Bullhead City, Fort Mohave, and Mohave Valley home sales stats for December, 2009.
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.
Bullhead City has strongest December in 3 years
Home sales shot up in Bullhead City by a whopping 66% over last year’s tally with 78 homes sold in December compared to 47 homes last year.
Still, the most notable thing is not the year-over-year increase in home sales. More notable is that, unlike most years, December ‘09 was one of the biggest months of the year.
Another interesting detail is that the median price was only off by about 6% from the year before. I don’t put a whole lot of stock in averages or medians (and neither should you), but here’s a bottom line you can’t argue with:
Although the median price went down by 6%, the huge uptick in sales netted a 94% increase in volume. And this in what is supposed to be one of the slowest months of the year.
The stats:
Monthly Home Sales Comparison – Bullhead City, Arizona
| December 2009 | November 2009 | December 2008 | |
|---|---|---|---|
| Units Sold | 78 | 71 | 47 |
| Dollar Volume | $10,502,800 | $8,691,815 | $5,419,750 |
| Average Price | $134,651 | $122,420 | $115,314 |
| Median Price | $98,500 | $103,000 | $105,000 |
Year-to-Date Home Sales Comparison – Bullhead City
| 2009 | 2008 | |
|---|---|---|
| Units Sold | 812 | 607 |
| Dollar Volume | $115,461,518 | $105,440,366 |
Fort Mohave has strongest December in 5 years
You’ve got to take a close look at Fort Mohave. Not only have sales picked up, but there are now less than 200 homes for sale. Their 6.5 month supply makes it a balanced market – not a buyer’s market, not a seller’s market.
How about this? The supply of homes under $175,000 is actually only 4.5 months. That’s seller’s market territory.
The stats:
Monthly Home Sales Comparison – Fort Mohave, Arizona
| December 2009 | November 2009 | December 2008 | |
|---|---|---|---|
| Units Sold | 37 | 28 | 16 |
| Dollar Volume | $4,744,570 | $3,207,100 | $2,533,700 |
| Average Price | $128,232 | $114,539 | $158,356 |
| Median Price | $125,000 | $112,250 | $147,450 |
Year-to-Date Home Sales Comparison – Fort Mohave
| 2009 | 2008 | |
|---|---|---|
| Units Sold | 353 | 258 |
| Dollar Volume | $45,131,618 | $43,868,565 |
Mohave Valley has strongest December in 5 years
Rounding out the field, Mohave Valley also a strong December. Much like Bullhead City and Fort Mohave, the median price was down year-over-year, but units and volume were up.
The stats:
Monthly Home Sales Comparison – Mohave Valley, Arizona
| December 2009 | November 2009 | December 2008 | |
|---|---|---|---|
| Units Sold | 14 | 9 | 7 |
| Dollar Volume | $1,270,200 | $853,500 | $899,877 |
| Average Price | $90,729 | $94,833 | $128,554 |
| Median Price | $74,600 | $102,300 | $83,000 |
Year-to-Date Home Sales Comparison – Mohave Valley
| 2009 | 2008 | |
|---|---|---|
| Units Sold | 165 | 102 |
| Dollar Volume | $21,622,286 | $21,667,847 |
Source: Western Arizona REALTOR® Data Exchange
The year finished with a bang indeed, with inventory levels approaching that of a balanced market. Some market segments have passed balance and are swinging to favor the seller.
In closing I’ll say this. The market is healthier today than it has been in years.
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