» 2009 » March
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Nationally home sales were up
It’s time!!! Nationally home sales were up over 5% last month over the previous month and home prices were down over 17% from 1 year ago. Housing prices and very low interest rates have helped many people decide to go ahead and buy a new home, 2nd home or investment property. If we have a few more months like this, the good deals will be all but gone.
Keep in mind that rates are around 5.00% for a 30 year fixed and in some areas home prices are as much as 70% less than where they were at the peak of the market.
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Monthly Statistics Lake Havasu February 2009Written by Comments Off
Last Updated: March 16, 2009
Monthly Statistics Lake Havasu Association of REALTORS Report
02/01/2009 - 02/28/2009
02/01/2008 - 02/28/2008
Change from 02/01/2008 - 02/28/2008 to 02/01/2009 - 02/28/2009
Residential
New Listings
202
273
-26.01%
Sold Listings
104
91
14.29%
Volume - Sold Listings
$18,382,795
$26,716,105
-31.19%
Average Sale Price
$176,758
$293,584
-39.79%
High Sale Price
$499,000
$1,150,000
-56.61%
Low Sale Price
$30,000
$88,500
-66.10%
Average Days on Market
144
173
-16.76%
Vacant Land
New Listings
71
65
9.23%
Sold Listings
7
11
-36.36%
Volume - Sold Listings
$782,500
$2,926,086
-73.26%
Average Sale Price
$111,786
$266,008
-57.98%
High Sale Price
$240,000
$544,870
-55.95%
Low Sale Price
$39,900
$39,900
0.00%
Average Days on Market
371
282
31.56%
Commercial
New Listings
37
24
54.17%
Sold Listings
4
2
100.00%
Volume - Sold Listings
$133,460
$61,900
115.61%
Average Sale Price
$33,365
$30,950
7.80%
High Sale Price
$80,000
$32,000
150.00%
Low Sale Price
$4,800
$29,900
-83.95%
Average Days on Market
38
237
-83.97%
Multi-Family
New Listings
21
12
75.00%
Sold Listings
0
2
-100.00%
Volume - Sold Listings
$0
$375,900
-100.00%
Average Sale Price
$0
$187,950
-100.00%
High Sale Price
$0
$210,000
-100.00%
Low Sale Price
$0
$165,900
-100.00%
Average Days on Market
0
46
-100.00%
Rental
New Listings
1
0
N/A
Sold Listings
0
0
N/A
Volume - Sold Listings
$0
$0
N/A
Average Sale Price
$0
$0
N/A
High Sale Price
$0
$0
N/A
Low Sale Price
$0
$0
N/A
Average Days on Market
0
0
N/A
Total
New Listings
332
374
-11.23%
Sold Listings
115
106
8.49%
Volume - Sold Listings
$19,298,755
$30,079,991
-35.84%
Average Sale Price
$167,815
$283,774
-40.86%
High Sale Price
$499,000
$1,150,000
-56.61%
Low Sale Price
$4,800
$29,900
-83.95%
Average Days on Market
154
183
-15.85%
ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED
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THE LAKE HAVASU REAL ESTATE MARKET IS WARMING UP!
THE LAKE HAVASU REAL ESTATE MARKET IS WARMING UP!
It seems like “Old Times”. The past few weeks have seen a huge increase in the number of Buyers shopping for Real Estate in Lake Havasu City. Agents are busy showing property and writing offers. Last week, all but one of the offers I wrote for my buyers were on properties with multiple offers. That tells me that there are a lot of buyers interested in taking advantage of this market.
The highest demand in the Lake Havasu Real Estate market is for REO—Foreclosed—properties. Many are selling for more than the asking price, some for as much as 20% higher than asking price.
If you have been waiting for the Lake Havasu Real Estate market to Bottom Out, I think we might be at that point. With this amount of demand, prices should stop declining and start pushing up.
If you have been thinking about buying real estate in Lake Havasu City, now is the time to act!
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