VACATION SALES TREND UP; LAKE ARROWHEAD OVER USA
Real Estate Trends in Arrowhead Woods. 4/18/16 Issue 210
Lake Arrowhead has performed better than might be expected against the national averages. Vacation home sales in the USA has been on a rollercoaster since the 2006 recession when sale dropped 60% in two years, then began the tortuous road to recovery over the next six years, only to fall again in 2015. For the nation, we are dealing in hundreds of thousands of homes while Lake Arrowhead is in the hundreds of home sales. But the pattern is clear, Lake Arrowhead is stable, no panic, slow and steady through 2015.
Home prices in Lake Arrowhead are nearly twice the national average. Admittedly California is an expensive market. Talk of a new, national bubble are exaggerated yet testing credulity to have a 28% nationwide price increase in one year.
In the first 100 days of 2016, we’re delighted to learn that Lake Arrowhead is about 2% ahead of the same period a year ago in both sales and prices. Inventory is still down.
The inventory of homes for sale in Lake Arrowhead is well below historic norms as buyer demand is stronger than ever. We learned in high school about supply and demand; the best time to sell is when supply is low and demand is high. We are entering the busiest season of home buying with the lowest inventory in memory. For sellers, it is time to get on board.