November 2018 Market Update by Mike Sannes, Big Bear Real Estate - The Mike Sannes Team, November 9, 2018
Hello from Big Bear and thanks for checking in with us regarding Big Bear real estate. There is quite a bit to catch up on since our early summer update, so let’s dive right in.
What a roller coaster ride 2018 has been for the Big Bear real estate market. If you recall, we ended the 1st quarter (Q1 market update) with a solid 10.8% year-over-year average sales price gain. The perfect storm of historically low supply, combined with higher than normal demand for that time of year due to our complete lack of a snow-filled winter, fueled the 1st quarter increase. In fact, by the end of May the increase in the average sales price here in Big Bear peaked at 15% (3% a month for 5 months straight!). ...continue reading