By Mike Sannes, Big Bear Real Estate - The Mike Sannes Team, December 14, 2016
Thanks for checking in with us on the Big Bear real estate market. This year has seemingly flown by once again. With the holiday season right around the corner, let’s get caught up on the happenings in Big Bear’s unique resort market.
Residential Sales Relatively Flat, Shift to Higher Price Continues
2016 has been a solid year for real estate in Big Bear. The number of residential sales overall (Jan-Nov 2016 vs. the same period last year) was relatively unchanged, posting a slight decrease of 1% with 1,074 closings in 2016 vs. 1,085 in 2015.
It is interesting to note the distribution of sales in the different areas of Big Bear as well as in different price ranges. The trend we have seen, where the bulk of the demand is moving up from the $0 - $250k price range and into the $250k - $500k price range, is still very much in effect. In fact, 3 years ago, 65% off all residential sales occurred under $250k (and 28% were between $250k -$500k,) whereas now 49% are under $250k and 42% are in the $250k-$500k range. ...continue reading