price.

The average and median price per square foot for Big Bear homes sold in July are up 16% and 5% respectively to their current levels of $166 and $148.

This July, homes are selling for an average of 96% of their list price compared to 95% last year. The average Days On Market a Big Bear home was listed before selling dropped from 142 days to 94 days.

Comparing Big Bear Home Sales Year-To-Date

The number of Big Bear homes sales so far in 2013 has increased from 556 closings last year to 654 this year. This represents an increase of 18% in the nunber of homes sold.

The average and median sale prices are up 5% and 12% respectively to $244,104 and $180,000.

The average and median prices per square foot are up 11% and 10% to $158 and $133.

Lastly, homes are selling at 96% of list price so far this year compared to 95% during the same time period last year. The number of Days On Market a Big Bear home is listed before selling has fallen from 132 days to just 103 days.

Summary

We continue to see evidence that the market is continuing to improve. With the number of sales up almost 20% from last year, buyer demand is driving prices higher. With a low inventory of homes for sale and with interest rates remaining relatively low, one would expect the market to show continued appreciation through 2013.