Bullhead City, Fort Mohave, and Mohave Valley home sales stats for November, 2009.
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 Homes Sold in November, 2009
The big story this month is that November was stronger than October for the first time since 2002. It may have been by only a few homes, but it’s significant considering that November is, on average, the slowest month of the year for closed sales.
Also encouraging are the year-over-year stats, with the number of homes sold this November up nearly 48% compared to 2008.
But what about prices you ask? Well, I’d say you’re probably asking the wrong question. Or maybe just asking it too soon.
We’re still sitting on close to 12 months of inventory in Bullhead City. While that’s a heck of a lot better than the 22 month supply we had just a year ago, more than 6 months supply is considered a buyer’s market.
The price conversation will make more sense when get closer to that 6 month mark.
Monthly Home Sales Comparison – Bullhead City, Arizona
| November 2009 | October 2009 | November 2008 | |
|---|---|---|---|
| Units Sold | 71 | 67 | 48 |
| Dollar Volume | $8,691,815 | $8,310,416 | $7,314,050 |
| Average Price | $122,420 | $124,036 | $152,376 |
| Median Price | $103,000 | $120,000 | $120,000 |
Year-to-Date Home Sales Comparison – Bullhead City
| 2009 | 2008 | |
|---|---|---|
| Units Sold | 733 | 560 |
| Dollar Volume | $104,718,818 | $100,020,616 |
Fort Mohave Homes Sold in November, 2009
Much like Bullhead City, more homes were sold Fort Mohave in November than the prior month. Also similar, year-over-year sales were way up.
Monthly Home Sales Comparison – Fort Mohave, Arizona
| November 2009 | October 2009 | November 2008 | |
|---|---|---|---|
| Units Sold | 28 | 24 | 14 |
| Dollar Volume | $3,207,100 | $2,986,583 | $2,232,700 |
| Average Price | $114,539 | $124,441 | $159,479 |
| Median Price | $112,250 | $126,500 | $145,000 |
Year-to-Date Home Sales Comparison – Fort Mohave
| 2009 | 2008 | |
|---|---|---|
| Units Sold | 316 | 242 |
| Dollar Volume | $40,347,048 | $41,334,865 |
Mohave Valley Homes Sold in November, 2009
As we’ve seen most of the year, Mohave Valley tends to march to a different sales beat than its neighbors to the north.
Frankly, I think there will need to be significantly more improvement is the Bullhead City and Fort Mohave markets before we see sustained improvement in Mohave Valley.
In my opinion, there is too much affordable inventory in those areas to create much overflow demand into Mohave Valley. It may be different this time next year.
Monthly Home Sales Comparison – Mohave Valley, Arizona
| November 2009 | October 2009 | November 2008 | |
|---|---|---|---|
| Units Sold | 9 | 13 | 7 |
| Dollar Volume | $853,500 | $2,112,600 | $1,032,549 |
| Average Price | $94,833 | $162,508 | $147,507 |
| Median Price | $102,300 | $135,000 | $130,200 |
Year-to-Date Home Sales Comparison – Mohave Valley
| 2009 | 2008 | |
|---|---|---|
| Units Sold | 151 | 95 |
| Dollar Volume | $20,352,086 | $20,767,970 |
Source: Western Arizona REALTOR® Data Exchange
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