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Big Bear Real Estate – Monday Market Update For 12/8/2008

Big Bear Real Estate DataBelow is your weekly update for the Big Bear real estate market as of 12/8/2008.

The number of residential properties listed for sale in Big Bear now stands at 1033, down from 1049 last week. There was a large drop the past two weeks because many home listings expired from the market around the Dec. 1 time frame.

The number of homes for sale in Big Bear will continue to go down in the winter months as the market slows down. Winter is not the best time to sell so many sellers will take their homes off of the market and try again come spring time.

The number of houses in escrow now stands at 100, up 9 from last week (hooray!), while the number of closed sales stands at 627 year-to-date, up 8 from last week.

There are currently 374 vacant land listings for sale in Big Bear, which is 5 less than the number last week. The number of pending sales stands at 9, same as the week prior, which is only 2% 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, up just 1 from last week.

The number of condos for sale in Big Bear is 52, the same as last week, while the number of pending sales remained at 2. The number of condos sold in Big Bear for the year stands at 21 total, identical to last week.

Property Type Listings for Sale Pending Sales Sales Year to Date
RESIDENTIAL 1033 100 627
VACANT LAND 374 9 68
CONDOS 52 2 21

Government lease properties in Big Bear remained status quo this week. There are still 12 for sale, 1 pending sale, and 10 closed sales this year for the these types of cabins.

The number of commercial & residential investment opportunities on the market stands at 54, down 1. There are 5 pending sale, up 1 from last week, and a total of 15 closed year-to-date, same as the previous week.

Business opportunity listings stand at 14 for sale, down 1, while closed sales for the year and pending escrows are 6 & 1 respectively, up 1 for sales and the same for escrows.

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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