Market Wide Summary
Property values continue to rise year over year in the Big Bear area. The median sales price of single family homes in April decreased by 18% compared to the previous month, though is 9% higher than it was in April of last year. Average sales price is up 2% from April 2014.
List Price vs. Sale Price and Days on Market
Properties sold in April went for 97% of the asking price after 122 days on market on average, compared to 95% and 113 DOM in March and 96% and 95 DOM in April of last year.
Big Bear Inventory Trends
Inventory in April was up 12% versus the prior month, though was down 5% compared to last year. The current inventory is 38% lower than it was in August 2014, and is less than half of what it was 5 years ago. Distressed listings, bank-owned and short sales, account for 2% of the current inventory.
The number of sales has continued to increase since the beginning of the year. The number of closed transactions is 7% higher than it was in the prior month and is up 20% compared to April of last year.