Market Wide Summary
Big Bear Real Estate market snapshot for the month of October 2016
The median sales price of single family homes in October decreased by 2% compared to the previous month. However, average sales price was up 4% from September, and was 6% higher compared to the average sales price over Jan-Oct of last year.
List Price vs. Sale Price and Days on Market
Properties sold in October went for 97% of the asking price after 95 days on market on average, compared to 97% and 99 DOM in September. The list-to-sell price ratio was also 97% on average over Jan-Oct 2015.
Big Bear Inventory Trends
Total inventory was down 1% month over month. However, there were 24 more new listings in October than in September. The total number of homes on the market last month was the same as it was in October of last year. Distressed listings, bank-owned and short sales, account for about 1.5% of the current inventory.
Closed Transactions
There were 119 sales in October, which was just 1 fewer than in September, and 2 more than in October of last year.
Leave a Reply