Having received many questions about the Big Bear real estate market recently, I thought I'd share the following for your information for your review. I hope you find it informative and insightful!
BIG BEAR LAKEFRONT SALES SURPASS 2018 TOTALS
With the holidays fast approaching, lakefront sales have remained steady. The figure below shows how we've already far surpassed last year's sales total with over a month still left in 2019.
You will also note in the above and below figures that the two strongest years for Big Bear lakefront sales were two years when the lake levels rose significantly to a near full level.
Reviewing historical lakefront sales and lake levels, it stands to reason that this year's uptick in sales is due to the lake filling significantly last winter. Although the lake rose over 9 feet, it was remained over 9 feet from full.
If we have a similar winter to last year's, our lake should be close to full come next summer and would further energize the lakefront real estate market.
DO LAKEFRONT SALES SLOW DURING THE WINTER SEASON?
Yes, the numbers below show that there are typically fewer sales in the first few months of the year. BUT.... the two highest priced lakefront sales this year went into escrow in January and February. So although sales may slow, there are always buyers interested in lakefronts. You never know when that one right buyer will come along for any particular property.
As well, because many real estate agents and lakefront owners perceive the winter as a slower sales season, many sellers pull their listings off the market until the following spring. This results in fewer lakefronts on the market for buyers to choose from. This, too, gives lakefront sellers an advantage during the winter months.
In short, if you are a lakefront owner looking to sell your Big Bear waterfront property, don't dismiss the winter months as there are always lakefront home buyers out there looking for the right property that meets their wants and needs.