Big Bear Home Sales For March 2008
April 6th, 2008 categories: Big Bear Buyers, Big Bear Market Conditions, Big Bear Real Estate News, Big Bear Sellers
The Big Bear real estate market saw an increase in homes sold in the month of March with a total of 46 48 homes sold. Historically speaking, this is still considered very slow sales activity, though it is nearly 60% 65%higher than January and 50% 54%higher than February of this year.
The median sales price for homes sold in the month of March also increased, going up nearly 8% ($282,000) 10% ($2865,00) as compared to the previous month ($260,000). The median sales price is still down 2% only down $1000 from the January median sales price ($287,500).
While there were more homes sold this past month, they are still far off the sales numbers from 2006 & 2007. March 2008 home sales were down 54% 52% as compared to March 2006 and down 44% 42 % to that of March 2007.
In addition, the median sales price for homes in Big Bear for March 2008 was down 13% 11%and 10% 8% for 2006 and 2007 respectively.
We are heading into our summer selling season so these monthly sales numbers should increase. It will be interesting to see how they compare to 2007 sales numbers. Be sure to check back monthly to keep tabs or sign up here to get Big Bear real estate market updates sent to you via email.
| Month and Year | # Homes For Sale | Median Asking $ | # Homes Sold | Median Sold $ |
|---|---|---|---|---|
| Mar 2008 | 1082 | $339,950 | 48 | $286,500 |
| Feb 2008 | 1049 | $345,000 | 31 | $260,000 |
| Jan 2008 | 1094 | $339,900 | 29 | $287,500 |
| Dec 2007 | 55 | $273,750 | ||
| Nov 2007 | 66 | $282,500 | ||
| Oct 2007 | 53 | $310,000 | ||
| Sept 2007 | 60 | $269,750 | ||
| Aug 2007 | 81 | $310,000 | ||
| July 2007 | 70 | $293,450 | ||
| June 2007 | 59 | $350,000 | ||
| May 2007 | 81 | $309,900 | ||
| April 2007 | 59 | $340,000 | ||
| Mar 2007 | 82 | $311,100 | ||
| Feb 2007 | 78 | $302,500 | ||
| Jan 2007 | 55 | $325,000 | ||
| Dec 2006 | 95 | $320,000 | ||
| Nov 2006 | 90 | $392,000 | ||
| Oct 2006 | 96 | $270,000 | ||
| Sept 2006 | 97 | $340,000 | ||
| Aug 2006 | 118 | $311,450 | ||
| July 2006 | 78 | $299,950 | ||
| June 2006 | 115 | $300,000 | ||
| May 2006 | 106 | $325,000 | ||
| April 2006 | 92 | $311,500 | ||
| Mar 2006 | 100 | $322,500 |
* Note: The chart above will be updated on a monthly basis. It represents single family home sales in the Big Bear area, including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, & Fawnskin. Data courtesy of the Big Bear MLS. These numbers do not include raw land or condos nor does not include homes in the Big Bear MLS that are located out of the Big Bear area.
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Big Bear Residential Market Activity 3/24/2008 to 3/30/2008
April 5th, 2008 categories: Big Bear Market Conditions, Big Bear Real Estate News
Below is a real estate market update for residential properties in the Big Bear Valley during the week of March 24 to March 30.
The market in Big Bear Lake and Big Bear City continues to be the main areas of activity when compared to Sugarloaf & Fawnskin. Given that there are 135 homes for sale in Sugarloaf, 1 closed sale and 1 pending sale this past week is drop in the bucket. At least with only 28 homes for sale, Fawnskin still has relativley few homes for sale and therefore less competition.
Valley wide, the number of homes that came on the market during the week was down from the previous week while closed sales and pending sales were up.
This information will be updated on a weekly and monthly basis. Be sure to check back or sign up for my email newsletter to be kept informed on the real estate market conditions in Big Bear.
| Big Bear Lake 92315 | |
|---|---|
| New Listings | 15 |
| Median Price | $465,000 |
| Price Range | $199,000 to $3,200,000 |
| Pending Listings | 11 |
| Median Price | $329,000 |
| Price Range | $117,900 to $1,799,000 |
| Average Days on Market | 147 |
| Sold Listings | 7 |
| Median Price | $485,000 |
| Price Range | $285,000 to $565,000 |
| Average Days on Market | 99 |
| Average List to Sale Price | 96% |
| Big Bear City 92314 | |
| New Listings | 9 |
| Median Price | $245,000 |
| Price Range | $158,000 to $358,000 |
| Pending Listings | 5 |
| Median Price | $240,000 |
| Price Range | $218,900 to $559,200 |
| Average Days on Market | 50 |
| Sold Listings | 5 |
| Median Price | $229,900 |
| Price Range | $160,000 to $340,000 |
| Average Days on Market | 90 |
| Average List to Sale Price | 95% |
| Sugarloaf 92386 | |
| New Listings | 4 |
| Median Price | $174,950 |
| Price Range | $149,900 to $240,000 |
| Pending Listings | 1 |
| Median Price | $159,000 |
| Price Range | $159,000 |
| Average Days on Market | 55 |
| Sold Listings | 1 |
| Median Price | $124,000 |
| Price Range | $124,000 |
| Average Days on Market | 170 |
| Average List to Sale Price | 99% |
| Fawnskin 92333 | |
| New Listings | 0 |
| Median Price | $ |
| Price Range | $ |
| Pending Listings | 1 |
| Median Price | $449,000 |
| Price Range | $449,000 |
| DOM | 173 |
| Sold Listings | 0 |
| Median Price | $ |
| Price Range | $ |
| Average Days on Market | |
| Average List to Sale Price | |
| All Areas | |
| New Listings | 28 |
| Median Price | $316,950 |
| Price Range | $149,900 to $3,200,000 |
| Pending Listings | 18 |
| Median Price | $324,450 |
| Price Range | $117,900 to $1,799,000 |
| Average Days on Market | 115 |
| Sold Listings | 13 |
| Median Price | $330,000 |
| Price Range | $124,000 to $565,000 |
| Average Days on Market | 101 |
| Average List to Sale Price | 96% |
* Information updated weekly, courtesy of the Big Bear MLS. This update includes MLS data from areas including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, Fawnskin & Baldwin Lake. It does not include data from areas in the Big Bear MLS that are located outside of the Big Bear area. Information is deemed reliable but cannot be guaranteed.
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Big Bear Real Estate Monday Market Update For 3/31/2008
April 1st, 2008 categories: Big Bear Market Conditions, Big Bear Real Estate News
Better late than never they say.
Below is the update for the Big Bear real estate market as of 3/31/2008.
The residential properties listed for sale in Big Bear are down 25 from 1103 homes for sale to 1078. Part of the reason for the big jump down is that 15 homes came off the market this morning as expired listings. I would expect those properties will be re-listed soon and add to the numbers. So, the real net loss is closer to 10, or around 1093 houses for sale in Big Bear.
Be on the look out for the number of homes on the market to increase dramatically over the next 60-90 days. Our summer selling season is coming up and we will start seeing 15-20+ homes coming on the market everyday come May & June. The phones are already ringing from interested sellers so it might come even sooner on that.
The number of houses in escrow is the same is last week at 91 while sales year to date now stand at 107 Big Bear homes sold since the beginning of the year, up 15 from last week. That makes for 37 homes sales in the past three weeks and 44 for the month of March. This is a good step up from the January and February home sales numbers.
Vacant land listings in Big Bear are up by 1 to 337 parcels now for sale. The number of pending sales are up 3 from last week for a total of 26 escrows for vacant land. There was 1 new closed sale this past week so year to date sales for vacant land are now at 16 closed sales, which is still very slow as compared to the 107 single family home sales.
The condo numbers for the Big Bear area remained identical to last week with no changes in the number of condos listed, sold, or in escrow.
| Property Type | Listings for Sale | Pending Sales | Sales Year to Date |
|---|---|---|---|
| RESIDENTIAL | 1078 | 91 | 107 |
| VACANT LAND | 337 | 26 | 16 |
| CONDOS | 62 | 3 | 2 |
| GOVERNMENT LEASE | 4 | 1 | 1 |
| COMMERCIAL & RES INVESTMENT | 61 | 6 | 4 |
| BUSINESS OPPORTUNITY | 12 | 1 | 3 |
The rest of the real estate market in Big Bear, including government leases, commercial and residential investments, and business opportunities remained relatively the same as last week.
There are 2 more commercial & residential investment opportunities on the market this week and 1 more pending sale. Sales for the year remain at 4.
Business opportuinty listings are down 1 from last week to 12 for sale while sales and pending escrow remained the same.
See last week’s Big Bear real estate market numbers.
Be sure to check back here every Monday for your Big Bear Market Update or click here to get this emailed to you every week.
* Information updated weekly, courtesy of the Big Bear MLS. This update includes MLS data from areas including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, Fawnskin & Baldwin Lake. It does not include data from areas in the Big Bear MLS that are located outside of the Big Bear area.
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Big Bear Residential Market Activity 3/17/2008 to 3/23/2008
March 27th, 2008 categories: Big Bear Market Conditions, Big Bear Real Estate News
Below is a market update for residential properties in the Big Bear Valley for the week of March 17 to March 23.
Given that residential properties are the majority of sales in Big Bear, I have focused on this type of property. If you are interested in the stats for vacant land, commercial, or condos, please let me know.
New, pending, and sold listings in Big Bear Lake were very similar to the prior week with no major swings noted.
Pending listings in Big Bear City nearly doubled last week, up from 3 to 8, with the average days on the market for pendings down by nearly 2/3rds. New listings and sold listings had similar stats to the previous week.
Sugarloaf real estate numbers were also pretty consistent with the previous week. With one closed sale over the past two weeks, sales have been slow in this part of Big Bear.
Fawnskin is still seeing limited activity though there was one new listing and one new closed sale. Not enough to be really happy about in my opinion.
This information will be updated on a weekly and monthly basis. Be sure to check back or sign up for my email newsletter to be kept informed on the real estate market conditions in Big Bear.
| Big Bear Lake 92315 | |
|---|---|
| New Listings | 19 |
| Median Price | $359,000 |
| Price Range | $199,900 to $1,295,000 |
| Pending Listings | 8 |
| Median Price | $337,000 |
| Price Range | $219,000 to $499,900 |
| Average Days on Market | 100 |
| Sold Listings | 4 |
| Median Price | $339,000 |
| Price Range | $209,000 to $449,000 |
| Average Days on Market | 314 |
| Average List to Sale Price | 95% |
| Big Bear City 92314 | |
| New Listings | 18 |
| Median Price | $304,000 |
| Price Range | $149,000 to $589,500 |
| Pending Listings | 8 |
| Median Price | $234,900 |
| Price Range | $110,000 to $559,000 |
| Average Days on Market | 108 |
| Sold Listings | 3 |
| Median Price | $325,000 |
| Price Range | $282,500 to $369,000 |
| Average Days on Market | 103 |
| Average List to Sale Price | 95% |
| Sugarloaf 92386 | |
| New Listings | 5 |
| Median Price | $257,000 |
| Price Range | $229,000 to $368,900 |
| Pending Listings | 2 |
| Median Price | $104,900 |
| Price Range | $89,900 to $119,900 |
| Average Days on Market | 39 |
| Sold Listings | 1 |
| Median Price | $199,900 |
| Price Range | $199,900 |
| Average Days on Market | 116 |
| Average List to Sale Price | 95% |
| Fawnskin 92333 | |
| New Listings | 1 |
| Median Price | $269,900 |
| Price Range | $269,900 |
| Pending Listings | 0 |
| Median Price | $ |
| Price Range | $ |
| DOM | |
| Sold Listings | 1 |
| Median Price | $279,000 |
| Price Range | $279,000 |
| Average Days on Market | 7 |
| Average List to Sale Price | 96% |
* Information updated weekly, courtesy of the Big Bear MLS. This update includes MLS data from areas including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, Fawnskin & Baldwin Lake. It does not include data from areas in the Big Bear MLS that are located outside of the Big Bear area. Information is deemed reliable but cannot be guaranteed.
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Big Bear Real Estate Monday Market Update For 3/24/2008
March 24th, 2008 categories: Big Bear Market Conditions, Big Bear Real Estate News
Below is the update for the Big Bear real estate market as of 3/24/2008.
The residential properties listed for sale in Big Bear are up 22 from 1081 homes for sale to 1103. There are 51 more homes on the market now as compared to 5 weeks ago when I started tracking these numbers. The number of homes in escrow is down 1 from last week to 91 while home sales year to date are now at 92 Big Bear homes sold since the beginning of the year, up 10 from last week. That makes for 23 homes sales in the past two weeks….not bad.
Vacant land listings in Big Bear are down 3 to 336 parcels now for sale. The number of pending sales is down 2 from last week for a total of 23 escrows for vacant land. There were 3 new closed sales this past week so year to date sales for vacant land are now at 15 closed sales.
There are 62 condos for sale in the Big Bear area, 2 less that last week. There were 2 new pending escrows but no new closed sales. The total pending escrows for condos stands at 3 while year to date sales for condos in Big Bear remained at 2.
| Property Type | Listings for Sale | Pending Sales | Sales Year to Date |
|---|---|---|---|
| RESIDENTIAL | 1103 | 91 | 92 |
| VACANT LAND | 336 | 23 | 15 |
| CONDOS | 62 | 3 | 2 |
| GOVERNMENT LEASE | 4 | 1 | 1 |
| COMMERCIAL & RES INVESTMENT | 59 | 5 | 4 |
| BUSINESS OPPORTUNITY | 13 | 1 | 3 |
The rest of the real estate market in Big Bear, including government leases, commercial and residential investments, and busniess opportunites remained relatively the same as last week.
See last week’s real estate market numbers.
Be sure to check back here every Monday for your Big Bear Market Update or click here to get this emailed to you every week.
* Information updated weekly, courtesy of the Big Bear MLS. This update includes MLS data from areas including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, Fawnskin & Baldwin Lake. It does not include data from areas in the Big Bear MLS that are located outside of the Big Bear area.
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Big Bear Home Prices Down 15-25%
March 21st, 2008 categories: Big Bear Market Conditions, Big Bear Real Estate News
A recent article by the L.A. Times says the median price of homes in the Big Bear area dropped between 15-25% in February of 2008 as compared to February 2007.
| Area | Number of Sales | Median Price | Drop in Price from 2/07 | Median Price Home Per Sqft. |
|---|---|---|---|---|
| Big Bear Lake 92315 | 17 | $333,000 | -24% | $243 |
| Big Bear City 92314 | 11 | $235,000 | -14.6% | $221 |
| Sugarloaf 92386 | 6 | $164,000 | -21.9% | $146 |
| Fawnskin 92333 | n/a | n/a | n/a | n/a |
It is interesting to compare this with the median home prices for Big Bear that I posted on earlier this month. My stats show an average drop in the median homes prices of 14% for the Big Bear area in the month of Feb. I am using the Big Bear MLS for my stats while it looks like they might be using title records as they are showing 3 more sales in the month of February than I am.
Either way, I think the 25% is on the high end of things while 14% is going to be on the low end of things.
It is very important to keep things in perspective. Just like every real estate market is different, each property is different and needs to be treated like such. To use blanket statements based on averages or medians is to not understand the real estate market.
For example, to use these figures above and apply it to the lakefront market in Big Bear would be ridiculous. Lakefront values and prices have continually held strong in Big Bear, actually going up nearly double the past 5-6 years. Conversely, if you are looking at a bank owned or REO option, then these numbers might be a little under what the real numbers are.
There are many news stories out there claiming various numbers and statistics. Be sure to talk with a real estate professional in the Big Bear area who can digest all these numbers and can give you the real story on market conditions.
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