Bullhead City Real Estate Report – April, 2010

by Evan Fuchs on May 31, 2010

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

Like to keep up on local market stats and trends? The monthly real estate report is usually released after the tenth of each month, followed by the foreclosure report. Or run your own Search for Homes in the Bullhead City area 24/7. Of course I’m happy to do the searching for you. Just shout.
<th align=”left” scope=”col”>March 2010</th>
<th align=”left” scope=”col”>February 2010</th>
<th align=”left” scope=”col”>March 2009</th>

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