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Resort markets booming
Resort communities are seeing unprecedented buying activity and price increases, and their markets have been outperforming the rest of California so far this year. On a year-to-date basis through October, sales increased 100.7 percent in Big Bear, 47.8 percent in South Lake Tahoe, 47.3 percent in Lake Arrowhead, and 17.7 percent in Mammoth Lake.
Home prices in resort communities have also been growing faster than the rest of California. In October, Mammoth Lakes’ median price increased from last year by 36.9 percent, followed by Lake Arrowhead (33.8%), South Lake Tahoe (29.0%), and Big Bear (26.1%).
Resort market sales (ytd % chg.)
120% 100% 80% 60% 40% 20% 0%
40%
30% 26.1% 20%
10%
0%
100.7%
47.3%
47.8% 17.7%
Big Bear
Lake Mammoth Arrowhead Lakes
South Lake Tahoe
Resort market median price (yty% chg.)
33.8% 36.9%
29.0%
Big Bear
Lake Mammoth Arrowhead Lakes
South Lake Tahoe
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Year-to-Year % Chg. (Oct)
Year-to-date. % chg. in sales (Jan – Oct)