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 Lake Havasu Association of REALTORS® recently released their June 2016 sales figures. A total of 177 Lake Havasu homes were sold in June 2016, a 2.3% increase from the same time last year. These statistics included both new construction and existing homes. The median sell price increased from $215,000 last year to $230,000 last month. Even so, the year-to-date totals have fallen behind last year's totals at this time.
It looks like investors like Lake Havasu real estate. Multi-family home sales increased substantially. Last year, only one multi-family property was sold in June. Last month, however, five of them sold. The median price increased from $190,000 last June to $195,000 last month. Total year-to-date sales have surpassed last year (24 at this time last year, 31 through June 2016). If you're interested in investing in a multi-family Havasu home, there are six active listings at this time.
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 31 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 median sell price fell from $57,500 in June 2015 to $52,000 in June 2016.
Lake Havasu Commercial Sales
Commercial sales in Havasu soared last month. Only 11 commercial properties sold in June 2015 at a median price of $375,000. Last month saw 40 properties sold to interested business people at a median price of $51,450. Year-to-date sales have almost doubled, with 63 properties sold so far this year compared to just 36 at this time last year. Do you have a business in need of a space? You have 75 active listings to choose from right now.
The June 2016 Lake Havasu City Market Report showed an increase in residential, multi-family and commercial sales. Vacant land sales decreased. Prices for single-family and multi-family properties increased slightly. 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
Visit any of my Lake Havasu real estate sites below for more information on the Havasu market:
Originally posted on my Lake Havasu real estate blog here: http://homesforsaleinhavasu.com/2016/07/june-2016-lake-havasu-city-market-report/.