Q1 Market Report - Eagle Knolls
Eagle Knolls Market Trends
Every three months, I will post detailed quarterly market trend tables made from three year graphs, for the Total Big Bear Area and 10 Sub Areas. Using the tables and graphs I will report the trends of Market Prices, Sales vs Active Listings, and Expired Listings and summarize what they mean to the current and future Total Big Bear Area and 10 Sub Areas Real Estate Markets. This section is for the Eagle Knolls Area. The following analysis is a detailed but easy to understand examination of these market trends.
The following stats have 2 sections. Section 1 up to $800,000 property value and Section 2 $800,000 and up, the Luxury Market. This seems to be the most accurate price range to split the market. If you want to just get the short version of the market in the Eagle Knolls Area, you can skip to the bottom of Section 1 and Section 2 and read the Overall Summary.
Section 1 notes: the Castle Glen, Eagle Knolls and Eagle Point/Eagle Point Estates Areas are not included in section 1 stats due to the fact that there aren’t any sales under $800,000 in these areas.
Section 2 notes: the possibility of wide swings in monthly and quarterly market prices in the $800,000 and up Luxury Market.
Section 2 $800,000 and up (Luxury Market)
Because of the low amount of sales in the Eagle Knolls Area, there is statistically not enough turn over to give us accurate information on Market Prices, Sales (only 7 since January 2022) or Expired Listings. A better Market indicator would be the Total Big Bear Luxury Market Section 2. I posted the tables and graphs for you to look at if you want what little information is available to try and give you an idea of the Eagle Knolls Area. Remember that these are upscale custom homes where a view or furnishings can make a big difference in price. Each Cabin must be analyzed on it's on merit.
If you are thinking of selling a property in the Eagle Knolls Area contact me so I can use the Eagle Knolls Area information and the information from the other Big Bear Luxury Markets to give you a accurate price that your property would sell for on today’s market.
Market Prices
Total Big Bear Area $1,157,000
The sub areas ranked as follows:
Castle Glen Area $1,583,667
Snow Summit Area $1,200,000
Fox Farm Area $1,188,000
Big Bear Lake Area $1,109,000
Big Bear City $1,100,000
Lake Front Area $1,087,333
Moonridge $920,000
Eagle Point/Estates $875,000
Eagle Knoll $0
Fawnskin $0
Remember the possibility of wide swings in monthly and quarterly market prices in the $800,000 and up Luxury Market. See the first graph below “Historic Sales Price Trend $800,000+”.
If you want to know what your Eagle Knolls cabin is worth in this price range, contact me to get a more detailed market analysis that takes into consideration the number of Bedrooms, Bathrooms, Square Feet, Lot size, Condition, Views and location.
Sales vs Active Listings (supply and demand)
Sales vs Expired Listings (strength of sales)
$800,000 and up Luxury Market Overall Summary
For the Eagle Knolls Area the two big areas of market influence to watch are of course the economy and the number of listings that come on the market. A worse economy and or a large increase of listings without an increase in sales might put a lot of pressure on prices to fall even more. This will also cause cabins to be on the market longer, which will put additional pressure on prices. Until we see a change from interest rates or an increase in buyers starting to buy in the current economic conditions I would expect the number of listings to go up and sales to decline or stay about the same.