Inventory Shortage Driving Up Prices

Prices Tried To Stabilize In 0-$800,000 Market, But Historic Lack Of Listings Are Driving Prices To Another Up Swing.

In the 0-$800,000 market in Big Bear the first 3 quarters had price increases slowing down, and looking like prices were starting to stabilize and take a break. But the lack of listings got so low in the fourth quarter that market forces took over and prices started going up at a much stronger pace than the first three quarters. How low was the listing inventory? In December 2019 we had 464 listings, in December of 2020 we had 230 listings, in December of 2021 we had 91 listings. The lack of listings had the market act more like we saw in 2020. Let’s take a look at a few examples of the price increases.
Overall in the Big Bear area the average price stayed around $450,000. Then in November we hit $485K and December $519K.

The Lake Front area stayed around $530,000 through three quarters and then jumped $70,000 in the fourth quarter.

Fox Farm area which usually has the highest average in this price range had a steady gain from $560K to $650k because of high demand and lack of listings all year.

Fawnskin area had a $100,000 gain with most of that coming in the second half of the year.

Moonridge was a surprise with prices increasing only about $40,000 for the year.

You can click on the links for different areas and get my write up of that area and supporting graphs.

In the next newsletter I will go over the $800,000+ market.

As you can imagine if you are thinking about selling your cabin now is the best time to put your cabin on the market. Feel free to contact me for a market analysis on your cabin to see what your cabin is worth in today’s market, you may be very surprised.