Big Bear Real Estate Market Wide Summary – 2023
Year in Review
2023 was another interesting year for the Big Bear real estate market. Average sales price was down 3% and median sales price down 7%, compared to 2022.
List Price vs. Sale Price and Days on Market
Properties sold in 2023 went for 98% of the asking price after 89 days on market on average, compared to 101% and 57 DOM in 2022.
Big Bear Inventory Trends
Inventory levels increased significantly in the second half of 2023. Total average inventory* over 2023 was up 21% from the year prior. The graph below shows average inventory and new listings by month over the past two years.
*Total listed inventory numbers as of the 15th of each month.
Closed Transactions
There were 745 sales in 2023, a 29% decrease over the 1,056 transactions closed in 2022. The graph below shows the number of sales over the past two years broken down by month.
Average Sold Price per Square Foot by Area
See below for a breakdown of average sold price per square foot by area in 2023. Big Bear Lake West sold for the highest price per sq ft at $563, with Big Bear Lake Central coming in next, and then Moonridge.
Sold Price Range
40% of homes sold in Big Bear went for between $300-500K in 2023. Only 9% sold for under $300,000. 24% of homes sold for $700,000 or more.
Home Values in 2023 and 2024
In 2023, the average sales price in Big Bear decreased by about 3% market wide after peaking in 2022. Zillow research predicts that home values in Big Bear Lake will hold relatively steady, with a modest decrease of 1.1% over 2024.
*Data derived from Big Bear Association of REALTORS®, Inc. (BBV) MLS. Information herein deemed reliable but not guaranteed.
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