Bullhead City, Fort Mohave, and Mohave Valley home sales stats for April, 2010.
Includes all residential property types (Single Family Homes, Manufactured Homes, Condominiums) reported to the Western Arizona REALTOR Data Exchange. No commercial property or vacant land.
Home Buyer Tax Credit Frenzy Ends
April 30th marked the end of the Federal Home Buyer Tax Credit (with the exception of select members of the military). The idea behind the tax incentive was to encourage people to buy real estate by giving them what amounted to a rebate on their home purchase of up to $8,000.
I’m not sure if we’ll ever know if it worked, but in Bullhead City it certainly seemed to draw out a bunch of buyers in the first quarter looking to beat the April 30, 2010 deadline. March sales were off the charts.
I’m sure the tax credit was effective in helping some buyers who otherwise would not have bought a home this year. At the same time, I suspect it also had the effect of moving up the timetable for some people that would have bought sometime later this year. So I’m not surprised to see a correction in April, following the highest selling month in 3 1/2 years.
Note however that year-over-sales continue to improve for the 18th month in a row, with April sales up 28% from 2009.
The stats:
Monthly Home Sales Comparison – Bullhead City, Arizona
| April 2010 | March 2010 | April 2009 | |
|---|---|---|---|
| Units Sold | 77 | 107 | 60 |
| Dollar Volume | $7,571,543 | $11,450,243 | $8,283,996 |
| Average Price | $98,332 | $107,012 | $138,067 |
| Median Price | $83,500 | $85,000 | $95,750 |
Year-to-Date Home Sales Comparison – Bullhead City
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 333 | 213 |
| Dollar Volume | $38,124,561 | $36,451,257 |
Another Record for Fort Mohave Home Sales
It looks like sales were a little slower to correct in Fort Mohave. With sales outpacing March by one, April was the biggest month in over 4 years with 44 homes sold. Expect to see the correction in May instead.
The stats:
Monthly Home Sales Comparison – Fort Mohave, Arizona
| April 2010 | March 2010 | April 2009 | |
|---|---|---|---|
| Units Sold | 44 | 43 | 38 |
| Dollar Volume | $5,146,200 | $5,166,125 | $4,935,155 |
| Average Price | $116,959 | $120,142 | $129,873 |
| Median Price | $112,500 | $119,000 | $137,300 |
Year-to-Date Home Sales Comparison – Fort Mohave
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 144 | 105 |
| Dollar Volume | $17,114,941 | $13,307,568 |
More of the Same in Mohave Valley
There has not been a lot of month-to-month fluctuation in homes sales in Mohave Valley, where the market seems to be slower to rebound than in neighboring Fort Mohave and Bullhead City. However, home prices have been all over the map.
The stats:
Monthly Home Sales Comparison – Mohave Valley, Arizona
| April 2010 | March 2010 | April 2009 | |
|---|---|---|---|
| Units Sold | 13 | 15 | 14 |
| Dollar Volume | $879,500 | $1,631,000 | $1,941,210 |
| Average Price | $67,654 | $108,733 | $138,658 |
| Median Price | $63,000 | $110.250 | $89,250 |
Year-to-Date Home Sales Comparison – Mohave Valley
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 58 | 62 |
| Dollar Volume | $5,264,050 | $8,691,353 |
Source: Western Arizona REALTOR® Data Exchange
<th align=”left” scope=”col”>February 2010</th>
<th align=”left” scope=”col”>March 2009</th>
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