» 2009 » February
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EXISTING HOME SALES JUMP
Do it NOW!!!
Existing home sales unexpectedly jumped recently because rates are low and many people believe that housing prices are unlikely to go much lower. In addition, inventories of existing homes are lower than expected, down 11.7% nationally in December, 2008, in many areas. This trend will slow or stop the decline in home values.
This is the time to find the home you’ve been thinking about and buy it before it is sold to someone else.
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STIMULUS PACKAGE
The latest stimulus package as been signed into law. What does that mean to you?? That remains to be seen. Believe it or not, there is yet another bill in congress that is designed to get mortgage rates down to around 4%. If that happens, every lender will be so swamped with new loans that the only way they will be able to control volume is to raise rates back up to the 5% range. Considering this, rates probably won’t get that low, or at least, rates won’t stay in the low 4% range for long.
The safe bet would be to act now on a purchase or refinance because rates are already around 5%. Don’t rely on Uncle Sam to make an investment more profitable for you as this almost never happens.
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MONTHLY STATISTICS JANUARY 2009
Monthly Statistics Report
01/01/2009 - 01/31/2009
Lake Havasu Association of REALTORS
Compiled on February 20, 2009
01/01/2009 - 01/31/2009
Change from 12/01/2008 - 12/31/2008
01/01/2008 - 01/31/2008
Change from 01/01/2008 - 01/31/2008 to 01/01/2009 - 01/31/2009
Residential
New Listings
205
0.99%
366
-43.99%
Sold Listings
88
-9.28%
63
39.68%
Volume - Sold Listings
$17,176,406
-15.17%
$17,788,683
-3.44%
Average Sale Price
$195,186
-6.50%
$282,360
-30.87%
High Sale Price
$950,000
30.14%
$800,000
18.75%
Low Sale Price
$1,750
-96.11%
$120,000
-98.54%
Average Days on Market
148
-0.67%
152
-2.63%
Vacant Land
New Listings
47
30.56%
131
-64.12%
Sold Listings
6
0.00%
7
-14.29%
Volume - Sold Listings
$536,500
71.68%
$1,710,500
-68.63%
Average Sale Price
$89,417
71.68%
$244,357
-63.41%
High Sale Price
$127,000
27.00%
$450,000
-71.78%
Low Sale Price
$30,000
33.33%
$90,000
-66.67%
Average Days on Market
115
-23.33%
225
-48.89%
Commercial
New Listings
28
64.71%
35
-20.00%
Sold Listings
2
N/A
2
0.00%
Volume - Sold Listings
$525,000
N/A
$280,000
87.50%
Average Sale Price
$262,500
N/A
$140,000
87.50%
High Sale Price
$380,000
N/A
$180,000
111.11%
Low Sale Price
$145,000
N/A
$100,000
45.00%
Average Days on Market
249
N/A
193
29.02%
Multi-Family
New Listings
11
-31.25%
18
-38.89%
Sold Listings
1
0.00%
2
-50.00%
Volume - Sold Listings
$219,900
-13.76%
$502,000
-56.20%
Average Sale Price
$219,900
-13.76%
$251,000
-12.39%
High Sale Price
$219,900
-13.76%
$300,000
-26.70%
Low Sale Price
$219,900
-13.76%
$202,000
8.86%
Average Days on Market
79
N/A
85
-7.06%
Rental
New Listings
7
-36.36%
0
N/A
Sold Listings
0
N/A
0
N/A
Volume - Sold Listings
$0
N/A
$0
N/A
Average Sale Price
$0
N/A
$0
N/A
High Sale Price
$0
N/A
$0
N/A
Low Sale Price
$0
N/A
$0
N/A
Average Days on Market
0
N/A
0
N/A
Total
New Listings
298
5.30%
550
-45.82%
Sold Listings
97
-6.73%
74
31.08%
Volume - Sold Listings
$18,457,806
-11.33%
$20,281,183
-8.99%
Average Sale Price
$190,287
-4.93%
$274,070
-30.57%
High Sale Price
$950,000
30.14%
$800,000
18.75%
Low Sale Price
$1,750
-92.22%
$90,000
-98.06%
Average Days on Market
148
0.00%
158
-6.33%
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