Lake Drive home sale39557 Lake Drive, a 3 bedroom, 2.75 bath, 2280 square foot home built in 1967, just became the  the 28th lakefront home to sell in Big Bear this year. A deepwater and west facing home situated on a 10,692 square foot lot, this home listed at $859,000 originally, lowered it's listing price after 3 months to $799,900, and after four more months on the market, finally just sold for $700,000.

After 177 days on market, this home sold for $307 per square foot, well below the 2012 average price per square foot for Big Bear lakefront homes of $366 and median of $388.

At $307 per square foot, this was a nice deal for the buyer. Although this house is somewhat dated and sits below street level, for $700,000, this certainly is one of the better valued sales in this price range. 

Lake Drive Lake ViewOnce again, the Big Bear lakefront real estate market continues to see siginifcantly increased activity over last year. With only 16 lakefront home sales in 2011 and with 28 sales already closed this year, we are on track to close twice as many lakefront homes as last year. With interest rates now below 3.5% and with only 22 Big Bear lakefront homes for sale currently, I would expect sales to remain high while the market starts to shift towards a sellers market.