Market Wide Summary
Big Bear Real Estate market snapshot for the month of July 2016
The median sales price of single family homes in July decreased by 2% compared to the previous month. However, average sales price was up 14% from June, and was 9% higher compared to the average sales price over Jan-Jul of last year.
List Price vs. Sale Price and Days on Market
Properties sold in July went for 97% of the asking price after 93 days on market on average, compared to 98% and 76 DOM in June. The list-to-sell price ratio was also 97% on average over Jan-Jul 2015.
Big Bear Inventory Trends
Total inventory was up 8% month over month. There were 16 fewer new listings in July than in June. The total number of homes on the market last month was about 15% more than it was in July of last year. Distressed listings, bank-owned and short sales, account for about 1% of the current inventory.
Closed Transactions
There were 96 sales in July, which was 9% less than in June, and 13% less than in July of last year.
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