Market Wide Summary
Big Bear Real Estate market snapshot for the month of January 2017
The median sales price of single family homes in January increased by 1% compared to the previous month, though average sales price was up 6% from December, and was 4% higher compared to the average sale price over all of 2016.
List Price vs. Sale Price and Days on Market
Properties sold in January went for 97% of the asking price after 104 days on market on average, compared to 98% and 122 DOM in December. The list-to-sell price ratio was 97% on average over all of 2016.
Big Bear Inventory Trends
Total inventory was down 12% month over month. There were also 6% fewer new listings in January than in December. The total number of homes on the market last month was about 10% less then in January 2016. Distressed listings, bank-owned and short sales, account for 2% of the current inventory.
Closed Transactions
There were 81 sales in January, which was 24% less than in December, though the number of sales closed last month was 23% higher than in January 2016.
Leave a Reply