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Big Bear Real Estate – Monday Market Update For 12/22/2008

Big Bear Real Estate DataBelow is your weekly update for the Big Bear real estate market as of 12/22/2008.

The number of residential properties listed for sale in Big Bear now stands at 1039, down 7 from the 1046 total for last week. This number should continue to drop as we head into the slower winter months and sellers take their properties off of the market.

The number of houses in escrow now stands at 95 (9% of the total listings), down 5 from last week, while the number of closed sales stands at 644 year-to-date, up 6 from last week.

There are currently 374 vacant land listings for sale in Big Bear, which is 2 less than the number last week. The number of pending sales stands at 9, down 1 from the week prior, which is only 2.4% 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 69 sales for the year, up 1 from last week.

The number of condos for sale in Big Bear remains at 51, and the number of pending sales remained the same as well with 3 condos currently in escrow. The number of condos sold in Big Bear for the year stands at 21 total, identical the past three weeks.

Property Type Listings for Sale Pending Sales Sales Year to Date
RESIDENTIAL 1039 95 644
VACANT LAND 374 9 69
CONDOS 51 3 21

Government lease properties in Big Bear saw no activity the past week. There are still 11 for sale, 0 pending sale, and 11 closed sales this year for the these types of cabins.

The number of commercial & residential investment opportunities on the market stands at 53, up 1 from last week. There are 6 pending sale, same as last week, and a total of 15 closed year-to-date, same as the previous three weeks.

Business opportunity listings stand at 15 for sale, up 1, pending escrows are 0, down 1, and closed sales for the year remain at a total of 6.

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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