Market Wide Summary
Big Bear Real Estate market snapshot for the month of February 2018
The median sales price of single family homes in February increased by 25% compared to the previous month, and average sales price was up 15% from January. Average sales price over Jan-Feb was 10% higher compared to the average sale price over the first 2 months of 2017.
List Price vs. Sale Price and Days on Market
Properties sold in February went for 97% of the asking price after 106 days on market on average, compared to 97% and 99 DOM in January. The list-to-sell price ratio was also 97% on average over Jan-Feb 2017.
Big Bear Inventory Trends
Total inventory was up 2% month over month and is still lower than its been in years. However, there were 12% more new listings in February than in January. The average number of homes on the market Jan-Feb was about 22% less then over Jan-Feb 2017. Distressed listings, bank-owned and short sales, account for about 1% of the current inventory.
Closed Transactions
There were 62 sales in February, which was 16% less than in January, and the number of sales closed last month was 15% lower than in February 2017.
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