The Big Bear Lake real estate market is in great shape if you're thinking of selling. Whether you're a primary home owner or you have a vacation home, now is the time to begin getting ready if you plan to sell this year.
In January and February of 2023, 177 homes were available for sale in the area. During that same period, the median list price for properties was $660,000 and the average days on the market was 88 days.
When it comes to pricing, it’s important to know how much homes in each category are selling for. Prices for 1-bedroom properties increased 11.3%, while prices of 2 bedrooms properties rose 9.8%. 3 and 4-bedroom properties also saw an increase, with 7.7% and 3.4% respectively. And 5 bedrooms properties saw a 6.3% increase.
When it comes to inventory, the number of 1-bedroom homes stayed relatively consistent. But there was a 12.5% increase in 2-bedroom homes, a 3.1% increase in 3-bedroom homes, and a 6.7% jump in 4-bedroom homes. However, 5-bedroom homes experienced a 9.1% decrease in availability.
It’s also important to note that more than 3 listings were sold over their listed price in February of 2023, while 21 were sold below list price and 6 were sold at list price. This data shows the importance of pricing your property correctly in order to maximize ROI.
The fact is, we are moving towards our traditional Spring and Summer "Selling Season". Market conditions are still slightly skewed in favor of a "Seller's Market". It's not as obvious as it was two years ago, but two years ago the market was insane. Now it's more balanced, and this is the time to start getting your property prepared if you are intending to sell it this year. Ideally, you want to be on the market about the middle of June so you're slightly "seasoned" on the market --- meaning most of the local agents are aware of the property --- by the time we get to the Fourth of July weekend.
At Bruin Trojan Realtors, Inc., we have the expertise and experience to help you navigate the Big Bear Lake, CA real estate market. With 45+ years in the business, we have the insider knowledge of up-to-date listings, market trends, property values, and more. We have the expertise to accurately assess the value of your home and provide reliable contacts for any services you need.
Give us a call directly at 909-585-5072 or visit the office at 42592 Moonridge Road, Big Bear Lake, CA, 92315 for more information about how we can help!
