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May 2019 Market Update by Mike SannesBig Bear Real Estate - The Mike Sannes Team, July 5, 2019

Hello From Big Bear!

I hope the summer has been treating you well. The weather could not be better here in Big Bear (finally!) Here's a quick summary of what’s been happening in Big Bear real estate so far this year, as of the end of May.

Sales by Area, May 2019There has been an impressive 6.1% increase in transactions (Jan - May 2019 vs same period of 2018). Low interest rates are strengthening demand and should continue to do so for at least the remainder of this year. (April, typically a slow month for sales here in Big Bear, saw a whopping 46% increase in transactions:  74 in 2018 vs 108 in 2019.)

Prices have been relatively flat (1.0% increase year over year). However, the much-improved lake level and rock-bottom interest rates make me think that we should see more appreciation in the second half of 2019 than we have seen in the first half of the year. The average price of all those sold in Q1 was $366K (In May it was $358K)

Sales by Price Ranbge, May 2019Of the total number of sales (453 homes) – 85% of those were under $500K. However, the price range between $750K - $1 million did see an encouraging 80% bump in sales from last year.

Based on a 45-day close, inventory (517 active listings) sits at just under 6 months currently, which describes a balanced market (not really a sellers or a buyers market at the moment).

With the recent increase in inventory (typical for this time of year in Big Bear), the absorption rate sits at 24% (down from 30% in winter months).  This means that roughly 1 out of every 4 homes listed, is selling every month. Moonridge and Sugarloaf, however, are much hotter areas as the absorption rate there is currently 36%.

Average days-on-market is currently 106 (up slightly from 95 last year), and our current sale-to-list price ratio is 97% (down from 98% at this time last year).

I hope you find this information useful. If you, or anyone you know, is interested in buying or selling in Big Bear, or if you are just curious regarding your homes current value (FYI - Zillow is not the place to look for an accurate assessment of value for Big Bear properties), please do let me know. I look forward to hearing from you and am happy to help. THANKS!!

June 2018 Market Update by Mike SannesBig Bear Real Estate - The Mike Sannes Team, June 15, 2018

Hello from Big Bear and thanks for checking in with us regarding Big Bear real estate. As we are already over five months into 2018, let’s dive right in and catch up on the happenings in the Big Bear real estate market.

The listing season is well underway and the number of homes for sale here in Big Bear has significantly increased since our last update. You’ll recall from our first-quarter update that the inventory, which typically declines in the winter months, dropped much more than usual this winter. In February of this year there were only 262 active residential listings; this is the lowest we have have seen since I began selling real estate here in Big Bear in 2004. However, by mid-April there were 364 active listings and currently there are 469 active residential listings on the Big Bear MLS. As expected, we have seen a substantial increase in supply as we head into summer. ...continue reading

By Mike Sannes, Big Bear Real Estate - The Mike Sannes Team, October 9, 2016

Thanks for checking in with us regarding the Big Bear real estate market. Let’s get right to it.

The 3rd quarter of 2016 is now in the books, so let’s take a look at the current "state of the market" as we prepare to slide into winter. There are currently 527 active residential listings on our Big Bear MLS and, as there are 197 homes currently in escrow, that equates to 4 months of inventory based on a typical 45 day closing.

My How Times Have Changed

The days of the ‘distressed market’ in Big Bear have passed: only 1.3% of our active inventory is ...continue reading

By Mike Sannes, March 10, 2016

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 by AreaResidential 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

By Mike Sannes, February 26, 2016

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.

Big Bear Real Estate - Monthly Residential Sales
Monthly Residential Sales in Big Bear Valley

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.

...continue reading

By Mike Sannes, March 18, 2015

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