Market Wide Summary
Big Bear Real Estate market snapshot for the month of October 2015
The median sales price of single family homes in October decreased by 6% compared to the previous month, and is 11% year-to-date above where it was January-October of last year. Average sales price was down 5% from last month, and was 5% higher YTD compared to January-October 2014.
List Price vs. Sale Price and Days on Market
Properties sold in October went for 97% of the asking price after 110 days on market on average, compared to 98% and 99 DOM in September. The average list-to-sell price ratio is steady at 97% YTD and was the same as it was January-October 2014.
Big Bear Inventory Trends
Inventory was down 7% month over month. There were also 12% more new listings in October than in September. The total number of homes was 22% lower compared to October 2014. The average inventory YTD is 11% lower than it was January-October 2014. Distressed listings, bank-owned and short sales, continue to account for about 1% of the current inventory.
Closed Transactions
There were 114 sales in October, which was 3 less than in September and 12 less closed transactions than in October 2014.
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