Lake Arrowhead Real Estate: Weekly Market Update (4/29/13 through 5/5/13)
As always, Greg does a great job with his Lake Arrowhead Real Estate market reports.
I know I am, and have been, seeing a big change in sales. People are looking and, more importantly, buying. Sellers are seeing their home values go up the first time in years. The largest problem we have right now is inventory, or lack of.
So, sellers, if you've been on the fence about putting your home on the market, jump out and give US a call! The time is right!
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!
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