February 2025 average sold price was $570,860, up 1.94% from January $560,010. This modest rise suggests that seller confidence remains high, while buyers are still willing to meet those asking prices—though there is a consistent gap between the two that indicates a bit of negotiation wiggle room.
Meanwhile, the sale-to-list price ratio held steady at 96.8%, whereas the sale-to-original list price ratio is 93.6%… this significant difference really highlights the impact of price adjustments.
Days on Market Rises
The average days on market (DOM) has ticked up to 78 days this February, up 25.8% from last months average of 62 days.
Despite this spike, we anticipate that if interest rates continue on a downward trend, prices may inevitably push higher as buyer demand strengthens.
Homes might be taking slightly longer to sell, but sellers remain confident, and well-priced listings are still attracting motivated buyers.
Market Outlook
Overall, Lake Havasu City’s residential market is showing healthy signs of stability. Price trends are inching upward, and while properties are spending slightly longer on the market, they are still selling at strong price points—an encouraging sign for both buyers and sellers as we head deeper into 2025.
Mortgage Applications UP 20.4%
Mortgage rates and applications made a strong comeback last week…
The average interest rate for 30-year fixed-rate mortgages (for loans up to $806,500) dropped to 6.63% today (Freddie Mac), while total mortgage applications surged by 20.4%…the first increase in three weeks and a notably large weekly jump.
If you have questions about the housing market, reach out to us. We can help you understand what’s going on and how to navigate it based on your goals.
This free event is open to the entire community—enjoy a day of cool cars, awesome bikes, and fun for all!
Grab a T-shirt, enter the 50/50 drawing, and cheer on the award winners. Best of all, every dollar raised supports the Faith & Grace women’s and children’s shelter.
