Even through the COVID-19 craziness, our Havasu real estate market remains firmly in the seller’s favor. In fact, last month, the average sale price of real estate in Lake Havasu came in at its highest point ever. After weeks of stay-at-home orders, buyers came out in droves this summer. They want homes. Low inventory partnered with high buyer demand forces prices up. That’s great news for sellers. However, that doesn’t mean that you should expect to receive your list price just because you decided that’s what you want. You still need to list it appropriately or it will not sell…even in a seller’s market.
How to Decide on a List Price
Comps in Your Area
Talk to your Lake Havasu REALTOR® about running comps of real estate in Lake Havasu sold in your neighborhood over the last 30 to 60 days. A good agent will already be way ahead of you on this. They may even pull comps before they come to your listing appointment. Your agent compares apples to apples. This means looking at homes similar in square footage, lot size, amount of bedrooms and bathrooms, age, and amenities to your own property. Preferably, they’ll want to see the sale prices of those houses sold directly on your street. With how hot our Havasu real estate market is right now, anything after 60 days will be very outdated.
Current listings also provide helpful insight into where you should set the list price on your real estate in Lake Havasu. For example, your agent finds a listing very similar to yours with a high list price. But, it’s been sitting on the market for over 60 days. This tells you that you need to list it lower than that in order to bring buyers in.
You’ve probably heard the term “location, location, location” before. If you’re in a more desirable area, you could conceivably expect a higher sale price on your real estate in Lake Havasu. A four bedroom/two and a half bath fetches a higher sale price than a three bedroom/two bath…even when close in size. Some home improvements and repairs also bring up your home’s value and desirability. In turn, this translates to a higher list price.
Discuss all of this with your agent before you determine what a list price. Otherwise, you run the risk of letting your property sit on the Havasu real estate market for way too long. Contact me when you’re ready to sell.
Alexis Steel – 928-303-2199
Keller Williams Arizona Living Realty
Search homes at: www.TheHavasuHome.com