With today being the last day that the San Bernardino County Recorder's office is open this calendar year, I would imagine that the Big Bear lakefront home at 170 Elgin Road will be the last waterfront home to sell in 2012.
This sale represents the 36th lakefront closing of the year, which is 20 more closings than we saw in 2011. That's right - we saw a 125% increase in Big Bear lakefront real estate sales this year. Wow!
170 Elgin Road is a 6 bed, 6 bath, 4668 square foot lakefront home located on a 9375 square foot lot. Listed originally at $2,195,000 in October of 2009, and after 1163 days on market and a series of price reductions eventually bringing the list price down to $1,790,000, this home finally sold for $1,688,000 at $362 per square foot.
This lakeside home was built in 1980 and is in good condition albeit slightly dated. The floor plan is decent and functional and had nice open spaces with vaulted ceilings providing a very roomy feel. The property itself is tucked in a small cove and is quite close to its neighbors. This might be an issue during shallower water years when the dock situation could get tight as waters recede. In general though, the surrounding homes are in decent condition and some of the nicest lakefront homes in Big Bear are located right down the street.
With only 20 lakefront homes currently for sale on the lake and with sales showing no signs of slowing, I would imagine we'll see home values on the lake continue to appreciate throughout 2013. Only time will tell!
Lastly, stay tuned for a year's end summary of the Big Bear lakefront real estate market. I hope to be running the numbers over the next few days and should have a full report shortly thereafter.