Big Bear Lakefront home sales continue to make a late season run with 38799 Waterview Drive being the latest waterfront closing. This sale marks the 27th successful lakefront sale of the year. Although we are not likely to surpass last years impressive 36 lakefront sales, it will still be the third best year for lakefront sales in over a decade.
38799 Waterview Drive is a deepwater 3 bed, 4 bath, 2628 square foot lakefront situated on a 14,400 square foot lot. Built in 1974, this home had been reasonably updated over the past few years. Set back from the lake, this home had decent lake views and a southwest exposure. The sloped lot and lack of garage were two disadvantages to this property but were reflected in the price.
Listed at $1,299,000 and selling at $1,258,000, this home was only listed for 18 days before selling via a cash transaction at $478 per square foot and at 97% of list price.
So far this year, the average and median sales price of lakefront homes has risen almost 20% and 25% respectively to their current level of $441 and $479. With waterfront homes still selling well into the colder months and with the number of lakefront homes for sale in Big Bear near record lows (there are only 16 lakefronts listed currently), I am confident that lakefront properties will continue to appreciate throughout 2014.