200 Year Mortgage Rate History
Thank you to Martha Moriarty-McKinley for providing these charts. If you are looking for a local lender to make a purchase, or refinance here in Big Bear Martha does a great job.
92315 DemographicsPopulationPopulation 5,362 Ages:0-18 22% 18-64 59% 65+19% Education AttainmentHigh School 25%
Some College 37% Bachelors 15% Graduate or Professional 7% |
IncomeMedian Household Income $34,537 Work / CommutingWorking 44 % |
The Big Bear Multiple Listing Service recorded 863 sales in 2011. Below is a breakdown showing chart showing how many units each price range contributed.
With 794 (92%) of the homes sold falling into the under $500,000 price range, and only 69 over $500,000 (8%), it is fair to say higher end sales are tough. The price range that is selling best is $100,000 – $200,000 with about 40% of the homes sold.
Sales of homes over 1 million are location driven. Of the 12 sales over $1 million in 2011, and 8 were on the lake, 3 in Castle Glen, and 1 in Moonridge.
Only one home in Big Bear City sold for over $560,000 last year, and that was 646 Cedar Glen in Meadowbrook Estates which closed at $900,000 in June.
Foreclosures made up 28% of the sales, while short sales were only 14%. Traditional residential sellers made up the remaining 58%.
312 (36%) of all of the sales were cash transactions.
We have seen a change in the past 2 years when looking at our deed recordings. Traditionally the highest number of recordings occur during the late summer and early fall months, but in the past 2 years the month of December has had the highest number of recordings.
We also have the lowest inventory of residential homes (569 units as of this morning) that we have had in over 5 years.
Currently in the Big Bear area we have 112 pending sales (escrows) and 39 active contingent short sales that are awaiting bank approval.
I believe prices will continue to soften for the next 12 months, but at a slower rate than what we have seen in the past 3 years.
Area Activity & Short Sale Report December 2012
Market @ A Glance
| California | Reporting Period | Current | Last | Year | Change from Last Period | Change from Year Ago |
| Period | Period | Ago | ||||
| Existing Home Sales (SAAR) * | 11-Nov | 503,570 | 493,140 | 492,040 | 2.10% | 2.30% |
| Median Home Price * | 11-Nov | $280,960 | $278,060 | $296,480 | 1.00% | -5.20% |
| Unsold Inventory Index (months) * | 11-Nov | 5 | 5.3 | 6.2 | -5.70% | -19.40% |
| Median Time on Market (days) * | 11-Nov | 56.6 | 55.2 | 54.8 | 2.50% | 3.30% |
| Traditional Housing Affordability Index (HAI) * | 2011 Q3 | 52% | 51% | 46% | 1.00% | 6.00% |
| 30-year fixed-rate mortgage (FRM) ** | 11-Nov | 3.99% | 4.07% | 4.30% | -0.08% | -0.31% |
Source * CALIFORNIA ASSOCIATION OF REALTORS* and Federal Home Loan Mortgage Corp
Calif. median home price: October 2011: $278,060 (Source: C.A.R.)
Calif. highest median home price by region/county October
Calif. lowest median home price by region/county October 2011:
Calif. Pending Home Sales Index: October 2011: 122., an increase of 3.1 percent compared with a prior year.
Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)
Mortgage rates: Week ending 11/23/2011 30-yr. fixed: 3.98% fees/points: 0.7% 15-yr. fixed: 3.30 fees/points: 0.7% 1-yr. adjustable: 2.79% Fees/points: 0.6% (Source: Freddie Mac)
These are the statistics for the 16 homes sold in the past 30 days in Moonridge area of Big Bear.
The price differential of 95.24% tells us that homes that are priced well get offers within 5% of the asking price. With a median price sold of $196,000, Moonridge is quite affordable for most buyers in this market.
Please give me a call if you would like more information on the Moonridge Area, or any Big Bear Real Estate.
Steve Hirschler
909 725-5889