Lake Powell Real Estate Market Updates

By
Real Estate Broker/Owner with Rankin Realty at Lake Powell, LLC

Interesting news from the Wall Street Journal today September New-Home Sales Jumped 2.7%, Prices Fell; Wall Street Journal

 

"As the median sales price for new homes slipped to its lowest level in four years, sales of single-family homes increased by 2.7% last month to a seasonally adjusted annual rate of 464,000, the Commerce Department said. Economists had forecast a September sales rate of 455,000. Sales in most regions of the country declined or remained virtually flat, while the West saw a 22.7% increase in new home sales."

Interesting indeed for the Lake Powell area housing industry. A market comparison for the six weeks that ended 10-24-08 shows:

  • The same number of single family lots on the market as last year
  • Home Prices fro stick built homes have increased an average of $10,000
  • Manufactured Home Prices in the Lake Powell area have declined by 21%

The Wall Street Journal article also talks about housing inventories which have hit a nationwide mark of 10 months supply on the market.

  • We have 42 stick built homes on the market currently, which is twice as many as last year.

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  • There are the exact same number of manufactured homes available as last year.

Bottom line, while the market has slowed down in Page a bit, it is still an excellent time to buy as our market has remained basically stable. With several new developments in the works: Indigo Ridge, Tuscany, Toroweap and Lake Powell View Estates now is an excellent time to buy in the Page Lake Powell area.

 


Search for Lake Powell area Homes and Properties



Page Arizona MLS for Lake Powell Real Estate

Big Water Utah MLS for Lake Powell Real Estate

For More Information Heather's E-mail Or Call 928-691-6444
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Rainmaker
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Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team

Heather good information.  I find that stick built prices actually increased extremely interesting!  It is also interesting that the number of Manufactured homes listed is the same as last year.  It is also telling that you enjoyed and increase!  I hope some of this good news filters west to us!

Oct 30, 2008 05:53 AM #1
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Heather Rankin
Rankin Realty at Lake Powell, LLC - Page, AZ
Lake Powell Real Estate

Tony and Darcy - I found the stick built prices interesting as well and that there are twice as many of them on the Market. Page has always been pretty isolated in a lot of ways, but Real Estate wise as well. People usually come here for a reason. I am going to draw up another report in a couple of weeks and see where we stand there. Good news on the Big Water side yesterday as well. One home went under contract and another may be going tomorrow. What a relief!!

Oct 31, 2008 11:58 AM #2
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Rainer
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Heather Rankin

Lake Powell Real Estate
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