Big Bear Real Estate Market Stats for the month of August 2020
Market Wide Summary
We continued to see unprecedented market activity in Big Bear in August. Sales were up, inventory dropped to historic lows, and bidding wars were commonplace. The number of total sales of single family homes was up 16% compared to the prior month. The average sales price held relatively steady compared to the previous month, and the median sales price was up 8%. Average sales price over Jan-Aug was 21% higher compared to 2019 over the same period.
List Price vs. Sale Price and Days on Market
Properties sold in August went for 99% of the asking price after 101 days on market on average, same as in July. The list-to-sell price ratio was 98% on average over Jan-Aug 2020, as it was over Jan-Aug 2019.
Big Bear Inventory Trends
Total inventory* was down 34% month over month, and there was a 16% increase in new listings in August compared to July. The total number of homes on the market last month was about 72% lower than it was in August of last year. As of this writing, the active inventory is at just 143!
*Total listed inventory numbers as of the 15th of each month.
Closed Transactions
There were 222 sales in August, 30 more than the previous month. There were 76% more sales in August 2020 compared to August 2019. The total number of sales Jan-Aug was 17% higher compared to sales Jan-Aug 2019.
*Data derived from Big Bear Association of REALTORS®, Inc. (BBV) MLS. Information herein deemed reliable but not guaranteed.
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