Lake Havasu City, AZ – Real Estate Market Data – May 2015

Property Sales
May property sales were 171, up 15.5% from 148 in May of 2014 and 4.5% lower than the 179 sales last month. May 2015 sales were at a mid level compared to May of 2014 and 2013. May YTD sales of 784 are running 14.8% ahead of last year’s year-to-date sales of 683.

Prices
The Median Sales Price in May was $200,000, up 7.8% from $185,500 in May of 2014 and down 5.7% from $212,000 last month. The Average Sales Price in May was $231,082, up 5.1% from $219,860 in May of 2014 and down 1.7% from $234,962 last month. May 2015 ASP was at the highest level compared to May of 2014 and 2013.

Inventory & MSI
The Total Inventory of Properties available for sale as of May was 681, down 8.5% from 744 last month and down 45.7% from 1,253 in May of last year. May 2015 Inventory was at its lowest level compared with May of 2014 and 2013.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2015 MSI of 4.0 months was at its lowest level compared with May of 2014 and 2013.

Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for May was 81, down 6.9% from 87 days last month and down 18.2% from 99 days in May of last year. The May 2015 DOM was at a mid level compared with May of 2014 and 2013.

Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The May 2015 Selling Price per Square Foot of $141 was up 2.7% from $137 last month and up 5.6% from 134 in May of last year.

Selling Price vs Original List Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The May 2015 Selling Price vs Original List Price of 97.1% was down from 97.3% last month and up from 96.8% in May of last year.

Click here to access the full report – Market Action Report Lake Havasu City

To search for real estate in Lake Havasu City, go to www.AZmoves.com – Lake Havasu City

To search for real estate throughout Arizona, go to www.AZmoves.com

Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.

Advertisements

About azrelocation

Coldwell Banker Residential Brokerage provides comprehensive real estate and relocation services for Greater Phoenix, Greater Tucson, Prescott and Lake Havasu City. Our AZrelocation Blog will provide you with extensive market data -- both on the metro and city levels -- along with relocation trends, area highlights and other valuable information.
This entry was posted in Lake Havasu City, Market Data and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s