Bullhead City Foreclosure Report – November, 2009

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.

Hey guess what. Only 45% of the residential sales in November were foreclosures (REO/Bank-owned). Yes, that’s a lot of foreclosures, but it’s been a few months since foreclosures accounted for less than half of the monthly sales, and it’s the eve of the new year, so let’s call it a victory (yes, I’m sneaking this last real estate report in just under the wire).

So banks have grabbed a more than 50% of all the sales this year so far, and that’s a good thing because if those foreclosures were not selling, they would be putting even more pressure on the rest of the sellers in the market.

Bottom line, foreclosures need to move through the system at whatever price the market dictates.

We could not have hoped for better November home sales, with sales surpassed October for the first times in years. As mentioned, human sellers grabbed more than half of those sales.

Here’s the breakdown:

Bullhead City Residential Sales in November 2009

This first section includes all property types. A breakdown by property type follows.

	Foreclosures	Non-Foreclosures
Units Sold	32	39
Median Sale Price	$88,785	$120,000
Avg. Price per Square Foot	$69.63	$92.25
Avg. List/Sale Ratio	94.3%	91.2%
Avg. Days on Market	117	203

Site Built Homes

	Foreclosures	Non-Foreclosures
Units Sold	26	20
Median Sale Price	$95.335	$99,900
Avg. Price per Square Foot	$67.16	$103.76
Avg. List/Sale Ratio	94.7%	92.3%
Avg. Days on Market	110	184

Manufactured Homes

	Foreclosures	Non-Foreclosures
Units Sold	4	15
Median Sale Price	$62,500	$52,000
Avg. Price per Square Foot	$39.67	$73.07
Avg. List/Sale Ratio	89.7%	88.0%
Avg. Days on Market	179	235

Condominiums

	Foreclosures	Non-Foreclosures
Units Sold	2	4
Median Sale Price	$260,250	$131,700
Avg. Price per Square Foot	$161.65	$106.64
Avg. List/Sale Ratio	99.4%	97.6%
Avg. Days on Market	90	179

Looking for Bank-owned foreclosures in the Bullhead City area ? You might also want to check out our Bullhead City homes search. You can run your own home searches 24/7 and even get emailed when new matches hit the market. No login or personal information required.