The Bullhead City Foreclosure Report includes all homes sold in Bullhead City (site built homes, manufactured homes, and condominiums) as reported to the Western Arizona REALTOR® Data Exchange unless otherwise noted.
Bullhead City Residential Sales in June 2009
This first section includes all property types. A breakdown by property type follows.
It was almost a dead heat, but the scales did tip slightly in favor of the foreclosures sellers this month. There were a total of 67 homes sold in Bullhead City in June. 34 of those sales went to banks and the other 33 went to the human sellers.
I’ve been writing these dedicated foreclosure reports since last September, but I’m still amazed by the stats. It’s not just that foreclosures sell faster, for less money, and closer to the asking price. It’s how big the difference is.
Take a look.
| Foreclosures | Non-Foreclosures | |
|---|---|---|
| Units Sold | 34 | 33 |
| Median Sale Price | $104,650 | $115,000 |
| Avg. Price per Square Foot | $78.58 | $100.19 |
| Avg. List/Sale Ratio | 98.7% | 90.9% |
| Avg. Days on Market | 93 | 230 |
Bullhead City Site Built Homes Sold in June 2009
Site built homes typically make up the bulk of the foreclosure sales, and they also usually highlight the difference in stats mentioned above.
My oh my.
The average foreclosure sold in 93 days compared to 235 for the rest of the sales. At $83.45 per square foot, it’s no wonder those foreclosures averaged 99% of asking price.
| Foreclosures | Non-Foreclosures | |
|---|---|---|
| Units Sold | 29 | 20 |
| Median Sale Price | $123,500 | $183,550 |
| Avg. Price per Square Foot | $83.45 | $114.53 |
| Avg. List/Sale Ratio | 99.0% | 92.8% |
| Avg. Days on Market | 93 | 235 |
Bullhead City Manufactured Homes Sold in June 2009
More of the same for manufactured homes, but foreclosures only account for 25% of the sales in this market segment.
| Foreclosures | Non-Foreclosures | |
|---|---|---|
| Units Sold | 4 | 12 |
| Median Sale Price | $35,700 | $60,500 |
| Avg. Price per Square Foot | $42.15 | $78.40 |
| Avg. List/Sale Ratio | 96.3% | 87.5% |
| Avg. Days on Market | 87 | 205 |
Bullhead City Condominiums Sold in June 2009
After a nice bump last month, condos settled back to the norm we’ve seen in recent times. Despite the small number of sales, we continue to see more interest in condos. Don’t be surprised to see condo sales pick up over the next few months.
| Foreclosures | Non-Foreclosures | |
|---|---|---|
| Units Sold | 1 | 1 |
| Median Sale Price | $147,000 | $91,000 |
| Avg. Price per Square Foot | $83.05 | $74.84 |
| Avg. List/Sale Ratio | 98.1% | 92.9% |
| Avg. Days on Market | 105 | 230 |
Foreclosures Key to Bullhead City Real Estate Performance
Foreclosures are the single most important piece of the puzzle that is our real estate market. Banks have been ruling the day for awhile now, setting prices and forcing other seller to adapt if they want to compete for buyers. It doesn’t look like that is going to change anytime soon.
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