Bullhead City Real Estate Report – April, 2009

Bullhead City, Fort Mohave, and Mohave Valley home sales for the month of April, 2009.

Please note this report includes all residential property types (Single Family Homes, Manufactured Homes, Condominiums) and does not include commercial property or vacant land.

Bullhead City Home Sales

Year-over-year sales trended up for the sixth consecutive month in April and the number of homes sold increased by one compared to March.

Overall dollar volume dropped significantly though, with the median sale price moving way down to $95,750 from $140,000 the month before. There’s more to this than meets the eye though.

There were a more manufactured home sales and fewer site built home sales in April. Those manufactured homes tend to be more affordable per square foot ($71.48 vs. $93.18 for site built this month). As I’ve said before, more buyers will flock to manufactured homes now that site built home prices in Bullhead City are moving up at the bottom end of the market.

Also, two of the 59 homes sold in March accounted for a whopping $5.25 million in sales*. Consider the data skewed.

Nevertheless, the median price did in fact decrease by 31%. Do not expect this to continue next month.

The stats:

Units Sold – 60 (59)
Dollar Volume – $8,283,996 ($13,836,411)
Average Price – $138,067 ($234,515*)
Median Price – $95,750 ($140,000)

Year-to-Date
Units Sold – 212
Dollar Volume – $36,399,257

Fort Mohave Home Sales

Homes sales bumped up quite a bit in Fort Mohave (28%) as did the dollar volume. Median price of homes sold in April was almost identical to March.

Units Sold – 37 (29)
Dollar Volume – $4,830,155 ($3,638,841)
Average Price – $130,545 ($125,477)
Median Price – $137,600 ($137,500)

Year-to-Date
Units Sold – 105
Dollar Volume – $13,283,943

Mohave Valley Home Sales

Homes sold in Mohave Valley actually fell a little for the first time this year as did the median sale price. The average price per square foot dropped by 11%.

Units Sold – 14 (18)
Dollar Volume – $1,941,210 ($2,421,335)
Average Price – $138,658 ($134,519)
Median Price – $89,250 ($106,889)

Year-to-Date
Units Sold – 61
Dollar Volume – $8,661,869

Source: Western Arizona REALTOR® Data Exchange

Like to keep up on local market stats and trends? The monthly real estate report is released by the tenth of each month, followed by the foreclosure report.

Looking for bank-owned homes? Get the foreclosure list here.