Market Wide Summary
Big Bear Real Estate market snapshot for the month of February 2016
The median sales price of single family homes in February increased by 3% compared to the previous month, though average sales price was down 4% from January, and was 4% higher compared to the average sale price over the first 2 months of 2015.
List Price vs. Sale Price and Days on Market
Properties sold in February went for 96% of the asking price after 108 days on market on average, compared to 97% and 115 DOM in January. The list-to-sell price ratio was 97% on average over Jan-Feb 2015.
Big Bear Inventory Trends
Total inventory was down 8% month over month. There were just about the same number of new listings in February as were in January. The total number of homes on the market last month was about 8% lower than it was in February 2015. Distressed listings, bank-owned and short sales, continue to account for less than 1% of the inventory.
Closed Transactions
There were 71 sales in February, which was 4% more than in January, though nearly the same number of sales closed last month as did in February 2015.
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