Big Bear Lake Year-to-Date Market Update – July 2015
By Bob Angilella
|
Year to Date: |
1/1/2013- 7/10/2013 |
1/1/2014- 7/10/2014 |
1/1/2015- 7/10/2015 |
|
Med.Sales Price: |
$180,000 |
$195,750 |
$219,000 |
|
Sold to List Price: |
97% |
97% |
97% |
|
Days on Market: |
56 |
66 |
73 |
|
Homes Sold: |
569 |
438 |
536 |
On all points the market is looking stronger than at this time last year. Big Bear Inventory is up to 625 residential listings. Interest rates on a 30-year fixed-rate mortgage dropped to 4.04%, down from 4.08% last week and 4.15% from a year ago. The rate on a 15-year fixed-rate mortgage fell to 3.20% from 3.24% last week.
We currently have 179 homes in either pending or back up status and closed sales as of July 10th for 2015 are at 536, up 98 compared to 438 at this time last year. Closed sales are slightly lower than in 2013 when there were 569 sold by July 10th.
For the beginning of 2014 we had a median sales price of $195,750 with listings selling for 97% of asking price and an average days on market of 66. Comparatively for the beginning of 2015 we have a median sales price of $219,000 (up about 10%), listings are selling at 97% of asking price but with an increased days on market of 73.
Thank you,
Bob Angilella
