Market Wide Summary
Big Bear Real Estate market snapshot for the month of August 2015
The median sales price of single family homes in August increased by 9% compared to the previous month, and is 8% year-to-date above where it was January-August of last year. Average sales price was up 1% from last month, and was just about even YTD compared to January-August 2014.
List Price vs. Sale Price and Days on Market
Properties sold in August went for 98% of the asking price after 111 days on market on average, compared to 97% and 100 DOM in July. The average list to sell price ratio is steady at 97% YTD and was about the same as it was January-August 2014.
Big Bear Inventory Trends
Inventory was down slightly month over month for the first time since March. There were also 34% fewer new listings in August than in July. The total number of homes on the market in August was down 2% versus the prior month, though was 20% lower compared to August 2014. The average inventory YTD is 9% lower than it was January-August 2014. Distressed listings, bank-owned and short sales, account for about 1% of the current inventory.
Closed Transactions
There were 115 sales in August, which was 5 more than in July and 15 more closed transactions than in July 2014.
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