Market Wide Summary
Big Bear Real Estate market snapshot for the month of June 2016
The median sales price of single family homes in June decreased by 3% compared to the previous month. Average sales price was down 6% from May, though was 7% higher compared to the average sales price over the first half of last year.
List Price vs. Sale Price and Days on Market
Properties sold in June went for 98% of the asking price after 78 days on market on average, compared to 98% and 91 DOM in May. The list-to-sell price ratio was 97% on average over the first 6 months of 2016.
Big Bear Inventory Trends
Total inventory was up 19% month over month. However, there were 68 fewer new listings in June than in May. The total number of homes on the market last month was about 2% less than it was in June of last year. Distressed listings, bank-owned and short sales, account for about 1% of the current inventory.
Home Prices By Quarter
The graph below shows average and median home prices in each quarter since Q2 2011. We can see that home prices have risen fairly steadily over the last several years.
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