Lake Havasu Housing Stats for September 2008

The latest statistics for the Lake Havasu real estate market show that single-family home sales in Lake Havasu were up 27% in September from September 2007 (87 single-family homes sold in September 2008 vs 59 in September 2007).  However, year-to-date numbers for September 2008 were down 9% from the same time last year (869 year-to-date in 2008 vs 952 year-to-date in 2007).  The average sales price has gone down from $262,663 in September 2007 to $240,509 in September 2008.  Vacant land sales were down from 6 in September 2007 to 4 in September 2008, but the total dollars in sales has gone up ($654,000 in September 2007 to $1,976,120), resulting from an increase in average sale price of $494,030 (vs $109,000 in September 2007).  Year-to-date average sales price figures for vacant land in 2007 and 2008 show that prices are on the decline ($210,818 in 2007 vs $177,002 in 2008).  Multi-family home sales are down as well, but the average sales price has gone up slightly ($313,317 in September 2007 vs $316,667 in September 2008).  There is plenty of inventory available for buyers looking to invest in Lake Havasu real estate.  With historically low interest rates and lower single-family home and vacant land prices, now is definitely the time to buy.