Big Bear Real Estate – Monday Market Update For 1/12/2009
Below is your weekly update for the Big Bear real estate market as of 1/12/2009.
| Property Type | Listings for Sale | Change from Last Week | Pending Sales | Change from Last Week | Sales Year to Date | Change from Last Week |
|---|---|---|---|---|---|---|
| RESIDENTIAL | 936 | -18 | 115 | +9 | 6 | +6 |
| VACANT LAND | 338 | -3 | 8 | +2 | 0 | 0 |
| CONDOS | 51 | +3 | 2 | -1 | 1 | +1 |
| GOVERNMENT LEASE | 11 | 0 | 0 | 0 | 0 | 0 |
| COMMERCIAL & RES INVESTMENT | 51 | +1 | 4 | -1 | 0 | 0 |
| BUSINESS OPPORTUNITY | 14 | -1 | 0 | 0 | 0 | 0 |
| TOTAL | 1401 | -18 | 129 | +10 | 7 | +7 |
A few notes about the market -
The residential inventory continued to drop for the 4th straight week. There were a lot of properties that showed up as expired listings the first week of 2009, and very few have been re-listed back on the market. This is a good thing, sort of a cleansing of the market. We need to get the unrealistic sellers and properties off of the market so that the realistic and motivated sellers can get the buyer traffic and we can get these properties moved.
6 residential sales so far this year. I expect the January home sales will be very low as a continuation of the limited buyer interest and low sale numbers in November & December of 2008.
Residential properties continue to dominate what is selling, making up 115 of the 130 total properties that are in escrow. This means that if you are trying to sell anything but a residential property in Big Bear, you have your work cut out for you.
See last week’s Big Bear real estate market numbers.
Be sure to check back here every Monday for your Big Bear Market Update or sign up to get this emailed to you every week.
* Information updated weekly, courtesy of the Big Bear MLS. This update includes MLS data from areas including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, Fawnskin & Baldwin Lake. It does not include data from areas in the Big Bear MLS that are located outside of the Big Bear area or data on properties in Big Bear that are listed in other MLS systems.
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