Bullhead City, Fort Mohave, and Mohave Valley home sales for the month of May, 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
May was b.i.g. – BIG.
Two stats jump off the page at first glance:
1) 77 homes sold in Bullhead City is the highest in two years.
2) Year-over-year sales jumped up a whopping 79% from May 2008.
I like looking at year-over-year sales because it shows you how the market performed in the same period last year, which eliminates the seasonality factor. Year-over-year sales have now been in the plus for seven months straight after being in the minus for 30 out of 31 previous months.
After dipping in April, the average price, median price, and dollar volume all moved up month-over-month.
The stats (Prior month shown in parentheses):
Units Sold – 77 (60)
Dollar Volume – $10,993,925 ($8,283,996)
Average Price – $142,778 ($138,067)
Median Price – $130,000 ($95,750)
Year-to-Date
Units Sold – 289
Dollar Volume – $47,393,182
Fort Mohave Home Sales
In contrast to Bullhead City, the numbers actually moved down (a little) this month in Fort Mohave. The number of homes sold went from 37 to 35, but the median price dropped by about 7%. Keep in mind that little ripples get magnified when you’re dealing with small sets of numbers.
The stats:
Units Sold – 35 (37)
Dollar Volume – $4,231,400 ($4,830,155)
Average Price – $120,897 ($130,545)
Median Price – $128,000 ($137,600)
Year-to-Date
Units Sold – 141 105
Dollar Volume – $17,620,343 $13,283,943
Mohave Valley Home Sales
Mohave Valley keeps on truckin’ with 17 homes sold for the month. Average and median prices both moved up. Again, little ripples.
The stats:
Units Sold – 17 (14)
Dollar Volume – $2,587,316 ($1,941,210)
Average Price – $152,195 ($138,658)
Median Price – $124,000 ($89,250)
Year-to-Date
Units Sold – 78
Dollar Volume – $11,249,185
Source: Western Arizona REALTOR® Data Exchange
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