Big Bear Real Estate Market Stats for the month of May 2020
Market Wide Summary
As restrictions eased and things started opening up, we have seen a significant increase in Big Bear real estate market activity in May.
The number of total sales of single family homes in Big Bear was up about 11% compared to the prior month. There were 116% more new listings than what came on the market in April. The average sales price increased by 16% compared to the previous month, and the median sales price was up 5%. Average sales price over Jan-May was 7% higher compared to 2019 over the same period.
List Price vs. Sale Price and Days on Market
Properties sold in May went for 97% of the asking price after 112 days on market on average, compared to 96% and 133 DOM in April. The list-to-sell price ratio was also 97% on average over Jan-May 2020; same as it was over Jan-May 2019.
Big Bear Inventory Trends
Total inventory* was up 2% month over month, and there were 87 more new new listings in May than in April. The total number of homes on the market last month was just about 13% lower than it was in May of last year. *Total listed inventory numbers as of the 15th of each month.
There were 50 sales in May, 5 more than the previous month. There were 50% fewer sales in May 2020 compared to May 2019. The total number of sales Jan-May was 21% lower compared to sales Jan-May 2019. *Data derived from Big Bear Association of REALTORS®, Inc. (BBV) MLS. Information herein deemed reliable but not guaranteed.