Market Wide Summary
Big Bear Real Estate market snapshot for the month of March 2016
The median sales price of single family homes in March decreased by 6% compared to the previous month, average sales price was down 2% from February, though was 2% higher compared to the average sale price over the first quarter of 2015.
List Price vs. Sale Price and Days on Market
Properties sold in March went for 97% of the asking price after 118 days on market on average, compared to 98% and 108 DOM in February. The list-to-sell price ratio was 97% on average over Jan-Mar 2015.
Big Bear Inventory Trends
Total inventory was up 5% month over month. There were 45 more new listings in March than in February. The total number of homes on the market last month was about the same as it was in March 2015. Distressed listings, bank-owned and short sales, continue to account for less than 1% of the inventory.
Home Prices By Quarter
The graph below shows average and median home prices in each quarter since Q1 2011. We can see that home prices have risen fairly steadily over the last several years. It is interesting to note how significantly prices dipped in the second quarter of 2015 and then raised again for the rest of 2015 and Q1 2016.