April 2013 Big Bear Real Estate Stats

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Hi folks!
Average prices were all over the place last month because of a couple of very large properties that had been on the market for a very long time that finally sold.  One of these was the “Jeffries Mansion”, which was 11,150sqft and sold for $1.35M.  This property finally sold after 4 years of being on the market!  It was listed as a “lakeview property”, even though it was almost 2 miles from the lake (and I personally don’t remember any lakeviews from when I was there); but the fact that it was so large significantly brought down the $/sqft for the 6 lakeview properties that sold last month. There was also another large “lakeview” property that sold as a short sale in Ironwood and a large bank-owned property in Fox Farm that needed A LOT of work that added to the reduction in $/sqft in those areas.  As we’ve discussed with many of you in the past, $/sqft is most relevant when you are looking at an average-aged, average-sized home (if you take out the “Mansion”, the “average” home that sold in the city of Big Bear Lake (92315) last month was 1769sqft and built in 1974.  Typically, the smaller the home, the larger the $/sqft because the lot value comes more into play (for example, we sold a couple of very small homes in Big Bear Lake and Moonridge last month that came out to almost $300/sqft).  On the other hand, with a larger-than-average home, typically the $/sqft goes down because the lot value plays a lesser role and the construction cost of another 1000sqft on a very large home is relatively small compared to that of a small home (for example, at 11,150sqft and selling at $1.35M, the “Jeffries Mansion” technically sold at only $121.07/sqft – the same as Sugarloaf)!  Now that those properties are finally off the market, there are only 2 bank-owned properties left in 92315 (Big Bear Lake)!!!
Area #sales Avg. Sale Avg. $/sqft LP/SP DOM
BBC 28 $179,663 $127.02 98%  87
BBL-general 10 $321,600 $190.07 96% 254
BBL-lakeview  6 $413,447 $171.46 92%  91
BBL-lakefront N/A N/A N/A N/A N/A
FAWN  3 $256,666 $210.91 96% 189
FOX  6 $424,200 $152.99 95% 121
MOON 19 $259,403 $190.73 97%  82
SUGA  9 $106,144 $121.10 99%  36

April 2013 Big Bear Real Estate “Sold” & “Pending/Back-up” Lists/Happy Mother’s Day!

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Hi folks!

First of all, “Happy Mother’s Day” to all of the beautiful mothers out there!!

Below are links to the monthly lists of “Sold” and “Pending/back-up” properties for April.  It was another strong month with 118 total sold properties and another 240 that are either “pending” (in escrow) or “back-up only” (mostly reserved for short sales that already have an offer, but still waiting for bank approval) status.

118 “Sold” Properties

240 “Pending/Back-up” Properties

Finally, here is this weekend’s “What’s Up at 7000ft”, featuring lots of events for Mother’s Day, including Mother’s Day Brunch at Evergreen, Nottingham’s, and Bistro at the Mansion.  There is also Live Jazz at the Wolf Creek Wine Room; and for mom’s who like to get a little dirty, there’s the “Obstacles on the Bear 5K Experience” on Saturday, featuring a pond slide, wall rope climb, tractor tires, belly crawl, etc.!!!

what’s up 5-11-13

Have a great weekend!

 

 

March 2013 Big Bear Real Estate Statistics

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Hi folks!

It’s supposed to warm back up tomorrow, but it’s been chilly up here for the last few days (we actually got a surprise dusting of snow last night)!  Below are the monthly Big Bear real estate sales stats for the month of March.  As you can see, average sales prices and average $/sqft were up considerably in almost ALL areas that we track!!  There was also one “lakefront” in Fawnskin (actually across the street from the lake, but with dock rights) that sold for $335K, but was only 750sqft, so it came out to $446.67/sqft (almost exactly the same as the average $/sqft for lakefronts in BBL).
 Area  #Sales  Avg. Sale  Avg. $/sqft  LP/SP  DOM
 BBC  21   $203,495  $138.54  96%  104
 BBL-general  17   $314,611  $184.96  97%  105
 BBL-lakeview   4   $541,750  $264.41  98%  101
 BBL-lakefront   2  $1,969,000  $447.50  92%  77
 FAWN   1   $271,000  $180.67  94%  171
 FOX   6   $362,333  $185.08  98%  100
 MOON 15   $334,293  $184.67  97%  111
 SUGA 15   $125,000  $113.05  98%  163
Here’s a link to this weekend’s “What’s Up at 7000ft”.  Highlights this week include the Big Bear Big Bass Tournament, the Taste of Big Bear, and an Earth Day Celebration at the Discovery Center.
Have a great rest of your week!

 

March 2013 Big Bear Real Estate “Sold” & “Pending” Lists

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Hi folks,

Below are links to last month’s Big Bear Real Estate “Sold” and “Pending/Back-up only” lists.  There were another 117 properties that sold last month and an additional 218 in either “back-up only” or “pending” (escrow) status!  That brings us to only 376 single family residences available in the entire valley!

117 Sold:

Big Bear Real Estate “Sold”

218 Pending/Back-up:

Big Bear Real Estate “Pending/Back-up”

Snow Summit and Bear Mtn are scheduled to close this Sunday (April 7th); so come on up and enjoy one last day on the slopes for the 2012-2013 season and don’t forget to pick up your “Screamin-Deal” season passes for next season, if you haven’t done so already.

Finally, here’s this weekend’s edition of “What’s Up at 7000ft”.  Highlights include Uniform Days at Snow Summit and Bear Mtn, the Redlands Bicycle Time Trial, and Spring Jazz at the Wolf Creek Wine Room.

what’s up 4-6-13

Have a great weekend!!

Feb. 2013 Big Bear Real Estate Stats/What’s up for St. Patrick’s Day!

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Hi folks!

Before I forget to mention it, the “Screamin’ Deal” season passes went on sale this week for both resorts.  These are always the best prices of the year and good for the rest of this season, all summer long on the scenic sky chair (for mountain biking, hiking, or just sight-seeing), and all next winter season!!!
Below are the monthly Big Bear Real Estate sales stats for February.  Once again, we saw month-over-month increases in average $/sqft in almost all of the areas that we track.  Looking at the over-all data from Trulia, we see a 9.0% year-over-year increase in avg. $/sqft for Big Bear Lake and an additional 1.7% increase for median sales price.  When you break it down further and look at the types of properties, there was a 14.3% increase for 1-bedroom cabins, 3.2% increase for 2-bedroom cabins, and a 31.0% increase for 3-bedroom cabins!!!  This reinforces the fact that most sales are being made in the lower (under $500K) price range and that the luxury homes are taking a little longer to recover.  To see the full report with graphs, please click here: Trulia Sales Stats – Dec.2012-Feb.2013

Area # Sales Avg. Sale Avg. $/sqft LP/SP DOM
BBC 19 $144,147 $125.24  97%  83
BBL-general 13 $331,800 $165.86  96% 124
BBL-lakeview  3 $536,333 $207.56  98%  53
BBL-lakefront  1 $595,000 $521.02 100%  22
FAWN  3 $145,500 $156.84  90% 175
FOX  5 $721,980 $240.32  96%  53
MOON 13 $276,684 $188.34  96%  96
SUGA 11 $108,050 $111.21  97%  88


Finally, below is a link to this weekend’s “What’s Up at 7000ft”, featuring all kinds of events for St. Patrick’s Day, along with snowboard competitions and KROQ at the Mtn:

what’s up 03-16-13

Have a fantastic weekend!

February 2013 Big Bear Real Estate “Sold” and “Pending/Back-up” Lists and CA Market Update

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Hi folks!
Below are the February 2013 lists for Big Bear Real Estate “Sold” and “Pending/Back-up” properties. As you can see, it was another strong month for both sales and escrows, especially given that February was such a short month. In addition, these numbers will go up in a few days because of the amount of time that agents have to update statuses for the month. Once again, the lower-end properties (under $250K) are selling en masse and very quickly. We listed one last week for $189.9K and had an accepted offer within 2 days!
88 Sold:
224 Pending/Back-up:
As we’ve been discussing for a while, inventory in Big Bear is down considerably from 2 years ago and prices are on the rise. This is not a “Big Bear-only” phenomenon, but is happening state-wide, as well. Below is a link to a graphic released today from the real estate web-site Movoto, showing the increase in prices and decrease in inventory across the state of CA.
Finally, below is this week’s “What’s Up at 7000ft”. Highlights this week include the “War of Rails Freestyle Event” at Bear Mtn, USASA Bordercross Competition at Snow Summit, and the annual “Moonshine and Mayhem” Chamber Fundraiser at the Convention Center.
Have a great weekend!

January 2013 Big Bear Real Estate Statistics and “What’s Up” for Valentine’s Day!

Hi folks!
It looks like the manhunt is finally over and things are getting back to normal. For those of you planning to celebrate Valentine’s Day in Big Bear, here’s a little road info. Hwy. 330 and Hwy. 18 to Big Bear are open with no restrictions. Hwy. 38 is open to residents of Valley of the Falls, Mountain Home Village, and Angeles Oaks ONLY. Residents of these communities must show proper identification. Hwy. 38 remains inaccessible to all other traffic until the ongoing investigation is resolved.
Below are the monthly Big Bear Real Estate stats for January 2013. As you can see, the average $/sqft is either up or relatively unchanged from the previous month in almost all areas that we track. The only real exception was the one lakefront property that sold; but as we’ve discussed before, you can’t really use one sale to establish any kind of trend and winter is the best time to get a great deal on a lakefront!
Area # Sales Avg. Sale Avg. $/sqft LP/SP DOM
BBC 20 $170,545 $120.00 98% 111
BBL-general 10 $209,550 $181.52 96% 190
BBL-lakeview 2 $348,750 $199.90 98% 21
BBL-lakefront 1 $1,000,000 $293.43 86% 478
FAWN 5 $174,000 $165.93 97% 46
FOX 4 $455,000 $177.42 96% 202
MOON 17 $260,441 $171.05 96% 118
SUGA 16 $115,350 $115.24 94% 80
Below is a link to this weekend’s “What’s Up at 7000ft”, covering Valentine’s Day and Presidents’ Day weekend. Highlights include couples’ getaways, massages, and snowshoe tours.
Have a great weekend and a Happy Valentine’s Day!

January 2013 Big Bear Real Estate “Sold” and “Pending/Back-up” lists

Hi folks!

It’s time already for the first “Sold” and ”Pending/Back-up” lists of 2013!  As of this morning, there are only 329 active Big Bear area listings left for sale in our entire MLS.  Of those, only 17 are short sales and 19 are bank-owned (only 6 of those are in the “resort areas” of Big Bear Lake, Moonridge, and Fox Farm)!

92 Sold:

XPROP – Multi Row View

214 Pending/Back-up:

XPROP – Multi Row View

Also, here’s a link to this week’s “What’s Up at 7000ft”.  Highlights include the USASA Halfpipe Competition at Bear Mountain, Women’s Edventures Ski and Snowboard Clinics, “Uniform Days” at Snow Summit and Bear Mtn (offering discounted lift tickets to our men and women in uniform), and “Big Bear Idol” at the Performing Arts Center.

What’s Up 2-2-13

Finally, here’s an interesting link to a recent chart from the CA Association of Realtors showing average entry-level home prices, mortgage payments, and required incomes for different areas of CA, including Los Angeles and the Inland Empire.

Have a great weekend!

 

December 2012 Big Bear Real Estate Statistics

Hi folks,

Below are the monthly Big Bear Real Estate sales statistics for the month of December.  Once again, we saw several increases in avg. sales price and avg. $/sqft (especially in Big Bear Lake-general and Big Bear City); as well as the majority of homes selling within 5% of asking price (LP/SP).  In addition, the inventory of homes for sale has dropped even further.  As of this morning, the Big Bear MLS shows only 353 single family homes available for sale in the entire valley, with only 8 foreclosures in the best rental areas (Big Bear Lake, Moonridge, and Fox Farm).

Area #Sales Avg. Sale Avg. $/sqft LP/SP DOM
BBC 27 $178,953 $122.39 97% 123
BBL-general 11 $311,090 $179.83 97% 152
BBL-lakeview  5 $476,800 $165.01 98%  196
BBL-lakefront  5 $989,600 $338.21 92% 571
FAWN  3 $237,333 $156.46 89% 260
FOX  5 $414,700 $183.11 97% 237
MOON 15 $231,166 $170.77 96%  88
SUGA  9  $81,911 $100.97 100% 109

 

Here’s a link to this weekend’s edition of “What’s Up at 7000ft”.  Highlights include “Rock & Ride” at Bear Mtn Resorts (featuring DJ’s and local radio stations, KROQ, KIIS-FM, and KHTS) as well as the 2nd Giant Slalom Ski Race at Snow Summit.   Runs at both resorts are 100% open, but attendance has been huge, so book your tickets in advance online!

what’s up 01-19-13

Have a great rest of the week!

December 2012 Big Bear Real Estate “Sold” & “Pending” Lists

We hope everyone had a wonderful holiday season!  It’s been PACKED up here (it feels like everyone from Los Angeles and San Diego came up to our little mountain town over the last 2 weeks); but as work and school resume for many on Monday, it should slow back down a little to our usual winter craziness.  The real estate market has been very busy as well.  Even with all the holidays, there were 100 properties (incl. 5 lakefronts) that closed escrow last month and another 192 in “pending” or “back-up only” status.  That brings our current inventory of homes in the entire valley down to 367, with only 194 of those being in the good vacation rental areas of Big Bear Lake, Moonridge, and Fox Farm.
100 Sold:
192 Pending/Back-up:
Below is a link to this weekend’s “What’s Up at 7000ft”.  Highlights include day and night skiing, snowboarding, and tubing; as well as the USAA South Series Ski Race at Snow Summit and the Analog Design Feature Contest at Bear Mtn.
Have a great weekend!!