Two lakefront homes closed escrow today becoming the 11th and 12th waterfront homes to sell on Big Bear Lake this year.
154 Lagunita Lane is comprised of two separate homes on one lot. There is a 3 bedroom, 2 bath, 1700 square foot main house with a 2 car garage and a separate smaller 700 square foot cabin with no bedrooms but two open loft sleeping areas. This property's waterfront access is on Mallard Lagoon, a small finger of water about 50 yards wide and a quarter mile long. This home listed at $795,000 and sold for $753,000 at 95% of list price and at $312 per square foot, well below the 2013 average of $387. This home sold after 49 days on market, below the median DOM of 77 days.
40230 Lakeview Drive is a classic 1940s log style cabin on quiet cove just west of Gibralter Point. At 3 bedroom, 2 baths and 1156 square feet, this home has the cozy mountain Big Bear log home feel many buyers are looking for. Listing for $669,000 and selling for $649,000, this Big Bear lakefront sold at 97% of asking price and at $562 per square foot after just 12 days on market.
So far this year, the average sale price of Big Bear lakefronts is $1,004,283 while the median sale price is $889,000. The average and median prices per square foot are $410 and $387. The average size of these sold lakefronts is 2550 square feet and 3 bedrooms and 2 bathrooms. We have closed 12 lakefront homes so far this year, whereas at this point last year, there had been 17 closings. Currently, there are 22 Big Bear lakefront homes for sale compared to 28 at this time last year.
Heading into what is usually our busiest 60 days for home buying activity here in Big Bear, I'd expect the lakefront home market to continue to stay active through, and likely beyond, the Labor Day weekend.