It’s been a long time coming. For the last 5 years, the number of homes to have sold in Big Bear has continually declined when compared to the previous year’s sales. But 2009 appears to be heading in a different direction.

Real Estate by the Numbers

Take a look at the following sales trends for Big Bear real estate:

‘04 – ‘05 – number of sales down 8%

‘05 to ‘06 – number of sales down 33%

‘06 to ‘07 – number of sales down 32%

‘07 to ‘08 – number of sales down 12%

But when you compare Big Bear real estate home sales so far this year to the same time period last year, sales are up 58%.

This is consistent with the way 2008 ended. The last four months of 2008, we saw sales increase by over 25% when compared to the same months in 2007. 

This is also consistent with the statewide real estate trends reported for the month of December. December 2008 saw an 84% increase in number of sales statewide when compared to December 2007.

Although sales have picked up, we’re still seeing property values decline. When you compare the average sale price of single family Big Bear homes so far in 2009 to the average sale price over that same time period last year, it shows a 26% decline in values.

It only stands to reason, unforeseen circumstances aside, that seeing the number of sales increase may be the first sign that the market is finally turning.

Bottom line, so far in 2009, sales up 58% and prices down 26%.

(If you have any questions or comments about this Big Bear Real Estate blog post, please contact me – blog@Zamoyta.com )