Big Bear Real Estate – March Market Update

Spring is in the air here in Big Bear. For me personally this cannot come soon enough as I have already shoveled more than enough snow for my taste this winter. For Big Bear this is a bittersweet time of year, as the major tourist season will soon be behind us, but the Summer, full of long days and beautiful weather, is just around the corner. The abundant snowfall this winter puts the jewel of our valley, Big Bear Lake, in prime shape to enjoy.

In the Big Bear real estate market, the arrival of spring typically kicks off the listing season and I think this year will be no exception. I expect our inventory to expand considerably in the next few months and this will lead to even more terrific opportunities becoming available for interested buyers. Closings of residential sales in February 2008 were up 10% compared to January, but still down considerably compared to February of 2007. However, the number of residential properties in escrow grew in February from roughly 93 to where it sits now at 111, almost a 20% increase! This is a sign, if the trend continues, that the number of transactions may have bottomed out and that there is increasing demand out there. I’ll keep you posted. In the meantime if you have any questions, I always look forward to hearing from you.

Big Bear Real Estate Market:  Current Statistics

(as of 3/4/2008)

Single Family Residence $0 - 250K $250 - 500K $500 - 750K $750 - 1mil Over $1mil
Active Listings 323 507 119 53 75
Sold Year-To-Date 80 61 19 6 6