Big Bear Real Estate Market Stats for the month of June 2024
Market Wide Summary
The average sales price of single family homes in Big Bear in June was down 3% compared to the previous month, and the median sales price was up 4%. Average sold price per square foot remained the same month over month at $405/sq ft. Average sales price over Jan-June 2024 was 3% lower and median sales price was down 2% compared to Jan-June 2023.
List Price vs. Sale Price and Days on Market
Properties sold in June went for 97% of the asking price after 100 days on market on average, compared to 98% and 98 DOM in May. The list-to-sell price ratio was 98% on average over Jan-June, as it was over Jan-June 2023.
Big Bear Inventory Trends
Total inventory* increased by 27% month over month, though there were 67 fewer new listings in June than in May. The total number of homes on the market last month was about 46% more than it was in June of last year. As of this writing, there are 450 single family homes for sale in Big Bear.
*Total listed inventory numbers as of the 15th of each month.
Closed Transactions
There were 52 sales in June, which was 7% less than in May, and 19% less than in June of last year. However, the total number of sales Jan-Jun was just 5% lower compared to sales over the same period last year.
Home Prices By Quarter
The graph below shows average and median home prices in each quarter over the past 5 years. We can see that after a peak in home prices in the first quarter of 2022, a decline for the rest of 2022, and then relatively steady sale prices from Q1 2023 to present; especially the average sales price over the last 9 months.
*Data derived from Big Bear Association of REALTORS®, Inc. (BBV) MLS. Information herein deemed reliable but not guaranteed.
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