Bass Lake Real Estate Update
With the recent downturn in real estate values, there has been a flood of news articles filled with statistics. These include figures for existing home sales, new home sales and condominiums released on a monthly basis either on a statewide or national basis. With all of this information, amid a background of overall economic uncertainty, it is difficult to get an accurate picture or see a trend developing for our area. While all markets are affected to some degree by national and statewide economic factors, we should realize that all real estate is “local” in nature.
With that in mind, we thought you would appreciate some current Bass Lake real estate sales facts.
Overall sales at Bass Lake this calendar year through September numbered 20 compared to 22 for the same period last year. The average sale price this year was $685,025 compared to $542,717 last year; however, this 26.2% increase was influenced in part by the sale of 4 higher priced lakefront homes sold this year compared to only 2 last year in the same period. Excluding Lakefront and Ridgeline homes, the average sale price so far this year was $538,808 compared to $491,354 for all of 2009, a 9.7% increase.
You may find the chart below interesting as it lists the number of annual residential sales and average sale prices for all areas of Bass Lake for the past 13 years. We have also added the sales through September of this year for your reference.
As you can see, clear price trends can be difficult to determine at Bass Lake, primarily since properties here have such a wide range of age, condition, size and amenities. Their location as well as the relatively few sales that occur in some years also influence values. Due to this variation, you are well advised to consult one of our experienced Realtors who can give you specific information that would apply to your own property.
Bass Lake Realty Celebrates 40 Year Anniversary!
Bass Lake Realty began in 1970 in a small rented office on Road 222 at the north end of the lake across from where the Ridgeline Subdivision is today. In 1974 we moved to The Pines Village and shared space in the lobby of The Pines Resort operating as a partnership with the Land Office. In 1995, needing more space, we moved down the street to the building formerly occupied by the “Automat Laundry.” Then, in 2007, we moved across the street to our present two-story location. For the past 40 years we have served the community in real estate sales, vacation rentals and property management.
We are proud to say Bass Lake Realty is the clear leader in Bass Lake real estate since we have led the market in the number of transactions at the Lake the last 5 years and lead all other offices so far this year with nearly a 60% market share, with 3 ½ times more transactions than the next office. So whatever your real estate needs, please give us a call. Our main office is conveniently located in the Pines Village with a second office at the Junction Plaza (corner of Highway 41 and Road 426) in Oakhurst. We have 10 full-time active agents between both offices to serve all your mountain area real estate needs. We are members of the Yosemite Gateway Association of Realtors® and M.L.S.
Bass Lake Home Tour
The 5th Annual Bass Lake Home Tour, hosted jointly by The Bass Lake Lions Club and Bass Lake Realty, was held Saturday, September 11th. Seven generous owners opened their homes for the public who enjoyed viewing their beautiful and unique properties. Through the dedicated and hard work of the Lion members and the Realty staff, the event raised $3,500.00 for the Yosemite High School Music Department. The event is held annually the second Saturday of September. If you are interested in participating in next year’s Home Tour, please contact Beth Carver in our Bass Lake Office.
Eastern Madera County Sales Statistics
The average sale price for single family homes in Eastern Madera County, including the communities of Oakhurst, Ahwahnee, Coarsegold, North Fork and Bass Lake, reached their peak in 2007 at $390,378. That year, however, there were only 354 transactions, a substantial decline from the average number of 582 transactions between 2000 and 2005.
Prices fell from that level to $245,595 in calendar year 2009, a 37% decline, with 370 transactions. For the first 9 months of 2010, there have been 262 single family home transactions at an average sale price of $242,848, very close to last year’s level for both pricing and number of transactions.
Information provided by Bass Lake Realty deemed reliable but not guaranteed. Copyright© 2010 Bass Lake Realty www.BassLakeRealty.com DRE# 01477156