Happy New Year – this week’s newsletter consists of the 2024 Year over Year Data.
We’ve put together some graphs for you to easily read and visualize what the Lake Havasu City market is doing… plus a few of our own thoughts.
Please feel free to contact us if you have any questions or comments about the data.
We are looking forward to helping you in 2025!
Call, text or email us anytime
Troy & Michelle Wixom
928.732.4866
PRICES
ALL HOMES (SFR, Condos, Manufactured)
2023 Average Sold Price = $532,943
2024 Average Sold Price = $577,710
Up 8.4%
Single Family Residential:
2023 Average Sold Price = $594,750
2024 Average Sold Price = $634,917 Up 6.8%
2024 saw an 8.4% increase in total average sold prices compared to 2023, reflecting strong buyer demand and solid appreciation.
SALES
Total sales declined 8.1% in 2024, with Single-Family Residential (SFR) sales down 6.1%.
Despite lower sales, rising home prices reflect steady demand and the impact of increasing costs across the market.
TOTAL SALES: (SFR, Condos, Manufactured)
2023 = 1,586 units
2024 = 1,459 units
Down 8.1%
Single Family Residential Sales:
2023 = 1,294 units
2024 = 1,215 units
Down 6.1%
DAYS ON MARKET
At the end of 2024, the average Days on Market (DOM) was 58days.
Year over year, DOM increased from 54 to 57 days (a 6% rise), with homes selling faster in spring and summer. Despite higher inventory, market conditions remain stable.
INVENTORY
Active listings rose 28.6% YoY, with December alone up 20.8% from 2023.
With more homes on the market, buyers have greater choice and leverage, creating a more balanced environment. Sellers will need competitivepricing and to present their home in topcondition to secure a timely sale.
First sale of 2025 is in the books!
We’re excited for our buyers as they get ready to move into their new vacation home in Lake Havasu. Grateful for the smooth escrow and looking forward to getting it all set up for summer rental season. More to come soon!
