Real estate across the country has taken a hard hit over the last few years. Lake Havasu real estate is no exception. Real estate experts believe the sheepish market is about to get woken up…big time. This year, Lake Havasu real estate is looking good!
Active Rain recently conducted a poll of real estate agents and found that 84% believe real estate values and transactions will increase in 2013. Approximately 77% believe that the demand for homes will spur on an increase in new construction. One of the areas they believe will see a dramatic increase in home values is the Southwest.
Lake Havasu home sales are already seeing an improvement. January and February homes sales for this year closed at 107 and 144 for the month. That’s an increase of 3.9% and 14.3%, respectively, from the same time last year. The total dollar amount of homes sold in February 2013 was 26.9% higher than February 2012 ($28,613,334 vs $22,548,181).
Data provided by ActiveRain, the #1 social community for real estate professionals.
The median list price has also increased by 17.9% ($148,400 in February 2012 vs $175,950 in February 2013). The median sell price is up as well. Lake Havasu homes sold for an average of $144,600 in February 2012. But they ended up selling for $171,500 in February 2013. That’s just 2.5% less than the average list price.
Experts agree! The real estate market is going to see a marked improvement in 2013. Lake Havasu real estate is definitely looking good. For buyers, this means you may experience some serious competition. For sellers, it’s an optimum time to put your home on the market. When you’re ready to dip your toe in the Lake Havasu market, just give me a call!
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