104 Round Drive became the latest Big Bear lakefront home sale. Closing on August 12th at $1,050,000, it had been on the market for 15 days and in escrow for 48 days. It was purchased with a conventional loan and became the 14th home on the lake to sell so far this year.
Built in 1998, this 1580 square foot true log home has 3 bedrooms, 2 bathrooms and sits on a 8680 square foot lot with a two car garage and boat dock. The home is in excellent condition and the grounds are impeccably landscaped. This property is situated on a shallow cove which has been negatively affected by this year's lower lake levels.
Listed at $1,075,000 and spending only 15 days listed for sale, this Big Bear lakefront home sold at 98% of its list price and at a yearly high of $665 per square foot, well above the 2013 average of $415 per square foot for waterfront homes.
At $665 per square foot, this lakefront home sale shows that buyers in this market are willing to pay top dollar for the right property. This home has the two features that I find most buyers are attracted to in Big Bear - log style architecture and impressive landscaping. With the number of home sales still increasing and with the extraordinarily low number of Big Bear homes currently for sale, the laws of supply and demand suggest prices are only going to continue to appreciate through the foreseeable future.