Hello and thanks for checking in with us regarding the Big Bear real estate market. It is hard to believe, but the first quarter of 2017 is already more than half way complete. So let’s get caught up on what has been happening with Big Bear’s unique real estate market shall we?
January Marked a Strong Start to 2017
January in Big Bear has historically been a month where we see sales begin to slow, as there are typically fewer homes on the market in the winter months as well as fewer home buyers in the market. January 2017, however, seems to have bucked this trend as there were 86 residential closings as compared to 66 in January 2016, an incredible 30.3% increase! In fact, the 86 closings we saw this January are the most sales we have seen in the month of January in over 10 years.
Thanks for checking in with us on the Big Bear real estate market. This year has seemingly flown by once again. With the holiday season right around the corner, let’s get caught up on the happenings in Big Bear’s unique resort market.
Residential Sales Relatively Flat, Shift to Higher Price Continues
2016 has been a solid year for real estate in Big Bear. The number of residential sales overall (Jan-Nov 2016 vs. the same period last year) was relatively unchanged, posting a slight decrease of 1% with 1,074 closings in 2016 vs. 1,085 in 2015.
It is interesting to note the distribution of sales in the different areas of Big Bear as well as in different price ranges. The trend we have seen, where the bulk of the demand is moving up from the $0 - $250k price range and into the $250k - $500k price range, is still very much in effect. In fact, 3 years ago, 65% off all residential sales occurred under $250k (and 28% were between $250k -$500k,) whereas now 49% are under $250k and 42% are in the $250k-$500k range. ...continue reading →
First off, all of us at The Mike Sannes Real Estate Team would like to wish you and yours a fantastic Thanksgiving holiday. Thanksgiving is an amazing and truly American holiday that brings together family and friends to give thanks and celebrate the many blessings for which we are all grateful. Family, friends, great food and football, who could not be grateful for that! We hope you all enjoy a wonderful holiday weekend!! ...continue reading →
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 →
The long warm days of summer have recently transitioned into chilly (more like freezing) mornings here in Big Bear. But the Big Bear real estate market is not showing any signs of cooling off as we head into Fall. Thanks for checking in with us on the Big Bear real estate market. Let’s get caught up on what transpired in our unique resort market this summer, and look at what that indicates about what we can expect going forward.
Number of Homes Sold Down a Slight 3.1% ...
Through August of this year (as compared to the same time frame last year), the total number of residential properties that changed hands decreased slightly: Down 3.1% (720 closed Jan-Aug ...continue reading →
Hello from beautiful Big Bear Lake and thanks for checking in with us regarding the Big Bear real estate market. Summer is here and, as the first half of 2016 has literally flown by, let’s get caught up on the happenings in Big Bear’s unique resort market.
Big Bear’s real estate market is primarily driven by vacation home and 2nd home buyers, but as with all markets, supply and demand certainly still influence price.
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 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 →
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.
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.
Once again it seems the long days of summer have passed us quickly by. I hope the season has been full of fun for you! As it is well past time we got caught up on the happenings in the Big Bear real estate market, let’s get right to it.
The story in the Big Bear real estate market so far this year has been the increase in number of sales:
Through August, the number of residential homes sold here in Big Bear increased a solid 18.7% as compared to the same time period last year (736 closed Jan-August 2015 vs. 620 for that period in 2014)
In fact, as you will see in the bar graph below, over the last 10 years there has only been one other year, 2013, that exceeded this year's number of closed sales through August.
Hello and thanks for checking in with us regarding the Big Bear real estate market. Here in Big Bear, they say never plant your flowers before Mothers’ Day. This year proves that saying correct once again, as we woke up to 3-4 inches of new snow yesterday (Friday 5/8.) Happy (perhaps belated when you ready this) Mother’s Day to all the Moms!
Big Bear Real Estate Market Showing Solid Momentum
We have lots to catch up on, so let’s get right to it. The month of March put a cherry on top of what turned out to be a solid first quarter for the Big Bear real estate market. You may recall that January had most of the market watchers in Big Bear, myself included, scratching our heads as that month showed only 62 closed residential sales vs. 81 in January of 2014. After holding our collective breath, the activity in the market improved slightly in February with 70 sold vs. 67 in February 2014. ...continue reading →