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Big Bear Real Estate – Monday Market Update For 12/15/2008

Big Bear Real Estate DataBelow is your weekly update for the Big Bear real estate market as of 12/15/2008.

The number of residential properties listed for sale in Big Bear now stands at 1046, up 13 from 1033 last week. Though it did go up over the past week, I still expect this number to dip under 1000 as we head into the first four months of 2009.

The number of houses in escrow now stands at 100 (10.4% of the total listings), identical to last week, while the number of closed sales stands at 638 year-to-date, up 11 from last week.

There are currently 376 vacant land listings for sale in Big Bear, which is 2 more than the number last week. The number of pending sales stands at 10, up 1 from the week prior, which is only 3% of the total vacant lot listings.

Selling a piece of vacant land in this market continues to be nearly impossible. Unless you are willing to take a big hit on the price, I would recommend holding on to the property until the market changes quite dramatically.

Closed sales for vacant land stands at 68 sales for the year, same as last week.

The number of condos for sale in Big Bear is 51, down 1 from last week, while the number of pending sales moved up 1 to a total of 3 condos in escrow. The number of condos sold in Big Bear for the year stands at 21 total, identical the past couple weeks.

Property Type Listings for Sale Pending Sales Sales Year to Date
RESIDENTIAL 1046 100 638
VACANT LAND 376 10 68
CONDOS 51 3 21

Government lease properties in Big Bear saw a little bit of activity. There are now 11 for sale (down 1), 0 pending sale (down 1), and 11 closed sales (up 1) this year for the these types of cabins.

The number of commercial & residential investment opportunities on the market stands at 52, down 2. There are 6 pending sale, up 1 from last week, and a total of 15 closed year-to-date, same as the previous two weeks.

Business opportunity listings stand at 14 for sale (same), while closed sales for the year and pending escrows are 6 & 1 respectively, identical to the week prior.

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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