Bullhead City, Fort Mohave, and Mohave Valley home sales stats for June, 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 Home Sales Up, Median Price Down
Monthly home sales have now out-paced prior year numbers in Bullhead City for 20 straight months. At the same time, the number of homes on the market has dropped from 1,043 to 618, bringing the overall supply of homes in Bullhead City from 21.7 months to 7.9 months.
This depletion of supply is precisely what an ailing market needs. Abundant supply means abundant options for buyers, and the more options a buyer has, the more negotiating power they have. If they can’t get house #1 for the price they want, they can move on to house #2 or #3 or #4 or #5…
Framed this way, you can clearly see that supply is what drives price.
So while the market has done a lot of healing in the last two years, that healing has come at the cost of lower prices. Of course that’s great news for buyers, who are not only enjoying housing affordability, but also historically low interest rates.
The stats:
Monthly Home Sales Comparison – Bullhead City, Arizona
| June 2010 | Last Month | June 2009 | |
|---|---|---|---|
| Units Sold | 83 | 79 | 68 |
| Dollar Volume | $8,814,803 | $9,405,681 | $9,353,529 |
| Average Price | $106,202 | $119,059 | $137,552 |
| Median Price | $76,000 | $108,000 | $109,000 |
Year-to-Date Home Sales Comparison – Bullhead City
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 495 | 358 |
| Dollar Volume | $56,345,045 | $56,798,711 |
Fort Mohave Sales, Price Up from June
Median price jumps 11% in Fort Mohave, as sales grow month-to-month and year-over-year.
The stats:
Monthly Home Sales Comparison – Fort Mohave, Arizona
| June 2010 | Last Month | June 2009 | |
|---|---|---|---|
| Units Sold | 39 | 33 | 28 |
| Dollar Volume | $4,473,350 | $3,219,400 | $3,858,325 |
| Average Price | $114,701 | $97,558 | $137,797 |
| Median Price | $114,900 | $97,000 | $133,000 |
Year-to-Date Home Sales Comparison – Fort Mohave
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 216 | 169 |
| Dollar Volume | $24,807,691 | $21,514,293 |
Mohave Valley Sales Off Year-Over-Year
The number of Mohave Valley homes through June is actually down compared to 2009, as is the median price and overall volume.
The stats:
Monthly Home Sales Comparison – Mohave Valley, Arizona
| June 2010 | Last Month | June 2009 | |
|---|---|---|---|
| Units Sold | 14 | 16 | 20 |
| Dollar Volume | $1,138,824 | $2,027,412 | $2,555,100 |
| Average Price | $81,345 | $126,713 | $127,755 |
| Median Price | $73,063 | $117,500 | $114,450 |
Year-to-Date Home Sales Comparison – Mohave Valley
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 88 | 99 |
| Dollar Volume | $8,430,286 | $13,833,769 |
Source: Western Arizona REALTOR® Data Exchange
<th align=”left” scope=”col”>February 2010</th>
<th align=”left” scope=”col”>March 2009</th>
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