Lake Havasu home sales in the summer were as hot as the temperatures outside. We are now entering the slower time for Havasu home sales. This was reflected in the 3rd Quarter 2014 sales figures.
According to the Western Arizona REALTOR® Data Exchange (WARDEX)’s Residential Sales and Inventory History report, a total of 382 homes were sold in Lake Havasu City in the 3rd Quarter of 2014. That is an 8.2% increase over the same time last year. The average sale price for a Lake Havasu home continued its steady climb. The $213,911 average sale price was 5% higher than last year’s $203,578, marking the third year in a row that prices have increased. The average days a home stays on the market before going to contract has increased from 116 in 2013 to 141 in 2014.
Lake Havasu Home Sellers should be very happy to see that prices are continuing to increase. This means you are much more likely to sell for a higher price than you would have last year. Buyer confidence has been on the rise as well. Homes are selling for an average of 96.1% of the list price. For Lake Havasu Home Buyers, this means that Sellers are willing to negotiate. The slower selling season can often mean less competition for homes as well. Make sure you talk to your Lake Havasu REALTOR® to determine a fair price before you put in an offer on your Havasu dream home. Whether you are buying or selling, contact me today to get started.
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Originally posted on my Lake Havasu real estate blog here: http://havasuareahomes.com/real-estate-news/lake-havasu-market-reports/havasu-home-sales-3rd-quarter-2014.