It's hard to imagine that we are now in the fourth quarter of 2015. Time flies when Big Bear homes are selling! As mentioned in yesterday's post, sales are up almost 20% this year and prices have been continuing to appreciate in 2015, But let's take a look at some historical quarterly charts to put in perspective where things stand in the Big Bear real estate market.

Average and Median Sales Price Per Quarter

Big Bear Real Estate Quarterly Graph

In the above chart, you can see that I placed lines at the height of the Big Bear real estate market at the beginning of 2007 and the trough of the market at the 3rd quarter of 2011. This chart clearly shows the steady recovery of Big Bear home prices over the past four years. From the market's bottom, the median and average Big Bear home prices have risen 57% and 49% respectively.

But it also shows how far we have to go to get back to the peak prices of 2007. Currently, the median home price is still 30% off its peak and the average Big Bear home price is still 37% from its peak.

Average and Median Price Per Square Foot Per Quarter

BIg Bear Homes PPSF Graph

As one would expect, the price per square foot measures show the same market trends as the Big Bear home price graph above. The average and median price per square foot have rebounded 46% and 54% respectively from the market's bottom, but are still down 30% and 26% from its height.

After weathering one of history's worst real estate market crashes, it is comforting to see prices appreciating so steadily. Entering its 5th year of recovery, I would expect the momentum to continue for the foreseeable future. With the number of sales increasing and the number of Big Bear homes for sale remaining remarkably low, the local real estate market has a strong foundation on which continued price appreciation can be expected.