With all the talk in the media about the amazing turn-around in the national real estate market, I couldn't wait until the end of the second quarter to see how things are going in our own little specialized vacation home market here in Big Bear. So I ran the numbers through today's date in the second quarter and updated my historical price graphs.
Here's how it looks...
As you can tell from the graph, since the third quarter of 2011, we have seen a fairly consistent recovery in both the median and average prices of Big Bear homes.
The bottom of the market for the median and average price per square foot was in the first quarter of 2012. But since then, both the median and average price per square foot have been increasing steadily.
So Big Bear's real estate market is recovering right in line with the nationwide rebound. With mortgage rates still below 4% and home inventory still near record lows, there is no reason to think this improving maret will slow anytime soon.
If you have any questions about this post or Big Bear real estate in general, please contact me!
Paul Zamoyta ~ info@zamoyta.com