Bullhead City, Fort Mohave, and Mohave Valley home sales stats for January, 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.
Bullhead City Real Estate Comeback Continues
Last month I reported that Bullhead City home sales were up 66% from the previous December, closing out 2009 with a strong finish. That momentum has carried over into the new year and 2010 is off to a great start.
There were 63 homes sold in January compared to 45 homes a year ago, making it 15 months in a row that the number of homes sold has been greater than the year before.
Keep a very close eye on prices. The pace of sales is picking up everyday as our inventory of homes for sale continues to drop. There were 683 homes on the market this morning, the lowest number I have seen in a full four years.
The stats:
Monthly Home Sales Comparison – Bullhead City, Arizona
| January 2010 | December 2009 | January 2009 | |
|---|---|---|---|
| Units Sold | 63 | 78 | 45 |
| Dollar Volume | $8,905,200 | $10,502,800 | $6,871,450 |
| Average Price | $141,352 | $134,651 | $152,699 |
| Median Price | $109,000 | $98,500 | $115,000 |
Year-to-Date Home Sales Comparison – Bullhead City
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 63 | 45 |
| Dollar Volume | $8,905,200 | $6,871,450 |
Fort Mohave Continues Toward Seller’s Market
I’ve been talking about this for months now. Something has to give in Fort Mohave.
Fort Mohave has been averaging almost 31 homes sold per month for the last year and there are only 185 homes on the market. That’s a 6 month supply and it’s been dropping.
The stats:
Monthly Home Sales Comparison – Fort Mohave, Arizona
| January 2010 | December 2009 | January 2009 | |
|---|---|---|---|
| Units Sold | 28 | 37 | 20 |
| Dollar Volume | $2,702,410 | $4,744,570 | $2,154,950 |
| Average Price | $96,515 | $128,232 | $107,715 |
| Median Price | $102,500 | $125,000 | $113,550 |
Year-to-Date Home Sales Comparison – Fort Mohave
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 28 | 20 |
| Dollar Volume | $2,702,410 | $2,154,950 |
Mohave Valley Keeps Pace with Neighbors to the North
The numbers may be smaller, but we’re seeing a similar pattern in Mohave Valley. Sales picking up, inventory dropping.
The stats:
Monthly Home Sales Comparison – Mohave Valley, Arizona
| January 2010 | December 2009 | January 2009 | |
|---|---|---|---|
| Units Sold | 17 | 14 | 14 |
| Dollar Volume | $1,505,250 | $1,270,200 | $1,977,239 |
| Average Price | $88,544 | $90,729 | $141,231 |
| Median Price | $85,000 | $74,600 | $114,950 |
Year-to-Date Home Sales Comparison – Mohave Valley
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 17 | 14 |
| Dollar Volume | $1,505,250 | $1,977,239 |
Source: Western Arizona REALTOR® Data Exchange
As supply continues to drop in all three markets, lower priced houses are fewer and farther between. This has been especially obvious over the last few weeks as buyers are competing over those houses before they get gobbled up.
Supply drives price, so if this keeps up it’s only a matter of time before something has to give.
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