As is usual for this time of year, the Big Bear lakefront real estate market is seeing its annual increase in summertime buyer activity. With summer visitorship nearing its peak in late July through Labor Day, we see an accompanying rise in interest in lakefront homes for sale. After seeing all that Big Bear has to offer for summertime activity, especially activities available on the lake, the prospect of owning a lakefront home becomes quite attractive.
Currently, there are 5 pending sales of lakefront homes. These homes in escrow have an average list price of $977,375, an average price per square foot of $505, are on average 3 bedroom, 2 bath and 2011 square feet, and sold after only 36 days on market.
As far as currently listed homes for sale on Big Bear lake, the inventory is quite low for this time of year. We usually see the number of waterfront homes for sale peak in late July, but currently we have only 20 lakefronts listed. Comparitively, there were 28 lakefronts listed last July and 38 the year before that.
If all of the current escrows close as expected this month, and our listings stay constant at 20, it will result in a 4 month inventory of homes. In a normal market, a 6 month inventory is standard. At four months inventory, the Big Bear real estate market is looking quite strong.
Considering the underlying princibles of supply and demand, with lakefront home buyer demand high and the supply of homes for sale staying low, one would expect Big Bear lakefronts to continue to show signs of appreciation until this market dynamic changes. When that change might be, no one knows. But looking at where the market stands now, if you've been considering buying a lakefront home, now may be an advantageous time to do so in order to take advantage of the market's likely-to-continue appreciation.
If you're not familiar with what goes on in Big Bear in the summers, here's a look of just SOME things you can do!
Summer Vacation in Big Bear Lake California from Big Bear Lake on Vimeo.