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.

Residential Sales

The latter part of the 3rd quarter and early into the 4th quarter is typically the busiest months for closings and this year is no exception. October 2014 saw 123 residential sales close escrow as compared to 125 closings in October of last year and 113 in September, the month prior. This has been the first month since January of this year that we have seen roughly the same number of sales as compared to the same month in 2013. Signs that demand is on the rise are encouraging as the story of the market so far this year has been, in a nutshell, one of fewer sales. Sales overall year-to-date-through October vs. the same period in 2013 are off a substantial 17.6%.

Residential Sales

Sales Prices

Prices on the other hand have still been appreciating and have held on to most, but not all, of the gains we have seen this year. At the end of July the average price had increased an impressive 13.1% year-to-date. However when looking at 2014 year-to-date through October, the average price increase now stands at 9.5%. So prices did soften in August and September, but that is still a nice return. And the fact that we are still seeing solid appreciation in the face of significantly less transactions, is also encouraging, and indicates that the market has indeed found solid footing on which to move forward.

Residential Prices

Residential Listings

On the supply side we currently have 557 residential listings on our Big Bear MLS. Based on what is currently in escrow, this equates to a 6-month supply which is referred to as a ‘balanced’ market as opposed to a buyer’s or seller’s market. Inventory typically decreases in the winter months and I expect that trend to continue. There are, however, still quite a few very nice values on the market and if you are interesting in buying or selling real estate in Big Bear, we would very much look forward helping you achieve a great result.

Residential Listings

Do let us know  if you have questions on the market, your home's value, or ANY properties that you see for sale here in Big Bear.  Thanks, and until next time, all the best and happy hunting!

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

November 2013 Market Update: Thanks for checking in with us on the Big Bear real estate market. With Halloween behind us and Thanksgiving fast approaching, let’s take a look at what occurred in October and what that says about how 2013 might end up.

October Traded Sideways

If, like me, you were looking for October to shed some light on the overall direction of the market for the fourth quarter, you will need to stay tuned, as October did not provide too much insight. ...continue reading

October 2013 Market Update: The change of seasons is in full swing here in Big Bear. With a fresh few inches of snow on the ground this morning and Halloween fast approaching, fall is in effect and winter doesn't feel far off.

Prior to reviewing the numbers for October, I thought I would shed some light on a number we use often in describing the Big Bear real estate marketAbsorption Rate – and what this number represents. ...continue reading