Thanks for checking in with us regarding the Big Bear real estate market. We hope you find this information useful. If you have any questions or would like more information regarding the market, if you would like a more specific valuation pertaining to your particular property, or if you have questions on any properties that you see for sale here in Big Bear, do let us know. We are happy to help and always look forward to hearing from you.

2014 was an interesting year for Big Bear real estate…

  • We saw fewer sales: there were 1,060 residential closings in 2014 vs. 1,228 in 2013, which equates to a 13.7% decrease in transactions.
  • However, the homes that did sell, sold for more money as the average price paid in 2014 increased by 9.8% vs. 2013.

What does this indicate with regard to what we can expect in 2015?

From a ‘number-of-sales’ perspective, I expect this year will surpass 2014. On a month-to-month basis last year there were many months that we would normally expect to be ‘Big Sale’ months, i.e. May, June and August, where the closings were significantly off from the year prior. But toward the end of the year, i.e. October, November and December, every month saw as many sales and in some case, more sales than the year prior (December saw 101 closed sales in 2014 vs. 91 in 2013). I expect the momentum evidenced at the end of 2014 to continue into 2015.

Monthly Residential Sales

In order for that to happen, we will also need to see (and I am confident we will) an increase in the number of homes for sale in the coming months. Our inventory is currently on the low side, with 432 residential listings. Inventory will no doubt increase in the coming months as many sellers opt to sit-out the winter months. This is not, in my opinion, a great strategy, as right now is when the competition is the least. It is much easier to standout with less competition and there is certainly strong demand in the current market. I also expect that we will continue to see appreciation in the market next year, especially if interest rates remain at rock bottom levels.

Growth in 2014 was in the luxury market…

Residential Sales by Price Range

The sales growth that we did see in the market last year was in luxury sales. The $750,000 – $1,000,000 price range saw an increase in sales of 31.8%, and sales in the $1 million+ market was up 21.1% vs. 2013.

Some Noteable 2014 Market Metrics…

    • Short sales and foreclosures combined currently make up only 2% of our active inventory.
    • Cash deals accounted for roughly 30% of the transactions last year (off from the 35% we saw during the investor-driven markets of 2010-2012).
    • The average days-on-market is holding at just under 100 days. Of note: our listings have averaged a very competitive 65 days.
    • The average sale-to-list-price ratio remains at 96%, as well-priced properties continue to sell relatively close to their list price.

Good News for 2015…

If the number of visitors over the recent Holidays is any indication, Big Bear’s economy is on the upswing. Mammoth Mountain’s purchase of our two local ski resorts, coupled with the low price of gas has brought an incredible number of people up to enjoy the mountains this year. Our vacation rental companies are thrilled and as is customary, many of these folks may in turn view owning a place of their own in Big Bear that they can use and enjoy as an attractive investment.

But, the biggest and most exciting news in the Big Bear real estate market would in my mind be current interest rates, which have literally never been lower. It is an incredibly great time to lock in an incredibly great rate on a great property in Big Bear. Again, do let us know if we can help. Until next time: all the best and happy hunting!

By Mike Sannes, December 21, 2014

Looks like we will have a white Christmas here in Big Bear this year! Recent storms brought winter weather with a solid 4-6 inches of new snow and much more is expected. With 2014 rapidly winding down, and the New Year just around the corner, we wanted to wish you all Happy Holidays and provide a quick update on the Big Bear real estate market.

Supply and demand defines all markets, and the Big Bear real estate market is no different. On the supply side, it has been an interesting year in that we have seen larger than normal variations in homes available for sale. ...continue reading

By Mike Sannes, November 21, 2014

Let’s get caught up on what has been happening in the Big Bear real estate market, shall we? Apologies up front, as it has been too long since our last report. Time flies when you’re having fun (and when you’re busy working as well, it seems) and the summer simply vanished this year.

Cali4nia PassThe BIG news since last we wrote is the purchase of our two local ski resorts (Snow Summit and Bear Mountain) by Mammoth Mountain… big news indeed. So far, with respect to real estate sales, we have seen an increase in curiosity, especially in the luxury market, but no big bump in sales or prices as of yet. But I do think that will occur when the planned investment in development begins. The big initial impact will be in the number of folks coming to Big Bear to ski this winter. The season pass for Mammoth Mountain last year was $689.00 and that is the same price this year, BUT that same price now includes the two Big Bear resorts as well. I think this will bring more folks up to Big Bear that may not have come otherwise, to enjoy the proximity of our local mountains. ...continue reading

By Mike Sannes, June 12, 2014

Let’s take a look at the state of affairs in the Big Bear real estate market as we head into summer... May is typically a good ‘spring season’ indicator month and can also shed light on what to expect of the upcoming summer selling season.

Average Sales PriceThis May was very encouraging from a price perspective, as the average price of all residential property sold in May 2014 compared to the same month last year, increased 19%. Year-to-date through May, compared to last year, the average price is now up 9% in total. (At the end of April the average price was up 6.6%, so substantial price gains were seen this May)  Most of these price gains have come from high-end sales in Big Bear Lake area. However, Sugarloaf has also seen above market appreciation so far this year as well. ...continue reading

By Mike Sannes, May 25, 2014

May 2014 Market Update Hello from Big Bear and thanks for checking in with us on the Big Bear real estate market. With Memorial Day fast approaching, which kicks off our local selling season, let’s get caught up on what has transpired this Spring and what that might indicate as we look forward to Summer.

Looking at Transactions…

Residential Transactions
Residential Sales: YTD 2014

From a transaction standpoint, Spring is typically the "slow time" for the Big Bear real estate market and this year has been no exception. In fact, year-to-date through April vs. the same period in 2013, we are off a substantial 18.6% in total number of residential sales. Every month so far this year has seen fewer sales than ...continue reading

By Mike Sannes, April 16, 2014

Q1 2014 Update: Now that the first quarter of 2014 is behind us, let’s take a look at what has transpired in the Big Bear real estate market and what that indicates about what we can expect from the market as we head into the summer selling season.

2014 got off to a surprisingly strong start. January and February, which are typically slow months for real estate sales in Big Bear, saw impressive demand. ...continue reading

By Mike Sannes, March 19, 2014

February 2014 Market Update: Hello and thanks for checking in with us on the Big Bear real estate market. Winter in Big Bear this year was underwhelming, to say the least. And although the ski resorts and vacation rentals were disappointed with the lack of snow, the good weather actually helped keep the Big Bear real estate market moving right along through the cold months and should continue to help as we head into the Spring.

Normally, spring in Big Bear brings lots of listings to the market and I expect this to hold true for this season as well. In fact, we have already begun to see a substantial rise in the number homes for sale in Big Bear. ...continue reading

By Mike Sannes, February 14, 2014

January 2014 Market Update: 2014 is well underway, so let's take a look at how the Big Bear real estate market has started off the New Year and what that indicates regarding what to expect going forward.

The lack of snow, although not great for the ski slopes, has actually helped the Big Bear real estate market. Interested buyers can easily make the drive up to look at properties and tend to feel more confident about offering on real estate when they can actually see the roof and the yards. (Although what pops up in some yards when the snow melts can be an interesting surprise!) ...continue reading

By Mike Sannes, February 5, 2014

January 2014 Market Update: Looking at 2013 Year-In-Review.

Hello and thanks for checking in with us regarding the state-of-affairs in the Big Bear real estate market. We diligently track and analyze Big Bear’s unique real estate market and our aim is to make this your one-stop-shop for all the latest Big Bear real estate information. Should the urge to buy or need to sell arise, we most certainly look forward, and are very able, to help you obtain a great result.

2013 was a solid year for the Big Bear real estate market. In the paragraphs to follow, I will update you on how the market fared with respect to price and number of sales, as well as cover some important market statistics that are worth keeping an eye on. ...continue reading

December 2013 Market Update: As 2013 winds down, we hope you are set to enjoy a wonderful holiday season. Let’s get caught up on what has been happening in the Big Bear Real Estate market, shall we? We will be doing a comprehensive market ‘year-in-review’ in January for you as well… so stay tuned for that.

Prices in the Big Bear real estate market continue to rise: November 2013 saw a 14% increase in average residential sales price from November of 2012 and a 7.3% increase from October. This brought the year-to-date increase in average sales price in Big Bear to 5.8%, from where it stood through the end of October at 4.9%. ...continue reading