Market Wide Summary
Big Bear Real Estate market snapshot for the month of September 2015
The median sales price of single family homes in September increased by 12% compared to the previous month, and was 10% year-to-date above where it was January-September of last year. Average sales price was up 14% from last month, and was 5% higher YTD compared to what it was January-September 2014.
List Price vs. Sale Price and Days on Market
Properties sold in September went for 98% of the asking price; same as in August. Average marketing time was 99 days, down from 111 days on market in August. The average list to sell price ratio is at 97% year-to-date, about the same as it was January-September 2014.
Big Bear Inventory Trends
Inventory was down slightly month over month, which is typical as we head into fall. There were also 6% fewer new listings in September than in August. The total number of homes on the market in September was down nearly 3% versus the prior month, though was 21% lower compared to September 2014. The average inventory year-to-date is 11% lower than it was January-September 2014. Distressed listings, bank-owned and short sales, account for less than 1% of the current inventory.
Home Prices By Quarter
The graph below shows average and median home prices in each quarter since Q3 2010. We can see that home prices have risen fairly steadily over the last couple of years. It is interesting to note how significantly prices dipped in the second quarter of 2015 and then raised again in the third quarter.
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