Hello from beautiful Big Bear Lake and thanks for checking in with us regarding the Big Bear real estate market. Summer is here and, as the first half of 2016 has literally flown by, let’s get caught up on the happenings in Big Bear’s unique resort market.
Big Bear’s real estate market is primarily driven by vacation home and 2nd home buyers, but as with all markets, supply and demand certainly still influence price.
Thanks for checking in with us regarding the Big Bear real estate market. Let’s take a look at the start of 2016.
Residential sales in Big Bear jumped 3.2% in January compared with the same month a year earlier, and 6.5% year-over-year. A boost in sales in Big Bear City (up 43.8% compared to January 2015) contributed the bulk of this increase. In January, 66 homes closed escrow up from 62 in January of 2015. However, January 2016 sales are down 43% from December 2015, when 115 homes closed escrow. That said, it is typical for sales to slow in the winter months here in Big Bear. ...continue reading →
As 2016 is now well underway, let’s catch up on what transpired in the Big Bear real estate market last year and what that tells us about what to expect for 2016.
The real estate market in Big Bear fared well in 2015. We saw a surge in demand as, aside from January and October, every month of 2015 saw more residential closed sales than the same month a year prior.
Once again it seems the long days of summer have passed us quickly by. I hope the season has been full of fun for you! As it is well past time we got caught up on the happenings in the Big Bear real estate market, let’s get right to it.
The story in the Big Bear real estate market so far this year has been the increase in number of sales:
Through August, the number of residential homes sold here in Big Bear increased a solid 18.7% as compared to the same time period last year (736 closed Jan-August 2015 vs. 620 for that period in 2014)
In fact, as you will see in the bar graph below, over the last 10 years there has only been one other year, 2013, that exceeded this year's number of closed sales through August.
Hello and thanks for checking in with us regarding the Big Bear real estate market. Here in Big Bear, they say never plant your flowers before Mothers’ Day. This year proves that saying correct once again, as we woke up to 3-4 inches of new snow yesterday (Friday 5/8.) Happy (perhaps belated when you ready this) Mother’s Day to all the Moms!
Big Bear Real Estate Market Showing Solid Momentum
We have lots to catch up on, so let’s get right to it. The month of March put a cherry on top of what turned out to be a solid first quarter for the Big Bear real estate market. You may recall that January had most of the market watchers in Big Bear, myself included, scratching our heads as that month showed only 62 closed residential sales vs. 81 in January of 2014. After holding our collective breath, the activity in the market improved slightly in February with 70 sold vs. 67 in February 2014. ...continue reading →
Hello and thanks for checking in with us regarding the the Big Bear real estate market. The beginning of a new year is always an interesting time for Big Bear real estate. How we start the year often lends insight into where we might finish and what to expect in between.
A Tale of Two Months
This year started as a tale of two months in stark contrast. The Big Bear real estate market finished strong in 2014. The average price of homes in Big Bear was up 9.8% last year compared to 2013 (The number of closed sales, however, was off by 13.7%.) ...continue reading →
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 →
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.
The 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 →
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.
This 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 →