Q3 Market Report - Eagle Point

Eagle Point Market Trends: $800,000 And Over Price Range

The following stats are for the Eagle Point Area. I have divided the Total Big Bear Area into 10 Sub Areas to give you more detailed information on the area where your property is located. Like most of Big Bear, I have broken up the Eagle Point Market into two segments Up to $800,000 property value and the Luxury Market over $800,000. This seems to be the most accurate price range to split the market. Every three months, I will post detailed quarterly market trend tables and graphs for each price range with a condensed but easy to understand examinations of the market stats. If you want to just get the short version you can skip to the bottom and read the Summary.

Market Prices

Table 1 (below) was created from the three year average price annual graphs for the Total Big Bear Area and the 10 sub areas from October 2020 to September 2022. Graph 1 below covers the Eagle Point Area. I will be using this table to analyze what is happening to the Real Estate prices in the $800,000 and up Luxury Market in the Eagle Point Area. The table and graphs have the parameters of: Price Range $800,000 and over, from October 2020 to September of 2022. Because of the volatility of the monthly numbers, which can have a difference of $400,000 or more each month, I will be using the annual averages for the $800,000 and up Luxury market to analyze how prices are changing in this price range in the Eagle Point Area. I have also printed the monthly graph for Eagle Point (Graph 2) if you want to look at it. The Eagle Point Area 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. But I will use the graphs to try and give us an idea of the Eagle Point Area. 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.

In the Eagle Point area, so far in 2022 this area has continued with the price increase that it has been enjoying the last 3 years. What started out with an average price in 2020, of $1,035,000 brought us to $1,073,000 through the first three quarters of 2022. For an increase of $38,000. This gives Eagle Point a $221,000 decrease over the Total Big Bear Area. Which gives it a ranking of 9 out of 10 areas in average price for 2022 so far. So overall you can see that the prices in the Luxury Market for Eagle Point have had a increase the last few years, but is not doing as well as Total Big Bear Area and most of the sub areas overall. To see how the prices in the other sub areas have done for comparison please refer to Table 1 below or check out the write up on that area.

If you want to know what your Big Bear 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 and Views or location.

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Sales vs Active Listings (supply and demand)

Table 2 shows what residential real estate inventory changes (Sales vs Active listings) have occurred for the Eagle Knolls Area on a monthly basis. These stats are compiled from Graph 3 using a parameter of: Price Range of $800,000 and over from the 2-year period October 2020 to September of 2022.

You can see from the last 2 columns that sales and listings are the same this quarter compared to last quarte and the third quarter of 2021. This shows us that economic influences of higher rates and inflation haven’t affecter sales or listings yet in this area. Given the current economic conditions I would expect the number of listings to go up and sales to decline. This will also put pressure on prices to go down. Which is what you would expect in a declining market. So overall this market is still in good condition.

Graph

Summary