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Big Bear Real Estate – Monday Market Update For 1/5/2009

Below is your weekly update for the Big Bear real estate market as of 1/5/2009, the first one for 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 954 -79 106 +8 0 n/a
VACANT LAND 341 -36 6 -1 0 n/a
CONDOS 48 -4 3 0 0 n/a
GOVERNMENT LEASE 11 0 0 0 0 n/a
TOTAL 1419 -170 120 +6 0 n/a

A few notes about the market

The residential inventory dropped under 1000 for the first time in a few years. This is mainly because many properties came off of the market as of the 1st of the year.  I do expect some of them to come back on the market in the next few weeks so the number of homes for sale should push up a little for the short term. It will ultimately drop though during the winter months.  Getting down closer to 800-900 homes for sale would be my guess.

Given that this was the first week of 2009, sales YTD are 0 so far.  Obviously, I expect this number to increase.  It will interesting to compare the first few months of sales this year as compared to 2008.  January & February of last year were the slowest we have seen.

Residential properties continue to dominate what is selling, making up 106 of the 120 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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