Big Bear Real Estate Market Stats for the month of September 2020
Market Wide Summary
We continued to see unprecedented market activity in Big Bear in September. Sales were up, inventory was historically low, and bidding wars were commonplace. The total number of sales of single family homes was up 10% compared to the prior month. The average sales price was up 15% compared to the previous month, and the median sales price was up 5%. Average sales price over Jan-Sept was 26% higher compared to 2019 over the same period.
List Price vs. Sale Price and Days on Market
Properties sold in September went for 101% of the asking price after 68 days on market on average, compared to 99% and 101 DOM in August. The list-to-sell price ratio was 99% on average over Jan-Sept 2020, compared to 98% over Jan-Sept 2019.
Big Bear Inventory Trends
Total inventory* was down 12% month over month, and there was a 13% decrease in new listings in September compared to August. The total number of homes on the market last month was about 76% lower than it was in September last year. 
*Total listed inventory numbers as of the 15th of each month.
Closed Transactions
There were 247 sales in September, which was more than double the number of sales in September 2019. The total number of sales Jan-Sept was 31% higher compared to sales Jan-Sept 2019. 
Home Prices By Quarter
The graph below shows average and median home prices in each quarter since over the past 5 years. We can see that home prices had risen fairly steadily and then spiked at the third quarter of this year. 
*Data derived from Big Bear Association of REALTORS®, Inc. (BBV) MLS. Information herein deemed reliable but not guaranteed.
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