Q2 Market Report - Eagle Point
Eagle Point Market Trends: $800,000 And Over Price Range
Usually I break up and area into 2 price groups. Under $800,000 and over $800,000. But in the Eagle Point Estates area there aren't many listings or sales under $800,000 any more. In the first half of 2020 we had 5 out of 14 sales under $800,000 but the way prices have gone up there won't be many Cabins priced under $800,000 again.
The Eagle Point Estates area is a unique area with only 92 cabins. Because of it's size and the price range of the Cabins in that area statistically there isn't enough turn over to give us accurate information. In 2020 there was 8 sales, in 2021 there were only 11 sales. And in the first two quarters of 2022 we have 6 sales. Which is not enough to give us good statistical data. Remember that these are upscale custom homes where a view or furnishings can make a big difference in price. Each Cabin has to be analyzed on it's on merit. To get an understand of the overall luxury market in Big Bear read, Big Bear Luxury Market Trends. I printed the graphs below if you want to see them. If you have a property that you feel should sell for over $800,000 contact me for a custom analysis on that property. Economic data for the second quarter and beyond is all pointing to a slow down in the market. Read my post about the slow down, Selling in Today’s New Market, Expect a lot of changes in the graphs for the third quarter and the rest of the year.
My opinion is that we are going to witness a more normal market. In order to get to that normal market prices may come down a little. Cabins will be on the market a little longer. Sales will decline.
