Sliding Inventory Slowing Lake Arrowhead Sales? Missing Out?
LOW INVENTORY IN ARROWHEAD WOODS, contributed to the 17% Summer sales drop. OCTOBER INVENTORY: 2016 = 322 HOMES FOR SALE. We need more listings to build sales. Looking back 20 years, Fall 2006 = 412 homes for sale, Fall 1996 = 486 for sale.
NATIONAL INVENTORY DOWN 10%, SLOWING GROWTH SINCE 2015
Arrowhead Woods inventory is not in step with demand. Going back 20 years, new construction added about 2000 homes to the 7800 we now have in Arrowhead Woods. In 1996 we had 486 homes for sales, 50% more than the 322 homes now for sale.
On the fence homeowners may miss the best time in decades. Sales in Arrowhead Woods are down 17% from last Summer. Inventory drops, prices rise. Since June 2016, the four Summer months had a median of $416,000 from 138 sales. Prices are up 8.9% over Summer 2015 that had a median of $382,000 from 167 sales.
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