Market Wide Summary
Big Bear Real Estate market snapshot for the month of November 2015
The median sales price of single family homes in November decreased by 9% compared to the previous month, and is 11% higher year-to-date than where it was January-November of last year. Average sales price was down 3% from last month, and was 4% higher YTD compared to January-November 2014.
List Price vs. Sale Price and Days on Market
Properties sold in November went for 97% of the asking price after 123 days on market on average, compared to 97% and 110 DOM in October. The average list-to-sell price ratio is steady at 97% YTD and was the same as it was January-November 2014.
Big Bear Inventory Trends
Total inventory was down 9% month over month. There were also 25% fewer new listings in November than in October. The total number of homes on the market in November was 24% lower compared to November 2014. The average inventory YTD is 12% lower than it was January-November 2014. Distressed listings, bank-owned and short sales, account for less than 1% of the current inventory.
Closed Transactions
There were 105 sales in November, which was 12 less than in October, and 4 more closed transactions than in November 2014.
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