This Bullhead City foreclosure report covers Single Family Homes only, since Manufactured Homes and Condominiums represent a very small portion of overall foreclosure sales in Bullhead City.
44% of Bullhead City houses sold in September were foreclosures
Nearly half of the Single Family Homes sold last month were foreclosures. Not startling considering foreclosures have now accounted for at least 40% of the Single Family Home sales in Bullhead City for five of the last six months.
I feel the need to mention that the point in tracking foreclosures is not to be sensational or contribute to the gloom and doom we hear/read/see about the economy. The point is that foreclosures are real. Lots of people got in too deep and/or got hammered by unforeseen shifts in the real estate market and lost or walked away from lots of houses.
As I said when I first wrote about foreclosures in Bullhead City in detail back in June:
However, with foreclosures representing 37% of the Single Family home sales in the last 90 days, if you are a seller in today’s market they are the competition.
Until foreclosures work through the market, sellers will have to compete with them for buyers. There 76 of the 568 houses on the market in Bullhead City at the end of September. Here’s the breakdown for September:
Foreclosures Sold
Sold: 14
Median Sale Price: 125,000
Avg. Price per Square Foot: $93.09
Avg. List/Sale Ratio: 93.5%
Avg. Days on Market: 119
Non-Foreclosures Sold
Sold: 18
Median Sale Price: 185,000
Avg. Price per Square Foot: $128.88
Avg. List/Sale Ratio: 96.3%
Avg. Days on Market: 243
Remember, there are lot’s of good deals out there, and not all of them are foreclosures. If you’re in the market looking for those good deals, be sure to talk to your agent about opportunities in both foreclosure and non-foreclosure properties.
If you’d like to know more about foreclosures for sale in the Bullhead City area, contact me for a current list of Bullhead City foreclosures.
For more on the Bullhead City market checkout the latest edition of The Informant, a publication of Bullhead Laughlin Realty.
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