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Is There a Market Turnaround in Lake Havasu City?

By
Real Estate Agent with Keller Williams Arizona Living Realty

Lake Havasu's real estate market is looking at a turnaroundIt appears that the Lake Havasu real estate market is beginning to stabilize and may even be experiencing a turnaround.  Home sales have been up since January of this year.  They have leveled off in the last four months, but have remained consistent.  Lake Havasu listings are down 20% since September 2007.  This reduction in inventory means that more homes are selling.  Median home prices have also stayed consistently around or under $200,000 throughout 2008.  The median home price in September 2007 was $218,750.  This means that more people are able to afford to buy a home.  Even though home prices are lower, total sales are up by 64% from September 2007.  Typically, January is a high volume month for Lake Havasu home sales due to the increase of residents moving back to Lake Havasu for the winter.  Instead of renting a winter home, many people are looking to buy a winter home in Lake Havasu City.  What this boils down to is that now is definitely the time to purchase that home you've had your eye on.

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