Big Bear Real Estate Market Stats for the month of March 2020
Market Wide Summary
The average sales price of single family homes in Big Bear in March decreased by 15% compared to the previous month, though the median sales price was up 8%. Average sales price over Jan-Mar was 6% higher and median sales price was up 5% compared to the first quarter of 2019.
List Price vs. Sale Price and Days on Market
Properties sold in March went for 98% of the asking price after 101 days on market on average, compared to 97% and 113 DOM in February. The list-to-sell price ratio was also 98% on average over Jan-Mar, as compared to 97% over Jan-Mar 2019.
Big Bear Inventory Trends
Total inventory* was up 14% month over month, and there were 4 more new listings in March than in February. The total number of homes on the market last month was just about 2% higher than it was in March of last year. *Total listed inventory numbers as of the 15th of each month.
Home Prices By Quarter
The graph below shows average and median home prices in each quarter over the past 5 years. We can see that home prices have risen fairly steadily over the last several years. It is interesting to note that both average and median sold prices in the first quarter of this year were 30% higher compared to Q1 2015. That’s an average annual increase of 6% per year over the past 5 years. *Data derived from Big Bear Association of REALTORS®, Inc. (BBV) MLS. Information herein deemed reliable but not guaranteed.