Big Bear was hit hard in the collapse, but things are doing much better now. The median home value is slightly over $300,000, having taken a fall from nearly $360,000 at its highest peak. Values have been rising and falling since the market normalized, but these deviations aren’t significant enough to inspire fear in area homeowners looking to make a sale.
The market is healthy in Big Bear, but it definitely favors buyers. More people are looking to move out than to move in. When interested buyers stroll through the neighborhood, they have the right to be choosy.
There are tons of potential homes for them to choose from, and the best properties are going to go first. Homes with damage or structural defects are likely to be overlooked, especially when a buyer can make a low offer on those hopes in an appeal to the homeowner’s desperation.
The market and values in the surrounding unincorporated areas, such as Angelus Oaks, are doing much better. Values there are higher than they’ve ever been, the market is healthy, and homes are selling. Some of this good fortune spills over into Big Bear, but not enough to count on. Buyers are more interested in the properties surrounding the area than the houses actually located in Big Bear.