Bullhead City Real Estate Report – May, 2014

by Evan Fuchs on June 20, 2014

Bullhead City and Fort Mohave real estate update. Homes for sale and statistics from Western Arizona REALTOR Data Exchange.

Bullhead City homes sales hit 8 year high

May home sales jumped 25 percent from April and 3 percent year-over-year, making it the highest-selling month in eight years.

One stat that sticks out this month is the number of manufactured home sales, which accounted for a larger share of the Bullhead City residential resale market than site-built homes. That doesn’t happen very often.

Manufactured home sales are impacted greatly by their price in relation to site-built homes. When the price gap between the two gets small enough, buyers tend to jump the gap. “I can spend a little more and get a stick built house.” We saw this after the market crash, when prices got pushed way down by excessive inventory and foreclosures.

Conversely, when the gap gets too big, fewer home buyers make the jump. With site-built home prices moving up the last several years, that gap has grown to $105,000 median price difference.

With more financing options emerging for manufactured homes and the price gap between manufactured homes and site-built homes growing, fewer people are making the jump. That creates opportunity for sellers looking to sell their manufactured homes. It also creates opportunity for site-built home buyers as some demand (competing buyers) has shifted to manufactured homes.

The Stats:

Bullhead City Single Family Homes
May-2014 Apr-2014 May-2013
Units Sold 49 39 54
Dollar Volume $9,182,587 $7,971,715 $9,397,100
Median Price $136,000 $152,000 $136,000
Price per Sq Ft $95.04 $98.99 $94.33

 

Bullhead City Manufactured Homes
May-2013 Apr-2014 May-2013
Units Sold 54 34 38
Dollar Volume $2,501,740 $1,779,250 $2,460,240
Median Price $43,500 $47,750 $45,000
Price per Sq Ft $42.29 $51.29 $53.72

 

Bullhead City Condos
May-2013 Apr-2014 May-2013
Units Sold 7 10 15
Dollar Volume $453,500 $861,900 $2,094,900
Median Price $55,500 $82,000 $122,000
Price per Sq Ft $68.90 $76.07 $102.85

 

Bullhead City Residential Sales Year-to-Date
2014 2013 2012
Units Sold 400 417 408
Dollar Volume $49,023,057 $48,485,081 $41,844,750


Fort Mohave

Fort Mohave Single Family Homes
May-2014 Apr-2014 May-2013
Units Sold 23 25 28
Dollar Volume $3,411,410 $4,403,419 $4,201,460
Median Price $137,000 $155,119 $140,000
Price per Sq Ft $89.28 $100.03 $86.16

 

Fort Mohave Manufactured Homes
Feb-2014 Apr-2014 May-2013
Units Sold 15 14 10
Dollar Volume $889,350 $826,900 $571,150
Median Price $51,950 $53,000 $58,200
Price per Sq Ft $46.30 $43.99 $41.94

 

Fort Mohave Residential Sales Year-to-Date
2014 2013 2012
Units Sold 165 144 164
Dollar Volume $20,373,563 $17,678,103 $17,395,548

Source: Western Arizona REALTOR® Data Exchange

Like to keep up on local market stats and trends? Check back for Bullhead City real estate market reports and observations. Or run your own Search for Homes in the Bullhead City area 24/7. Of course I’m happy to do the searching for you. Just shout
.

{ Leave a Comment }

Scenes from the Farmer’s Market

by Evan Fuchs on March 20, 2013

Bullhead Farmer's Market

Bullhead Farmer’s Market kicks off

The Bullhead Farmer’s Market returned this past Saturday, bigger and badder than ever.

A modest number of vendors sold a range of goods – from farm fresh produce and eggs, to homemade bread and salsa. Even handmade soaps.

As I’ve said before, I like the social/community aspect of a farmer’s market. I bumped into a bunch of locals and met a few more standing in line to buy gigantic strawberries. And waiting in line was no problem thanks to the lineup of live music booked by market manager Gabi Tolman.

The Farmer’s Market is held at Ken Fovargue Park on the 3rd Saturday of each month from 7am – 12 noon.

Hope to see you next time. In the meanwhile, here are a few pics from the first run:

Bullhead Farmer's MarketBullhead Farmer's MarketBullhead Farmer's MarketBullhead Farmer's MarketBullhead Farmer's MarketBullhead Farmer's Market
Bullhead Farmer's Market

{ 1 Comment }

Bullhead City Real Estate Report – February, 2013

by Evan Fuchs on March 19, 2013

Bullhead City and Fort Mohave real estate update. Homes for sale and statistics from Western Arizona REALTOR Data Exchange.

The median sale price of Bullhead City single family homes was $139,900 in February, up 45 percent from the same period last year and 8 percent from a month ago.

Year-over-year prices have now gone up twelve months in a row.

Bullhead City Home Prices

Sellers look to cash in on rising prices

Higher prices have drawn more sellers into the market. Makes sense. When the price of widgets goes up, more widget owners are bound to think about selling. But there’s more going on here than those free market basics. It’s a matter of equity.

138 new residential listings came on the market in February and 116 of them are not distress sales. That’s the highest number of traditional listings to hit the market in a single month in more than four years. Why? Because prices are higher and more people are in a position to sell without being upside down.

Supply drives price

While it’s great to see prices going up again, and it’s wonderful to see distress sales dropping, a record-setting number of new listings is not something we want to see on a regular basis. Supply drives price. The last thing a healthy (recovering) market needs is an over-supply of homes, which is what caused prices to drop to begin with.

The Stats:

Bullhead City Single Family Homes
Feb-2013 Jan-2013 Feb-2012
Units Sold 39 36 40
Dollar Volume $5,925,820 $5,573,481 $4,251,690
Median Price $139,900 $129,450 $96,500
Price per Sq Ft $87.38 $81.40 $65.64

 

Bullhead City Manufactured Homes
Feb-2013 Jan-2013 Feb-2012
Units Sold 24 23 28
Dollar Volume $972,950 $1,094,600 $1,013,850
Median Price $40,000 $35,000 $32,500
Price per Sq Ft $37.07 $55.15 $39.23

 

Bullhead City Condos
Feb-2013 Jan-2013 Feb-2012
Units Sold 4 3 5
Dollar Volume $352,500 $483,899 $628,800
Median Price $91,500 $128,900 $127,900
Price per Sq Ft $67.22 $116.70 $86.59

 

Bullhead City Residential Sales Year-to-Date
2013 2012 2011
Units Sold 129 135 145
Dollar Volume $14,403,250 $12,306,415 $14,533,970


Fort Mohave

Fort Mohave Single Family Homes
Feb-2013 Jan-2013 Feb-2012
Units Sold 19 16 25
Dollar Volume $2,876,425 $2,176,250 $2,889,206
Median Price $155,000 $118,950 $109,000
Price per Sq Ft $87.71 $80.37 $68.92

 

Fort Mohave Manufactured Homes
Feb-2013 Jan-2013 Feb-2012
Units Sold 6 6 10
Dollar Volume $294,400 $360,400 $506,000
Median Price $46,500 $57,700 $50,000
Price per Sq Ft $34.09 $43.02 $40.76

 

Fort Mohave Residential Sales Year-to-Date
2013 2012 2011
Units Sold 47 63 60
Dollar Volume $5,707,475 $6,297,856 $6,789,610

Source: Western Arizona REALTOR® Data Exchange

Like to keep up on local market stats and trends? The monthly real estate report is released after the tenth of each month. Or run your own Search for Homes in the Bullhead City area 24/7. Of course I’m happy to do the searching for you. Just shout
.

{ Leave a Comment }

Farmers Market Returns to Bullhead City

by Evan Fuchs February 26, 2013 Bullhead City News & Events

Okay, folks. Let’s try this again. I’m a big fan of Farmers Markets, so I was pretty jazzed to learn about the Farmers Market coming to Bullhead City nearly four years ago. Unfortunately, it didn’t last very long. If you’ve ever been to a thriving Farmers Market you know they are about even more than fresh […]

Read the full article →

Bullhead City Real Estate Report – January, 2013

by Evan Fuchs February 21, 2013 Bullhead City Real Estate

Bullhead City and Fort Mohave real estate market update. Home sales statistics from local MLS – Western Arizona REALTOR Data Exchange. New year picks up where last year left off With the first month in the books, 2013 is looking pretty similar to last year. In January, the median price of single family homes sold in […]

Read the full article →