Over the past 90 days, just over half of all homes sold in Running Springs closed between $300,000 and $400,000. That single price band accounted for 20 of the community’s 39 sales, clearly defining where the center of the local housing market currently sits.
That concentration of activity helps explain why Running Springs has quietly become one of the most competitive real estate markets in the San Bernardino Mountains. While Lake Arrowhead often draws attention for its lake rights properties and Crestline offers a larger inventory of homes, Running Springs continues to attract buyers looking for affordability and year-round living in the mountains.
As we go to press, Running Springs has 90 single-family homes listed for sale with prices ranging from $199,900 to $3,995,000. Five homes are currently active under contract and another 10 are pending. The median list price sits at $394,500 with 61 days on market, while the average list price is $491,156 with 102 days on market.
Looking back over the past 90 days, 39 homes have closed escrow with sale prices ranging from $120,000 to $593,000. The average sold price came in at $370,897 with 82 days on market and a 97 percent list-to-sale ratio. The median sold price was $355,999 with 64 days on market and a 98.1 percent list-to-sale ratio. In simple terms, sellers are receiving very close to their asking price, particularly in the most active price ranges.
When we compare supply to demand, Running Springs currently has about seven months of inventory based on the pace of sales over the past 90 days. That places the market close to balanced conditions, though well-priced homes in the $300,000 to $400,000 range are clearly moving the fastest.
Another interesting dynamic in Running Springs is the type of buyers choosing to live here. Migration data suggests a growing number of incoming residents are moving to the community full time rather than purchasing vacation homes. Running Springs also sits within the on-call radius for several major hospitals down the hill, and local employment data shows that the largest occupational category among residents is health care and social assistance.
Education and population data from Realtor Property Resource also provide insight into the community’s demographics. Approximately 38.37 percent of residents hold an associate’s degree, 25.23 percent have a bachelor’s degree, and another 12.16 percent hold graduate or professional degrees. The largest minor population group is elementary school age at 32.2 percent, which aligns with the presence of Charles Hoffman Elementary School. Close behind are toddlers at roughly 32 percent, suggesting the community may be seeing a shift toward a younger overall population.
While Running Springs may not have the same commercial amenities as some neighboring towns, its combination of affordability, accessibility to jobs down the hill and increasing full-time residency continues to drive steady demand.
Next week we’ll wrap up this market series with a closer look at the Lake Arrowhead communities outside Arrowhead Woods, including Twin Peaks, Arrowhead Villas and Cedar Glen, where the real estate trends tell yet another unique story.
Theresa Grant is a real estate broker and columnist covering Lake Arrowhead, Crestline, Running Springs, and the surrounding mountain communities. Reach her at (909) 442-1345 visit www.HomesInLakeArrowhead.com, and follow her on social media @TheresaGrantRealtor. Theresa is a Broker Associate with REAL Broker Technologies. DRE#01202881.
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