Market Wide Summary
Big Bear Real Estate market snapshot for the month of November 2016
The median sales price of single family homes in November increased by 7% compared to the previous month. Average sales price was up 2% from October, and was 7% higher compared to the average sales price over Jan-Nov of last year.
List Price vs. Sale Price and Days on Market
Properties sold in November went for 98% of the asking price after 120 days on market on average, compared to 97% and 95 DOM in October. The list-to-sell price ratio was 97% on average over Jan-Nov 2015.
Big Bear Inventory Trends
Total inventory was down 13% month over month. There were 29 fewer new listings in November than in October. The total number of homes on the market last month was also 13% lower than it was in November of last year. Distressed listings, bank-owned and short sales, account for 2% of the current inventory.
Closed Transactions
There were 108 sales in November, which was 14 fewer than in October, and 9 fewer than in November of last year.
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