As of March 2025, the Big Bear, California real estate market has undergone notable changes, reflecting broader trends in the housing sector. Recent data indicates shifts in home prices, inventory levels, and market competitiveness, offering valuable insights for buyers, sellers, and investors.
Market Overview
The median home price in Big Bear Lake is approximately $585,000, which represents a 0% change year-over-year. Meanwhile, the median home price in Big Bear City is around $446,000, marking a 19.9% increase year-over-year. The median price per square foot in Big Bear Lake is $416, a 2.7% decrease year-over-year, while in Big Bear City, it is $321, a 6.8% decrease year-over-year. These trends suggest that while overall home values in Big Bear City have risen significantly, price-per-square-foot metrics indicate a cooling market with more room for negotiation.
Market Competitiveness
Both Big Bear Lake and Big Bear City are currently characterized as buyer’s markets. In Big Bear Lake, homes typically sell about 4% below the list price and go pending in approximately 129 days. Multiple offers are rare, indicating reduced competition among buyers. Similarly, in Big Bear City, homes sell for about 3% below list price and go pending in around 104 days.
Inventory Insights
The housing inventory in Big Bear Lake has seen a notable increase, with 261 active listings in February 2025, a 7.4% rise from the previous month. This uptick in supply has contributed to homes remaining on the market longer, with an average of 82 days in February 2025, up from 78 days in February 2024.
In Big Bear City, there were 229 homes for sale as of January 31, 2025, with 33 new listings in that month. The median list price was $454,333, and homes typically went to pending status in around 71 days (source).
Pricing Trends by Property Size
In Big Bear Lake, the median sold prices by bedroom count for February 2025 were as follows:
- 1 Bedroom Homes: $400,000, an increase of 12.7% year-over-year.
- 2 Bedroom Homes: $440,000, a decrease of 7.4% year-over-year.
- 3 Bedroom Homes: $622,500, a decrease of 5.0% year-over-year.
- 4 Bedroom Homes: $828,200, a decrease of 12.8% year-over-year.
- 5+ Bedroom Homes: $1,300,000, a decrease of 10.0% year-over-year.
These figures indicate that smaller homes have experienced price increases, while larger properties have seen price declines over the past year (source).
Lending Rates
As of March 2025, mortgage rates remain relatively stable, with 30-year fixed-rate loans averaging around 6.75% and 15-year fixed-rate loans averaging approximately 6.10%. Adjustable-rate mortgages (ARMs) are available at rates starting at 6.25%. First-time homebuyers and investors should explore various lending options, including FHA, VA, and jumbo loan programs, to find the best fit for their financial situations. Additionally, local credit unions and banks may offer competitive rates and incentives for buyers in the Big Bear region.
Investment Opportunities
Big Bear presents several investment opportunities despite the market cooling. With declining home prices and increased inventory, investors looking for rental properties, vacation homes, or long-term appreciation stand to benefit.
- Short-Term Rentals: Big Bear remains a sought-after destination for vacationers. Investing in Airbnb or VRBO properties can provide lucrative returns, especially in peak tourist seasons. However, investors should stay updated on local regulations regarding short-term rentals.
- Long-Term Rentals: With growing demand from seasonal workers and full-time residents, long-term rental properties offer a steady income stream. Investors can capitalize on the region’s growing population of remote workers and those seeking year-round mountain living.
- Fix-and-Flip Opportunities: With increased inventory and longer listing times, distressed properties or homes needing renovations can be acquired at a discount, improved, and sold for a profit when market conditions stabilize.
- Commercial and Mixed-Use Properties: With a growing number of visitors and remote workers relocating to the area, commercial spaces and mixed-use properties in prime locations present opportunities for business development and investment.
Investors should conduct thorough market research, evaluate financing options, and consider local rental regulations before purchasing investment properties in Big Bear.
FAQs About Big Bear Real Estate
Is now a good time to buy a home in Big Bear?
Yes, with increased inventory and reduced competition, buyers have more negotiating power and can secure favorable deals.
How long are homes staying on the market in Big Bear?
On average, homes in Big Bear Lake are staying on the market for about 82 days, while homes in Big Bear City are going pending in around 71 days.
What are the current mortgage rates for buyers in Big Bear?
As of March 2025, the 30-year fixed mortgage rate averages 6.75%, while the 15-year fixed mortgage rate is around 6.10% (Source: BankRate).
Are short-term rentals still profitable in Big Bear?
Yes, according to available data; short-term rentals remain a strong investment, particularly near the lake and ski resorts. However, investors should stay updated on local regulations regarding vacation rentals.
What is the median home price in Big Bear City and Big Bear Lake?
In Big Bear City, the median home price is approximately $446,000, while in Big Bear Lake, it is around $585,000 (Source: REDFIN).
What should sellers expect in the current market?
Sellers should be prepared for longer listing times and may need to price their properties competitively to attract buyers. Proper home staging and strategic marketing can improve selling prospects.
Conclusion
The Big Bear real estate market in March 2025 presents a favorable environment for buyers, with increased inventory and reduced competition. While home prices have remained stable or decreased, the extended time on the market offers buyers more negotiating power. Sellers may need to price their properties competitively and be prepared for longer listing durations to attract potential buyers.
If you’re in the market, shop homes for sale in Big Bear CA on my listing page. If you find a home or property you’d like to learn more about, contact me for a private showing!
