This week we want to talk about those who are considering selling…In the last few weeks prices have not seemed to move from their plateau…
As many of you are aware, in addition to real estate sales, we also manage properties. This past week we have had several clients approach us asking if now is a good time to sell their short term rental…And, depending on the type of property, it may be a good time.
Please read below about the landscape of the STR market for more insight and why this could impact the overall inventory levels here in Havasu…
If you have been considering selling, please reach out to us!
What is the landscape of the STR market in Havasu?
And how is this impacting inventory levels?
1,898 Active Short Term Rentals
Studio = 13 units
1 Bedroom = 163 units
2 Bedroom = 267 units
3 Bedroom = 1,004 units
4 Bedroom = 306 units
5+ Bedroom = 109 units
With so much 3 bedroom inventory being used as short-term rentals many owners have seen their revenues dip compared to prior years.
We are finding that unless you have something unique to offer, many of of the standard 3 bed / 2 bath properties are not attracting the bookings and many owners find themselves in a tough position…they are either contemplating converting to long term rentals or thinking of selling.
As a result, we see a lot of potential inventory sitting in these 1,000+ 3 bedroom that are not attracting bookings as frequently.
Havasu could use this inventory for residents and that is why we see opportunity to help connect buyers with sellers.
So, whether you own a STR or not, now might be a great time to list before additional inventory comes to market.
Please contact us today and let us know how we can help!
Thinking of Buying or Selling?
Please let us know if there is anything in the world we can do for you.
