Market Wide Summary
Big Bear Real Estate market snapshot for the month of July 2015
The median sales price of single family homes in July increased by 9% compared to the previous month, and was 9% below where it was in July of last year. Average sales price was up 13% from last month, and was up 1% compared to July 2014.
List Price vs. Sale Price and Days on Market
Properties sold in July went for 97% of the asking price after 100 days on market on average, compared to 97% and 82 DOM in June and 97% and 73 DOM in July of last year.
Big Bear Inventory Trends
Inventory continues to grow. The number of homes on the market in July was up 7% versus the prior month, though was down 22% compared to July last year. The current inventory is 19% lower than it was in August 2014. Distressed listings, bank-owned and short sales, account for less than 1% of the current inventory.
Closed Transactions
There were 107 sales in July, 7 more than in June. The number of closed transactions was 7% higher than in the prior month and was also up 7% compared to July of last year.
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