Bullhead City Real Estate Report – December, 2010

by Evan Fuchs on January 21, 2011

Bullhead City, Fort Mohave, and Mohave Valley home sales stats for December, 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.

Another strong December for Bullhead City home sales

Last year, Bullhead City had its strongest December in three years with 78 homes sold. And while the 76 homes sold this December marks a 3.5% dip year-over-year, the federal tax credit stimulus that was going strong a year ago has been mostly out of play since April.

Sales also picked up by 17% compared to the 65 homes sold in November.

The median home sale price did fall from $88,000 to $70,750 if you lump site built homes, manufactured homes, and condos together as one group. Separating out site built homes, which accounted for 64% of the sales in December, the median price was $88,900.

The year ended fittingly considering the path the Bullhead City market has been on for the last several years. The number of homes sold was respectable, but they sold at lower prices. However, it’s probably the only way when you consider that affordability is driving much of the current demand.

On the flip side, supply drives price, and there are now less than half the homes on the market than just there were just three years ago. 2010 started with 702 homes on the market and ended at 590.

Any fallout from the federal home buyer tax credit – concern over the market coming to a screeching halt once the tax credit ended and the training wheels came off – seems to be behind us as well.

The stats:

Monthly Home Sales Comparison – Bullhead City, Arizona

December 2010 A Month Ago A Year Ago
Units Sold 76 65 78
Dollar Volume $7,366,944 $6,802,356 $10,502,800
Average Price $96,933 $89,000 $134,651
Median Price $70,750 $88,000 $98,500

Year-to-Date Home Sales Comparison – Bullhead City

2010 2009
Units Sold 935 812
Dollar Volume $102,875,821 $115,461,518

Fort Mohave home sales up for 3rd straight month

Monthly homes sales in Fort Mohave have outpaced last year for three months in a row. 40 homes sold in December, up 33% from November and 8% from December of 2009.

The median price fell by 5%, but overall volume grew by more than $1 million for the month.

Affordable prices and favorable financing options are among the factors at play. For example, the USDA program offers zero down financing that is not available in Bullhead City.

The stats:

Monthly Home Sales Comparison – Fort Mohave, Arizona

December 2010 A Month Ago A Year Ago
Units Sold 40 30 37
Dollar Volume $3,950,400 $2,951,325 $4,744,570
Average Price $98,760 $98,378 $128,232
Median Price $89,500 $93,900 $125,000

Year-to-Date Home Sales Comparison – Fort Mohave

2010 2009
Units Sold 391 354
Dollar Volume $43,481,478 $45,271,618

Mohave Valley ends the year on a high note

After sinking into single-digit territory with 9 homes sold in November, Mohave Valley finished with one of its strongest months of the year in terms of homes sold. December was also the highest volume month of the 2010.

Monthly Home Sales Comparison – Mohave Valley, Arizona

December 2010 A Month Ago A Year Ago
Units Sold 16 9 14
Dollar Volume $2,121,017 $950,000 $1,270,200
Average Price $132,564 $105,556 $90,729
Median Price $78,084 $97,000 $74,600

Year-to-Date Home Sales Comparison – Mohave Valley

2010 2009
Units Sold 177 165
Dollar Volume $18,714,488 $21,622,286

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.

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