Bullhead City, Fort Mohave, and Mohave Valley home sales stats for May, 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.
Home Sales Level, Median Price Jumps Up
And now for something completely different…
While the number of units sold in May moved up only slightly from April, the median price shot up a surprising 29% – from $83,500 to $108,000.
Sneaking a peak at the month-to-date numbers for June, it looks like more of a blip than a trend, which makes sense. While the Bullhead City inventory has dropped significantly over the last 18 months, there is still an 8 month supply of homes on the market. Supply drives price, so I suspect we’ll need to see that number drop more before we can expected sustained appreciation.
Bullhead City home sales have now increased year-over-year for 19 months in a row.
The stats:
Monthly Home Sales Comparison – Bullhead City, Arizona
| May 2010 | Last Month | May 2009 | |
|---|---|---|---|
| Units Sold | 79 | 77 | 60 |
| Dollar Volume | $9,405,681 | $7,571,543 | $8,283,996 |
| Average Price | $119,059 | $98,332 | $138,067 |
| Median Price | $108,000 | $83,500 | $95,750 |
Year-to-Date Home Sales Comparison – Bullhead City
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 412 | 290 |
| Dollar Volume | $47,430,242 | $47,445,182 |
Fort Mohave Bucks the Trend
The number of homes sold actually dipped slightly in Fort Mohave. There were 33 homes sold, compared to 36 last month.
The stats:
Monthly Home Sales Comparison – Fort Mohave, Arizona
| May 2010 | Last Month | May 2009 | |
|---|---|---|---|
| Units Sold | 33 | 44 | 38 |
| Dollar Volume | $3,219,400 | $5,146,200 | $4,935,155 |
| Average Price | $97,558 | $116,959 | $129,873 |
| Median Price | $97,000 | $112,500 | $137,300 |
Year-to-Date Home Sales Comparison – Fort Mohave
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 177 | 141 |
| Dollar Volume | $20,334,341 | $17,655,968 |
Mohave Valley Keeps Pace
Once again, wild fluctuation in price, but not much change in units.
The stats:
Monthly Home Sales Comparison – Mohave Valley, Arizona
| May 2010 | Last Month | May 2009 | |
|---|---|---|---|
| Units Sold | 16 | 13 | 14 |
| Dollar Volume | $2,027,412 | $879,500 | $1,941,210 |
| Average Price | $126,713 | $67,654 | $138,658 |
| Median Price | $117,500 | $63,000 | $89,250 |
Year-to-Date Home Sales Comparison – Mohave Valley
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 74 | 79 |
| Dollar Volume | $7,291,462 | $11,278,669 |
Source: Western Arizona REALTOR® Data Exchange
<th align=”left” scope=”col”>February 2010</th>
<th align=”left” scope=”col”>March 2009</th>
Related posts:
