Lake Arrowhead Market Update – April 2015

    While interest rates are still at historic lows and the market is strong, it is a good time to sell a home. Most people predict 2015 will be a solid year for sales, before we are in the 2016 election cycle, when the market is often slower due to all the negative campaigning and focus on the still slow economy. Some experts also predict a stock market correction sometime this year, which typically causes a decline in the real estate market.

    MarketUpdate

    All Homes

    Last 12 months, 67 home sales, average price of $212,642, 132 DOM

    Previous 12 months, 79 home sales, average price of $208,502, 174 DOM

    Lake Front Homes

    Last 12 months, 10 lake homes sold, average sale price of $394,600, 132 DOM

    Previous 12 months, 14 lake homes sold, average sales price of $414,217, 240 DOM

    Current Market Explained: Fewer sales, decline in price, shorter time on market.

    Non-Lake Front Homes

    Last 12 months, 57 homes not lake front sold, average sale price of $180,720, 138 DOM.

    Previous 12 months, 65 homes not lake front sold, average price of $164,182, 159 DOM.

    Current Market Explained: Fewer sales, increase in price, shorter time on market.

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    2 Responses to “Lake Arrowhead Market Update – April 2015”

    • dave logel

      Written on

      Can you identify new construction in all those stats? DoYou include press sold construction in your stats?

      Thnx.

      Reply
      • Brad Nix

        Written on

        We used MLS data for this report. New home construction that sells prior to being put in the MLS is not considered a market sale for appraisal purposes since it wasn’t available to a wider pool of buyers. Those new home pre-sales typically are only used as comparable sales in appraisals for other similar new home pre-sales. Therefore, we did not include those in our report. Hope this helps explain the data better.

        Reply

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