Hot weather, hot sales. That seems to be the way it goes here in our Havasu community. Residential, commercial and multi-family sales saw an increase from last year. Let me break down these numbers for you in my June 2016 Lake Havasu City Market Report.
June 2016 Lake Havasu City Market Report
The Western Arizona Regional MLS recently released their June 2016 sales figures. A total of 210 Lake Havasu homes were sold in June 2016, a 7.7% increase from the same time last year. These statistics included both new construction and existing single-family homes, condos, town homes and manufactured homes. Total year-to-date sales have fallen slightly behind last year’s totals at this time (from 1156 to 1123). The average sale price decreased from $247,846,000 last year to $237,742 last month.
It looks like investors like Lake Havasu real estate. Multi-family home sales increased substantially. Last year, only two multi-family properties were sold in June. Last month, however, seven of them sold. The average sale price decreased from $164,500 last June to $156,079 last month. Total year-to-date sales have surpassed last year (37 at this time last year, 49 through June 2016).
Lake Havasu Vacant Lot Sales
Sales of vacant land tapered off in June 2016. In June 2015, Buyers purchased 47 vacant properties. However, last month, only 33 vacant lots were sold. The tally of year-to-date sales for vacant properties currently comes in at 13.8% less than last year. On the other hand, Buyers also paid 9.6% less for a vacant lot. The average sale price fell from $73,674 in June 2015 to $53,796 in June 2016.
Lake Havasu Commercial Sales
Commercial sales in Havasu soared last month. Only 11 commercial properties sold in June 2015 at an average price of $489,268. Nine of these properties sold for over $100,000, with the largest property (a 4-unit professional office) selling for a whopping $1,373,000. Last month saw 41 properties sold to interested business people at an average price of $29,988. Year-to-date sales have almost doubled, with 69 properties sold so far this year compared to just 38 at this time last year.
The June 2016 Lake Havasu City Market Report showed an increase in residential, multi-family and commercial sales. Vacant land sales, on the other hand, decreased. Prices are down across the board. If you’re interested in purchasing Havasu real estate, contact me. I’d be happy to help you find your next home, investment property or business site.
Featured Lake Havasu City Home
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