With the first 6 months of the year behind us now, it’s time to take a look at how the first half of 2010 stacks up to the first half of 2009. The following sales figures are of single family residences as reported in the Big Bear MLS
Number of sales ~ 2009: 367 /2010: 399 ~ 8.7% increase
Average Price ~ 2009: $283,747 /2010: $243,731 ~ 14.1% decrease
Median Price ~ 2009: $220,000 /2010: $185,000 ~ 15.9% decrease
Avg Price per SF ~ 2009: $185 /2010: $170 ~ 8.1% decrease
Days on Market before selling ~ 2009: 131 / 2010: 122 ~ 6.9% decrease
Percent of sales price to list price ~ 2009: 95% /2010: 95%
Bank Owned Sales (as % of total sales) ~ 2009: 41.3%/ 2010: 42.2%
Short Sales (as % of total sales) ~ 2009: 8.2% /2010: 13.3%
As you can see, compared to the first half of last year, we’ve seen sales continue upward, although modestly. Prices have seen about a 15% decrease and a more slight 8% decrease in price per square foot.
The time that homes are listed for sale before actually selling and the amount that sellers negotiate down off their list price have stayed relatively unchanged.
Bank owned properties have stayed more or less constant, composing just over 40% of all sales. Short sales, however, seem to be increasing in market share.