Big Bear Real Estate Market Stats for the month of October 2022
Market Wide Summary
As temperatures continue to cool off in Big Bear, so does the real estate market. The total number of sales of single family homes in October was down 7% compared to the prior month. The average sales price was down 4% compared to the previous month, and the median sales price was down 2%. However, average and median sales price over Jan-Oct 2022 were both 17% higher compared to the same period in 2021.
List Price vs. Sale Price and Days on Market
Properties sold in October went for 98% of the asking price after 79 days on market on average, compared to 97% and 71 DOM in September. The list-to-sell price ratio was 101% on average over Jan-Oct 2022, compared to 103% over Jan-Oct 2021.
Big Bear Inventory Trends
Total inventory* was down 7% month over month, though there was a 5% increase in new listings in October compared to September. The total number of homes on the market last month was 114% higher than it was in October last year. As of this writing, the active inventory is at 278.
There were 92 sales in October, which was 38% fewer than in October 2021. The total number of sales Jan-Oct was 34% lower compared to sales Jan-Oct 2021. *Data derived from Big Bear Association of REALTORS®, Inc. (BBV) MLS. Information herein deemed reliable but not guaranteed.