Lake Havasu Real Estate Market Update as of 10/24/2012
Year over year market values in Lake Havasu City have been up for the last several months. This is outstanding news for the Lake Havasu Real Estate community as the big buying season (snowbird season as locals call it) is not yet in full swing. Many believe this could be the first winter in sometime where we see market values really start to climb. Only time will tell if this will be the case.
On the other hand, inventory has increased over the past 60 days however many price ranges are still very competitive as the buyers clamor for the hot deals. The sub $150K market is a prime example of this and remains very tight. The overall increase in inventory at this point appears to be the typical rise we see nearly every year in later summer and fall as Lake Havasu home sellers prepare their properties for sale in anticipation of the upcoming buying season. We also believe there is at least some pre-election buyer anxiety in the air slighly slowing sales prior to the Presidential election on November 6, 2012.
Lake Havasu Foreclosure Inventory is down drastically from the high water mark several years ago but the numbers have increased slightly as well again due to the seasonality of our market as well as pre-election jitters. Although foreclosures are not going away soon we do not expect to see a flood of additional foreclosures hit the market. With values now increasing, and barring no unexpected major crisis in the world, the bottom of the housing market appears to be behind us.
Current Lake Havasu Single Family Inventory: 803
Sold Lake Havasu Single Family September 2012: 89
Average Sales Price September 2012: $162,992
To search Bobby & Julie Lewis Team Lake Havasu Featured homes for sale please visit our websites. In addition to our Lake Havasu home listings for sale the entire Lake Havasu MLS can be searched without obligation as well.
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#1 Coldwell Banker Agents in Lake Havasu City