Market Wide Summary
Big Bear Real Estate market snapshot for the month of August 2016
The median sales price of single family homes in August increased by 11% compared to the previous month. However, average sales price was down 6% from July, and was 10% higher compared to the average sales price over Jan-Aug of last year.
List Price vs. Sale Price and Days on Market
Properties sold in August went for 97% of the asking price after 85 days on market on average, compared to 97% and 93 DOM in July. The list-to-sell price ratio was also 97% on average over Jan-Aug 2015.
Big Bear Inventory Trends
Total inventory was up 4% month over month. There were 13 fewer new listings in August than in July. The total number of homes on the market last month was about 3.5% more than it was in August of last year. Distressed listings, bank-owned and short sales, account for about 1% of the current inventory.
Closed Transactions
There were 102 sales in August, which was 5% more than in July, and 12% less than in August of last year.
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