Market Wide Summary
There is a continuing trend of rising property values in the Big Bear area, though we did see a slight dip in average and median sold prices from the prior month. The median sales price of single family homes in February decreased by 16% compared to the previous month and is even with where it was in February of last year. Average sales price is up 10% from February 2014. It was forecasted by the California Association of Realtors that property values across the state will continue to rise this year and next.
Big Bear Inventory Trends
Inventory in February was down 16% versus the prior month, though was up 10% versus last year. The current inventory is 44% 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 3% of the current inventory.
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