Big Bear Lakefront Information

Today I decided to take a look at sales trends over the past 6 years to see if anything interesting popped out.  Below are sales reported by our MLS from 2003 through 2008.  I’ve listed number of homes sold, average days on market, average list price, average sales price, median sales price, and sales price to list price ratio for each year. 

2003 Lakefront Sales

Number of Homes Sold:  22

Average Days on Market:  96

Average List Price:  $898,584

Average Sales Price:  $845,068

Median Sales Price:  $703,750

Sales Price/List Price:  96%

2004 Lakefront Sales

 Number of Homes Sold:  23

Average Days on Market:  118

Average List Price:  $935,086

Average Sales Price:  $904,208

Median Sales Price:  $824,500

Sales Price/List Price:  96%

2005 Lakefront Sales

 Number of Homes Sold:  43

Average Days on Market:  101

Average List Price:  $1,272,536

Average Sales Price:  $1,213,295

Median Sales Price:  $1,025,000

Sales Price/List Price:  97%

2006 Lakefront Sales

 Number of Homes Sold:  34

Average Days on Market:  127

Average List Price:  $1,519,585

Average Sales Price:  $1,391,191

Median Sales Price:  $1,100,000

Sales Price/List Price:  92%

2007 Lakefront Sales

Number of Homes Sold:  20

Average Days on Market:  132

Average List Price:  $1,523,836

Average Sales Price:  $1,438,973

Median Sales Price:  $1,420,000

Sales Price/List Price:  94%

2008 Lakefront Sales

Number of Homes Sold (from January to November 10):  13

Average Days on Market:  190

Average List Price:  $1,459,453

Average Sales Price:  $1,307,230

Median Sales Price:  $1,350,000

Sales Price/List Price:  90%

Things that stick out to me

Obviously there’s a big drop off in sales in 2008.  That is expected.  Sales Price/List Price ratios have also dropped which is expected with so many homes on the market.  Days on Market has increased with Supply.  What’s interesting to see is that sales prices haven’t dipped like the rest of the market.  We’ve seen depreciation of approximately 20-30%  throughout the valley but the lakefront market has been relatively stable.  Click here to read a recent article regarding lakefront homes by Tyler Wood who also works at Coldwell Banker.