The first snow of the season has finally arrived and as the snow falls, Big Bear home sales continue to rise. Let’s get caught up on the happenings in the Big Bear real estate market shall we?
The number of residential homes sold in November 2012 increased 18% from a year earlier and the number of closings (107) was the highest level of any November in six years. In fact November marked the tenth straight month that year-over-year homes sales increased in Big Bear. Year-to-date, compared to 2011, sales have increased a whopping 29.3%.
Demand is on the Rise: Big Bear Valley Home Sales Since 2008
Cooler temperatures and colorful trees are plentiful here in Big Bear. There is no mistaking that summer has passed and the big question now is, when will the first snow arrive? (My guess is prior to Thanksgiving.)
Thanks for checking in on the Big Bear real estate market with us. There is a lot to get caught up on so let’s jump right in. What an amazing 3rd quarter for sales we have seen. You would have to go back 7 years to 2005 to find a 3rd quarter with more residential closings than 2012 (see graph below for perspective).
Thanks for checking in with me on the Big Bear real estate market. It is hard to believe that the first half of the year has already come and gone, but what an amazing ride it has been. There is so much to catch up on, so let’s dive right in.
Over the past few months, there has been quite a lot of positive news regarding new strength in real estate markets both nationally and statewide, as well as in Southern California. That said, it is important to realize that real estate is, in fact, a very local business. As an analogy: the average temperature in the USA on any given day will most likely not accurately describe the weather where you live. ...continue reading
Reading today about the truly incredible interest rates currently available encouraged me to spread the word here. Interest rates have been so low, for so long now, that seeing news about low rates might prompt a “great, but what is new” response. However, rates now are so incredibly low for qualified buyers that it certainly warrants attention.
Today’s Freddie Mac Survey of Lenders found that the 30-year fixed home loan rate is currently averaging 3.75% and that the 15-year fixed is at 2.97%. Historically, this is unprecedented, especially the 15-year loan being under 3%. ...continue reading
A snowy day in Spring makes it a good time to catch up on the Big Bear real estate market. Quarter one is done – Let’s see how the Big Bear real estate market faired:
2012 has gotten off to quite an impressive start. Seasonally in Big Bear, most of the transactions done in any particular year occur in summer and fall and as such, the first quarter in Big Bear doesn’t necessarily define how the year will turn out. That said, this established momentum should not be ignored as it will certainly help maintain traction heading into summer. ...continue reading
Hello from Big Bear! Thanks for checking in with me on the Big Bear real estate market. No one was skiing in shorts on St. Patrick’s Day this year. Over two feet of new snow has fallen in the last few days, extending the winter ski season into spring. All this new snow doesn’t make it easy for potential buyers to come up and look for homes to buy, but, so far this year, we are seeing an increase in activity across the board as compared to 2011.
There are currently 549 active residential homes listed for sale in Big Bear and 116 currently in escrow, leading to a brisk absorption rate of 21%, and only 4.7 months of inventory currently available. ...continue reading
Thanks for checking in with me on the state of affairs in the Big Bear real estate market. Let’s get caught up on the current market:
When looking at the entire Big Bear Valley in January of this year compared to 2011, a couple numbers jump out: The year started out with a very strong month: overall, the average residential sales price increased 9.3% with the bulk of that increase coming from areas of Big Bear City (up 17.9%) and Sugarloaf (up 16.9%). However, we also saw the average sales price decline in Moonridge (off 25%) and Big Bear Lake proper (off 7.7%.) ...continue reading
Last year was another white knuckle ride for those looking to buy or sell real estate in Big Bear. 2011 was indeed an interesting year for Big Bear real estate. I heard our market described as a manic depressive’s paradise and, although that might be a slight exaggeration, it was indeed hard to pin down the momentum and direction of the market as it seemed to oscillate from, "yes, the sky is actually falling" to "let’s buy some land and start building spec homes again." I did observe much more activity from speculative ‘flip’ type investors this year. Many of whom actually squeaked out respectable gains. It was encouraging to see homes in Big Bear, albeit with work involved on these properties, actually sell for more than was paid on a somewhat regular basis. ...continue reading