Big Bear Real Estate Update for July 2014

 

 By Bob Angilella

 

As summer approaches, we begin to ready ourselves for a very busy real estate market!   The last week in June, has proven to be the key week, telling me that we will have a brisk real estate market.  May & June are normally our indicators as to what may occur for the summer Big Bear real estate selling season.   Comparing last year’s market YTD for the same time, we’ve had an average of  17% increase in overall price appreciation, but please remember, that was from a down market for the past 7 years of at least 50% from the all-time highs.

The 2nd quarter sales were down, about 34% overall from last year (2013-YTD)  With that in mind, inventory has climbed for the first time in 6 years with over 640 Active Listings as of  today, (June 28th)  To put that in perspective, last year at this time, we had approximately 550 Active listings.

So what does this all mean?   As we move into the best real estate sales season of the year, that will be our indicator.  This past week, we have been very, very busy.  Buyers seem to be taking advantage of the abundance of inventory, and lowering interest rates (4.375%)   Is it a buyers’ market or… is it a seller’s market?   Neither, we are in a normal market.  Prices are stable, and inventory is slightly above average for our area.

This summer may prove to be one of the best real estate markets Big Bear has seen in a long time.  A good selection of inventory, low interest rates make for a great market for the buyers, and a stable market for the sellers.   No one can predict what the future may hold, however, one thing for sure, Big Bear is a specialty market, a four season resort get away, a great place to spend your days fishing, hiking, biking and having fun.  Now is a perfect time to list and buy a home in the Big Bear Lake area.  

When you’re ready to that, contact me, we can help.  Thank you and see you soon in Big Bear Lake.

Bob Angilella

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