Real estate experts agree that demand for homes is on the rise across the country, including right here in Lake Havasu City. My Lake Havasu home sales year in review for 2013 was just like our weather: sunny and hot. Unlike much of the Southwest region last year, Lake Havasu’s residential sales were all positive.
According to the Western Arizona REALTOR® Data Exchange (WARDEX), a total of 1516 Lake Havasu homes were sold in 2013. This is 12.13% higher than the 1352 homes sold in 2012 and the highest number on record in the last five years. Of those 1516 total home sales, 640 were financed through conventional loans, 639 were cash, 106 were through the FHA, 87 were VA loans, 29 were owner carry, 7 were 1031 Exchanges, two were a contract for deed and six were financed through other means.
The average sell price for a humble Havasu abode also saw its highest numbers in the last five years when it increased from $178,090 in 2012 to $198,022 in 2013…a net gain of 11.19%. The list-to-sell ratio (the difference between what a home was listed for and what it eventually sold for) remained exactly the same: 96.2% of the asking sales price.
The only area of the Lake Havasu real estate market that saw a decrease was the average days on market (122 in 2012 vs 117 in 2013). But, that’s a good thing.
What does this all mean? Lake Havasu buyer demand is on the upswing, which brings a little competition for homes on the market. More competition means higher prices. Even with the increase in price, the amount of affordable Lake Havasu homes on the market gives home buyers a variety to choose from.
For sellers, the higher prices, lower days on market and higher list-to-sell ratios are all good news for your pocketbook. When you’re ready to start looking around for your piece of Havasu heaven or you want to sell and move on, Just call Liz, your Lake Havasu real estate expert.
Last year was good, but 2014 could be great!
Featured Lake Havasu City Home
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