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Big Bear Market Absorption Rate – 7.7 Months

sponge1The absorption rate for the Big Bear real estate market now stands at 7.7 months.

With 93 homes sales in November, and approximately 715 homes for sale in the area, the market is starting to come in line with a “normal” market, though it is still leaning in favor of buyers.

Why is this important?  Knowing the absorption rate will tell you what the real estate conditions are like in a particular price range and area. If you are selling your property, this can help when determining the demand in your area or price category, and in turn, your asking price.  When getting ready to buy, this will help you become more informed on what segments of the market are moving and provide you with some leverage.

Trying to sell a Big Bear home priced over $500,000 is proving to be very tough these days as few are selling compared to how many are on the market – 129 for sale and only 4 sales in November, a 32.2 month supply, which is definitely a buyer’s market!  Obviously, most of what is selling right now is under the $500,000 price point.

And by area, Fox Farm and Sugarloaf are moving the best right now while Big Bear Lake Central, Fawnskin, and Whispering Forest are the slowest moving areas.

Absorption Rate By Price Range

Price Range Residential Properties On The Market Residential Sales Last Month Absorption Rate – Months
$300,000 & below 432 64 6.75
$300,001 to $500,000 154 25 6.16
$500,001 to $800,000 63 3 21
$800,0001 to $1,000,000 18 1 18
$1,000,001 & above 48 0 n/a
Totals 715 93 7.7

Absorption Rates By Area

Area Residential Properties On The Market Residential Sales Last Month Absorption Rate – Months
Big Bear Lake West 31 4 7.75
Big Bear Lake Central 87 4 21.75
Big Bear Lake East 52 8 6.5
Fox Farm 56 10 5.6
Moonridge 141 19 7.4
Whispering Forest 16 1 16
Fawnskin 20 2 10
Big Bear City 152 23 6.6
Sugarloaf 78 15 5.2
Erwin Lake 48 6 8
Baldwin Lake 26 0 n/a
Lake Williams 7 1 7
Onyx 1 0 n/a
Totals 715 93 7.7

These numbers change from month to month so be sure to check back for more details or sign up for our RSS feed/email newsletter to stay updated.

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