Market Wide Summary
Big Bear Real Estate market snapshot for the month of May 2016
The median sales price of single family homes in May increased by 5% compared to the previous month. Average sales price was up 9% from April, and was 4% higher compared to the average sales price over the first 5 months of last year.
List Price vs. Sale Price and Days on Market
Properties sold in May went for 98% of the asking price after 91 days on market on average, compared to 97% and the same DOM in April. The list-to-sell price ratio was also 97% on average over Jan-May 2015.
Big Bear Inventory Trends
Total inventory was up 13% month over month. There were 91 more new listings in May than in April. The total number of homes on the market last month was about 10% less than it was in May of last year. Distressed listings, bank-owned and short sales, account for about 2% of the inventory.
Closed Transactions
There were 84 sales in May, which was 2% more than in April, and 9% less than in May of last year.
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