Bullhead City, Fort Mohave, and Mohave Valley home sales for the month of June, 2009.
Please note this report includes all residential property types (Single Family Homes, Manufactured Homes, Condominiums) and does not include commercial property or vacant land.
Bullhead City Home Sales
Coming off the biggest month in two years, Bullhead City sales dipped a bit in June. However, 67 homes sold for the month bettered last June’s 58 homes, and is the second highest tally of 2009. The median sale price also moved down from $142,778 in May to $138,530. Price per square foot (not shown in the chart) actually increased from $86.43 to $89.22 so go figure.
I wouldn’t read anything into these little monthly price fluctuations, but check out the difference in price from a year ago. Median price is close to 39% lower than 2008 when price per square foot was $116.97. This “prices are lower” newsflash probably won’t knock anyone off their chairs. Take comfort in the fact that units are moving and inventory is dropping. Prices will move up if that trend continues.
Monthly Comparison for Bullhead City
| June 2009 | Previous Month | June 2008 |
|
|---|---|---|---|
| Units Sold | 67 | 77 | 58 |
| Dollar Volume | $9,281,529 | $10,993,925 | $13,069,509 |
| Average Price | $138,530 | $142,778 | $225,336 |
| Median Price | $113,000 | $130,000 | $141,070 |
Year to Date
| 2009 | 2008 | |
|---|---|---|
| Units Sold | 357 | 289 |
| Dollar Volume | $56,726,711 | $54,614,688 |
Fort Mohave Home Sales
Just like it’s neighbor to the north, Fort Mohave had fewer sales this month, but the median price moved up. Price per square foot was $77.23 in May compared to $84.26 in June. If you have an interest in Fort Mohave here’s something else you should know.
Thanks to steadily dropping inventory, Fort Mohave was sitting on about a nine month supply of homes at the end of June. That’s significantly lower than Bullhead City ( just over 13 months supply at month’s end).
Six months supply is a balanced market, and while both markets are heading there it looks like Fort Mohave might get there first.
Monthly Comparison for Fort Mohave
| June 2009 | Previous Month | June 2008 |
|
|---|---|---|---|
| Units Sold | 27 | 36 | 27 |
| Dollar Volume | $3,752,325 | $4,348,400 | $4,856,500 |
| Average Price | $138,975 | $120,789 | $179,870 |
| Median Price | $133,000 | $128,000 | $175,000 |
Year to Date
| 2009 | 2008 | |
|---|---|---|
| Units Sold | 168 | 141 |
| Dollar Volume | $21,408,293 | $24,940,843 |
Mohave Valley Home Sales
Mohave Valley has made a pretty remarkable comeback this year. Yes, prices are down, but the number of sales are way up. Hate to sound like a broken record here, but ya gotta move the inventory before prices start going up.
Mohave Valley is doing exactly that, with 149 homes on the market compared to 213 at the start of the year. That’s a drop of more than 30%.
Monthly Comparison for Mohave Valley
| June 2009 | Previous Month | June 2008 |
|
|---|---|---|---|
| Units Sold | 20 | 17 | 11 |
| Dollar Volume | $2,555,100 | $2,587,316 | $1,962,300 |
| Average Price | $127,755 | $152,195 | $178,391 |
| Median Price | $114,450 | $124,000 | $167,500 |
Year to Date
| 2009 | 2008 | |
|---|---|---|
| Units Sold | 98 | 55 |
| Dollar Volume | $13,643,769 | $12,786,250 |
Source: Western Arizona REALTOR® Data Exchange
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