Hello and thanks for checking in with us regarding the Big Bear real estate market. The first quarter of 2018 is in the books, so let’s take a look at what transpired and what to expect going forward.
Q1 was a Supply-Side Story
Big Bear’s unique resort home market, like all markets, is driven by supply and demand. The story in Q1 of 2018 was on the supply side. The lack of quality inventory in our market overall had two main effects.
Lack of Quality Inventory Meant Fewer Homes Sold
First, fewer homes sold in the first quarter of this year (Jan-March), then sold in the same period of 2017. In fact, closed residential sales for the first quarter of 2018 were off a substantial 10.8% vs. 2017 (240 in 2018 vs 269 in 2017). The primary reason for the decline in the number of homes sold was a lack of well-priced homes for sale. ...continue reading