Big Bear Real Estate Market October 2020

Big Bear Real Estate Market Stats for the month of October 2020

Market Wide Summary

We continued to see unprecedented market activity in Big Bear in October. Inventory dropped to a historic low, and bidding wars were commonplace. For the first time over the past 6 consecutive months, the number of total sales of single family homes was lower than the month prior; down by 23%. The average sales price was up 2% compared to the previous month, and the median sales price was up 5%. Average sales price over Jan-Oct was 29% higher compared to 2019 over the same period. 

List Price vs. Sale Price and Days on Market

Properties sold in October went for 102% of the asking price after 63 days on market on average, compared to 101% after 68 DOM in September. The list-to-sell price ratio was 99% on average over Jan-Oct 2020; 98% over Jan-Oct 2019.

Big Bear Inventory Trends

Total inventory* was down 13% month over month, and there was a 23% decrease in new listings in October compared to September. The total number of homes on the market last month was about 77% lower than it was in October of last year. As of this writing, the active inventory is at just 112!  *Total listed inventory numbers as of the 15th of each month.

Closed Transactions

There were 193 sales in October, 57 fewer than the previous month. There were 40% more sales in October 2020 compared to October 2019. The total number of sales Jan-Oct was 32% higher compared to sales Jan-Oct 2019. *Data derived from Big Bear Association of REALTORS®, Inc. (BBV) MLS. Information herein deemed reliable but not guaranteed.