Market Wide Summary
Big Bear Real Estate market snapshot for the month of June 2015
The median sales price of single family homes in June decreased by 12% compared to the previous month, and is 8% below where it was in June of last year. Average sales price is down 24% from last month, and is down 16% compared to June 2014.
List Price vs. Sale Price and Days on Market
Properties sold in June went for 97% of the asking price after 82 days on market on average, compared to 97% and 109 DOM in May and 97% and 81 DOM in June of last year.
Big Bear Inventory Trends
Inventory continues to grow. The number of homes listed in June was up 9% versus the prior month, though was down 20% compared to last year. The current inventory is 25% lower than it was in August 2014, and is at about half of what it was 5 years ago. Distressed listings, bank-owned and short sales, account for only 1% of the current inventory.
Home Prices By Quarter
The graph below shows average and median home prices in each quarter since Q2 2010. We can see that home prices have risen fairly steadily over the last couple of years. It is also interesting to note that the median home price has increased more in the first quarter of 2015 and has consequently dipped in the second quarter more significantly than in any other quarter over the last 5 years.
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