Big Bear City Real Estate Market Report
Hello there, Buyers and Sellers! Let’s dive into the exciting world of real estate metrics and see how they all tie together.
First up, we have the Months Supply of Inventory, which currently stands at 7.29. This number tells us how many months it would take to sell all the current listings on the market if no new listings were added. A lower number typically indicates a seller’s market, while a higher number suggests a buyer’s market.
Next, we have the 12-Month Change in Months of Inventory, which has seen a significant increase of +44.07%. This jump indicates that the market may be shifting towards a more balanced or even buyer-friendly market, giving buyers more options to choose from.
The Median Days Homes are On the Market is a mere 17 days, indicating that properties are selling relatively quickly in this market. This can be great news for sellers looking to move their properties fast.
When it comes to the List to Sold Price Percentage, we’re seeing a strong 98.3%. This means that, on average, homes are selling for 98.3% of their listing price. This is a positive sign for sellers, as it shows that properties are generally selling close to their asking price.
And finally, the Median Sold Price in this market is $412,000. This number gives us a good baseline for understanding the overall pricing trends in the area.
So, what does all this data mean for you as a Buyer or Seller? Well, with a relatively low Months Supply of Inventory and homes selling quickly at a high percentage of their list price, it’s a good time for sellers to list their properties. Buyers may have more options to choose from due to the increase in inventory, so now could be a great time to find that dream home.
Overall, these metrics paint a picture of a dynamic and active real estate market. Whether you’re looking to buy or sell, it’s always a good idea to stay informed and work with a knowledgeable real estate professional to help guide you through the process. Happy house hunting!
