Number of year to date closed residential sales - 681
Number of year to date closed residential sales 561 for the same period in 2008 +21.3%
Current Pending sales 154
39 of these are Bank owned 25%
That means 75% are not bank owned!
Bank Owned Homes 46 make up only 6% of the inventory available in Big Bear
That means 94% of the homes available in Big Bear are not Bank Owned!
261 of the 681 sold this year were bank owned 38%
77 of the 561 sold last year were bank owned 13.7%
What does all of this mean?
There are less homes to choose from currently than there were a year ago.
More homes have sold this year than last year for the same period.
With 154 pending sales and 681 closed sales this year, more homes will be sold in Big Bear this year than last year (669)
Big Bear does not have a high percentage of bank owned properties available, but what is available is selling faster than other homes sold by traditional sellers.
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As of this morning, we have 50 bank owned homes (REO's) on the market, that's only 5.48% of the 912 active listings. Please call or email if you want to purchase a bank owned home in Big Bear,
6 of these homes were traditional sellers "50%", with a price differential of 98.17% of list price and 190 days on the market
4 of these homes were bank owned "33.3%", with a price differential of 100.67% of list price and 32 days on the market
2 of these homes were short sales "16.6%", with a price differential of 101.47% of list price and 399 days on the market.
*As you can see, homes in the Big Bear area are still selling within 10% of the list price consistently. Buyers that want to purchase here will be disappointed if they expect to find homes selling for 25% or more off of list price. This also means that homes won't sell until the price gets close to market value. Overpriced homes (over 90% of the listings) will sit with no activity until they lower the price to meet the market.
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