June's Big Bear real estate numbers are in and the same trends continue - the number of Big Bear homes that sold in June were down compared to June of 2013 but prices have continued their rise.
June 2013 saw 91 homes sell while this year there were only 65 closings. This 29% drop in sales can be directly contributed to the near snowless winter we just experienced which resulted in an estimated 40% drop in Big Bear visitors.
Although sales slowed, prices are still showing significant 12 month gains.
Comparing June of 2013 to June of this year's sales, the average and median sales prices of Big Bear homes rose 23% and 27% to their current levels of $279,880 and $208,000.
The average and median price per square foot also rose impressively with gains of 32% and 30% to their current levels of $203 and $191 respectively.
Looking at year to date Big Bear real estate numbers, we see similar trends. The number of Big Bear homes to have sold so far in 2014 is still down about 24% as compared to the same time period in 2013, with sales dropping from 538 in 2013 to 411 so far this year.
Prices though continue to rise. The average and median sale prices are up 12% and 6% to $276,088 and $195,000 while the average and median price per square foot are up 18% and 17% to $185 and $174 respectively.
With the big July 4th holiday weekend finally here, our annual busy season for Big Bear real estate sales has begun! For Big Bear realtors, the next 2-3 months are by far the busiest of the year as vacationers frequent our valley, fall in love with all that Big Bear has to offer, and many times end up buying a vacation home.
As such, I would expect sales to rebound after a slow winter and I also expect prices to continue to improve as buyer demand nears its peak.