Bullhead City, Fort Mohave, and Mohave Valley home sales for the month of December, 2008.
Please note this report includes all residential property types (Single Family Homes, Manufactured Homes, Condominiums) and does not include commercial property or vacant land. Enjoy!
Bullhead City Home Sales
How nice to start 2009 with some good news. December was a good month for Bullhead City real estate. Before I elaborate let me first set the stage by briefly reviewing what December looked like in 2007: To put it simply, December of 2007 was the single worst month for real estate in Bullhead City in over a decade.
Yes, the bar was set pretty low, but if you are one of those folks looking for the bottom of the market you might be interested to know that December of 2008 was better – by far.
One more thing before I go on. We have a seasonal market. Year in and year out certain months account for a bigger share of the total annual sales than others. So if sales jump 25% from January to April it may mean nothing more than April is a busier time for real estate sales in Bullhead City than January. To help see past these month to month comparisons, it’s helpful to compare “year-over-year” statistics. Rather than looking at how December was different than November for example, you’d look at how December of 2008 was different than December of 2007.
OK. On to the report:
Home sales have been very, very steady for 4 months running now, with monthly sales ranging from 44 – 48 homes. This is worth mentioning because November and December combined sales are nearly always lower than September and October. Not so in 2008.
The 45 Bullhead City homes sold in December marked a 41% year over-year-increase. That is a BIG variance.
Why the change? Well, price probably has a lot to do with it. The median sale price in December was $105,000, down from $120,000 in November. Here is the summary for Bullhead City:
Units Sold – 45
Dollar Volume – $5,097,250
Average Price – $113,272
Median Price – $105,000
Year-to-Date
Units Sold – 604
Dollar Volume – $104,815,866
Fort Mohave Home Sales
Similar to Bullhead City, Fort Mohave sales were steady, moving from 14 homes in November to 15 in December. Also similar, the year-over-year sales jumped big – 67%. Median sales price actually went up from $145,000 to $150,000.
Units Sold – 15
Dollar Volume – $2,388,800
Average Price – $159,253
Median Price – $150,000
Year-to-Date
Units Sold – 257 242
Dollar Volume – $43,723,665 $41,334,865
Mohave Valley Home Sales
Mohave Valley was just like its neighbor. Identical to November, there were 7 homes sold. The median sale price dropped from $130,200 to $83,000. Again, year-over-year sales went up from 4 homes sold in December of 2007.
Units Sold – 7
Dollar Volume – $899,877
Average Price – $128,554
Median Price – $83,000
Year-to-Date
Units Sold – 102
Dollar Volume – $21,667,847
Source: Western Arizona REALTOR® Data Exchange
There you have it. The final monthly sales report for 2008. And it was a good one!
The foreclosure report for Bullhead City, Fort Mohave, and Mohave Valley will be available later this week.
If you’re looking for foreclosures in our area, you can find the foreclosure list here.
Also, I am working on an annual report for 2008 and expect to have it done no later than next week. Check back or Subscribe to Bullhead City Blog to have it delivered to you.
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