Real
Estate in Big Bear will always be of interest to homeowners
and investors
alike. Where, within two hours of the city of Los Angeles,
can you find such a different environment, natural and serene?
Where, within just two hours again, can you be in the desert
community of Palm Springs? Take a look at Big Bear in 1995.
Walt Dwyer is still an active Realtor with ReMax RealEstate.
Big Bear Real Estate 1995
By Walt Dwyer
The 1995 Big Bear real estate mar¬ket has been a mixed
bag for the most part, as it was in 1994.
Through October of 1995, there were approxi¬mately 2550
properties for sale throughout the valley, with about 266 sales
pend¬ing and 725 closed escrows for the year. Average mar¬ket
time ran 323 days for all active listings, with an aver¬age
sale price of $115,000.
Of existing inventory available through October, about 1,350
were single family residential, 64 were condos, 41 were mobile
homes, 10 were Gov't leases, 16 were business opportunities,
93 were com¬mercial investment opportunities and 967 were
vacant lots.
Prices on all properties dropped an average of 20% from 1991
highs, but did stabilize for the most part last year. Traditionally,
December, October, then November rank as Big Bear's top three
months for real estate sales. Early editorial closing pre¬vents
analysis of the 4th quarter for 1995, but September, (normally
the 4th ranking month for real estate), did show more promise,
reaching 83% of our 10 year average, with a total of 148 recordings
for the month.
It's still a buyers market, but the best buys go quick. Are
we coming out of a bad real estate market? New construction
is up with positive feed¬back from local contractors who
are bidding or have contracts ready to go in the Spring...
another healthy sign that the market is recovering.
It appears that the number of units sold this year will be
about 80% of the ten year average. Although low pric¬ing
and a long marketing time were the norm in this year's market,
it looks and feels like better times are just down the road.
From the archives of Big Bear Magazine, January/February
1996. © Big
Bear Magazine, ABC Media and Promotions, Inc. All Rights Reserved.
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