Bullhead City, Fort Mohave, and Mohave Valley home sales stats for August, 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.
Small change in Bullhead City prices. Big change in units sold.
After an 18% jump last month, the median price of site built homes in Bullhead City slipped slightly this month from $114,500 to $113,000. At the same time, the price per square foot grew by 2%.
Including condos and manufactured homes, the overall residential median sale price went from $80,000 in July to $79,000.
All pretty modest changes, but the big stat this month is the 71 homes sold, which dipped 24% month-to-month and 18% year-over-year.
In any other year, such a drop from July to August would not be typical, but a month-to-month change of that size is par for the course in 2010. For example, sales jumped 24% from February to March, and then dropped 28% in April.
However, year-over-year unit sales, which compares the number of homes sold with the same period in the previous year, had grown for 21 months in a row coming into August. That streak is now over.
The big question of 2010 is whether or not the tax credit worked. Personally, I don’t think we’ll ever have a concrete answer. What we’ll have instead is a whole bunch of opinions. One such opinion is that the tax credit caused people who would have bought this year to get under contract before the April 30 deadline, shifting the distribution of 2010 sales into the first quarter.
It’s too early to call, but the numbers thus far could support that theory. Of course there are tons of other variables at play as we head toward the typically slower fourth quarter. Again, 2010 has been anything buy typical.
The stats:
Monthly Home Sales Comparison – Bullhead City, Arizona
| August 2010 | A Month Ago | A Year Ago | |
|---|---|---|---|
| Units Sold | 71 | 94 | 87 |
| Dollar Volume | $7,462,762 | $9,648,129 | $11,838,545 |
| Average Price | $105,109 | $102,640 | $136,075 |
| Median Price | $79,000 | $80,000 | $117,000 |
Year-to-Date Home Sales Comparison – Bullhead City
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 660 | 526 |
| Dollar Volume | $73,555,936 | $78,411,607 |
Fort Mohave sales slow.
As I’ve pointed out before, Fort Mohave has quietly put together a strong recovery this year. Despite year-to-date lows in both units sold and median sales price in August, the market is still basically in balance with a 5.6 month supply of homes based on the last 12 months sales.
The stats:
Monthly Home Sales Comparison – Fort Mohave, Arizona
| August 2010 | A Month Ago | A Year Ago | |
|---|---|---|---|
| Units Sold | 22 | 30 | 31 |
| Dollar Volume | $2,293,877 | $3,569,890 | $3,936,600 |
| Average Price | $104,267 | $118,996 | $126,987 |
| Median Price | $96,450 | $120,200 | $130,000 |
Year-to-Date Home Sales Comparison – Fort Mohave
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 268 | 238 |
| Dollar Volume | $30,671,458 | $,30,138,193 |
Mohave Valley consistently inconsistent
It’s hard find a pattern in the Mohave Valley market, which hit a 14-month high with 19 homes sold in August.
The stats:
Monthly Home Sales Comparison – Mohave Valley, Arizona
| August 2010 | A Month Ago | A Year Ago | |
|---|---|---|---|
| Units Sold | 19 | 15 | 12 |
| Dollar Volume | $2,100,470 | $1,166,385 | $1,847,729 |
| Average Price | $110,551 | $77,759 | $153,977 |
| Median Price | $85,000 | $55,000 | $122,450 |
Year-to-Date Home Sales Comparison – Mohave Valley
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 122 | 123 |
| Dollar Volume | $11,697,141 | $17,001,098 |
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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