40307 Gibralter Landing became the latest summer lakefront sale on Big Bear Lake, originally listing at $999,000, reducing its list price to $949,000, and eventually selling at $925,000 after 325 days on market.
This lakefront property is a 1560 square foot, 3 bed, 2 bath true log home built in 2002 with an older but remodeled 520 square foot, 1 bed, 1 bath guest house on the same 8325 square foot lot.
Selling at $444 per square foot, this Big Bear lakefront property sold at a price point well above the $380 median price per square foot. A few reasons that this home sold at such a high price per square foot value is it's desirable log home architecture style, being a newer home, its smaller size (statistically, smaller homes have a higher price per square foot), and its uniqueness in having a separate guest house on the property.
I know I sound like a brokern record, but lakefront sales have been incredibly strong this year. It would be difficult to make a case that the Big Bear lakefront real estate market has not bottomed out. It seems like a recovery is finally underway. For those who have been waiting for themarket bottom to purchase a lakefront home, one can make the case that now is the time to do so!