Bullhead City Foreclosure Report – September, 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.

58% of the Bullhead City homes sold in September were bank-owned properties. If you think that’s a big spread, you’re right.

Foreclosures grabbed 53% of the sales in August. Only in January have foreclosures accounted for a larger percentage of monthly sales in 2009.

Take a look at the Legal Notices section of the newspaper and look for Notice of Trustee’s Sale. These must be posted at least once a week, for four consecutive weeks, as part of the trustee sale process – and there are plenty.

Yes, foreclosures are here to stay for now, and it’s a downright shame that people are losing their homes. But tracking them here helps us better understand their impact on the market.

Banks continue to sell homes much faster and closer to asking price than traditional human sellers, but the difference in price per square foot between foreclosures and the rest of the market has gotten considerably smaller in the last couple of months.

Here are the stats:

Bullhead City Residential Sales in September 2009

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

	Foreclosures	Non-Foreclosures
Units Sold	40	29
Median Sale Price	108,000	109,900
Avg. Price per Square Foot	$76.06	$82.24
Avg. List/Sale Ratio	97.1%	90.8
Avg. Days on Market	89	194

Site Built Homes

	Foreclosures	Non-Foreclosures
Units Sold	32	15
Median Sale Price	$114,250	$229,000
Avg. Price per Square Foot	$78.05	$116.65
Avg. List/Sale Ratio	97.1%	94.4%
Avg. Days on Market	87	171

Manufactured Homes

	Foreclosures	Non-Foreclosures
Units Sold	3	14
Median Sale Price	$57,000	$52,450
Avg. Price per Square Foot	$50.16	$45.36
Avg. List/Sale Ratio	95.7%	86.9%
Avg. Days on Market	105	218

Condominiums

	Foreclosures	Non-Foreclosures
Units Sold	5	0
Median Sale Price	$75,000	n/a
Avg. Price per Square Foot	$78.87	n/a
Avg. List/Sale Ratio	98.2%	n/a
Avg. Days on Market	93	n/a

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.