Big Bear Real Estate Market Stats for the month of September 2022
Market Wide Summary
Though Big Bear real estate sales activity has shown signs of stabilizing over the past few months, the market is still navigating uncharted waters. The total number of sales of single family homes was down 9% compared to the prior month. The average sales price was down 17% compared to the previous month, and the median sales price was down 7%. Average sales price over Jan-Sept 2022 was 20% higher and median sales price was 19% higher compared to Jan-Sept 2021.
List Price vs. Sale Price and Days on Market
Properties sold in September went for 98% of the asking price after 72 days on market on average, compared to 100% and 59 DOM in August. The list-to-sell price ratio was 102% on average over Jan-Sept 2022, compared to 103% over Jan-Sept 2021.
Big Bear Inventory Trends
Total inventory* was down 10% month over month, and there was an 21% decrease in new listings in September compared to August. The total number of homes on the market last month was about 67% higher than it was in September last year. As of this writing, the active inventory is at 298.
*Total listed inventory numbers as of the 15th of each month.
There were 96 sales in September, which was 32% fewer than in September 2021. The total number of sales Jan-Sept was 33% lower compared to sales Jan-Sept 2021.
Home Prices By Quarter
The graph below shows average and median home prices in each quarter since Q2 2017. We can see that home prices had remained relatively steady for several years, then really took off beginning the second quarter of 2020, then started trending down after a peak in Q1 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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