Big Bear Real Estate Update August 2013
As we evaluate the current market, and look back on July, we see a lot of positive progress in our Big Bear Real Estate market! Since the beginning of the year, the Big Bear market has been very busy and has reminded me of 2005 real estate boom when we had low inventory and high prices. Our prices have appreciated approximately 6 to 8% overall from the bottom of the market same time last year. Sales have increased as compared to last year, (January through June 2012) approximately 18% overall.
The biggest sales were logged in between $ 200,000 to $ 500,000, with a substantial sales increase of about 55% from last year. That is incredible! Also, our prices have stayed in check, without over inflating as I mentioned above. Foreclosures and short sales are on a down turn, and represents less than 15% of all sales year to date.
With the slight increase in interest rates, we have seen a surge of buyers with a sense of urgency, wanting to still take advantage of the rate and the low prices in Big Bear Lake. As of August 2, 2013, our inventory remains steady at around 500 active residential units. Historically, we carry around 700 units during this time of year. However, we have a continue stream of new inventory every day, so there is still a lot of new homes to choose from, but it would be prudent for you to begin your search if you are ready now!
I anticipate a brisk 2nd half of 2013 for our real estate market here in Big Bear Lake. If you're ready, contact us now to get started in your search for Big Bear Real Estate. We are the market leaders and inventory experts in Big Bear Lake, so contact us today! We have sold over 375 million in sales, with a staff to serve you 7 days a week. Thank you for checking in, and hope to see you soon.
Yours truly,
Bob Angilella
Big Bear's Top Realtor and Team
