Market Wide Summary
Big Bear Real Estate market snapshot for the month of July 2017
The median sales price of single family homes in July decreased by 15% compared to the previous month. Average sales price was down 11% from June, though was 2% 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 98% of the asking price after 100 days on market on average, compared to 98% and 99 DOM in June. The list-to-sell price ratio was 97% on average over Jan-Jul 2016.
Big Bear Inventory Trends
Total inventory was up 9% month over month though there were 33 fewer new listings in July than in June. The total number of homes on the market last month was also about 11% lower than it was in July of last year. Distressed listings, bank-owned and short sales, account for less than 1% of the current inventory.
There were 118 sales in July, which was just 1 less than the previous month, though 23 fewer sales than in July of last year. The total number of sales year-to-date is 16% higher compared to the same period last year.