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Lake Arrowhead Real Estate: Weekly Market Update (4/29/13 through 5/5/13)

By
Real Estate Agent with Mountain Country Realty BRE#01228248

To be an informed seller or buyer of real estate in the Lake Arrowhead area, it is imperative to know what is happening in the current market.  There are many factors to determining the proper price when listing a home for sale.  There are just as many factors to help you decide whether you are getting good value for your dollar when you purchase a home.

 

For this report, we have broken the Lake Arrowhead communities down into three distinct segments:  Arrowhead Woods (the area in Lake Arrowhead with “lake rights”), lakefront properties and, lastly, the surrounding communities of Twin Peaks, Rim Forest, Crest Park, Crest Estates, Skyforest, Cedar Glen and Deer Lodge Park.

The graphs below show you the weekly breakdown of new listings, homes sold, active listings and homes currently in escrow.  We have further broken down this information to show you median prices and price ranges, average number of days on market and the percentages of list price to sales price.

 

 

ARROWHEAD WOODS

STATUS NUMBER PRICE RANGE MEDIAN
NEW 12  $219,900 - $564,000   $   337,500
ACTIVE 213  $160,000 - $2,800,000   $   445,000
PENDING 55  $117,600 - $1,275,000   $   334,900
SOLD 4  $275,000 - $385,000   $   285,000

 

I like what I'm seeing here!  Four properties sold during this time period in Arrowhead Woods and the average number of days on market was only 27 days!  AWESOME.  Not only that, but the average list-to-sale percentage for them was 99.5%.  REALLY awesome.  Twelve new listings ain't shabby, but we need more!

 

LAKE ARROWHEAD LAKEFRONTS

STATUS NUMBER  PRICE RANGE   MEDIAN 
NEW 1  N/A   $2,225,000
ACTIVE 35  $325,000 - $14,800,000   $2,150,000
PENDING 1  N/A   $2,688,000
SOLD 1  N/A   $   677,500

 

The one lakefront listing that sold this past week was only on the market for 14 days and the sale price was 94.89% of the list price.  One new offering hit the market at $2,225,000!

 

SURROUNDING COMMUNITIES

STATUS NUMBER  PRICE RANGE   MEDIAN 
NEW 7  $99,900 - $225,000   $   140,000
ACTIVE 59  $58,400 - $2,800,000   $   165,000
PENDING 22  $49,900 - $475,000   $   147,450
SOLD 1  N/A   $   125,000

Though there was only one sold listing reported in the last week, 3 of the 7 new listings are already in escrow!  That's good news.  It means that buyers are waiting in the wings for listings to hit the market.  It also means that you must be quick to act if you want to have a chance at a good listing, especially in the under $150K range.

 

To discuss your particular property and to get a more detailed idea of what your property is worth in our current market, including a free comparative market analysis, please cal us at 909.534.8183.  If you are looking to buy a home and are wondering what is a good deal right now, please contact us right away.  The good deals go quickly!

Kat DeLong
Realty ONE Group Mountain Desert - Prescott, AZ
REALTOR

Good job, Buddy! I'm re-blogging.

May 08, 2013 07:24 AM
Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Thanks!  Go for it.....

May 08, 2013 02:24 PM