Bullhead City, Fort Mohave, and Mohave Valley home sales stats for September, 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.
Typical fall in Bullhead City
It must be October. The World Series starts on Wednesday, temperature in Bullhead City has plummeted into double digit territory, and I’m reviewing the same seasonal trend I wrote about last year at this time, and the year before…
Our market has seasonal fluctuations that you can almost set your clock by. March – August is usually more active than September – February, and an August-to-September dip in homes sold is a Bullhead City tradition now six years deep:
- 2010: -14%
- 2009: -21%
- 2008: -32%
- 2007: -26%
- 2006: -28%
- 2005: -14%
So it seems Bullhead City experienced in September a typical – or even more mild than typical – 14% drop in month-to-month sales. However, there were 11% fewer homes sold than last September, which means year-over-year home sales have gone down two months in a row.
So what gives?
2010 started with a bang, posting a 67% year-over-year increase in homes sold in the 1st quarter – the biggest quarter since 2006. The tax credit stimulus was in play, and a surge of buyers were rushing to cash in their $8,000 freebie before the April 30 deadline.
Not surprisingly, the 2nd and 3rd quarter numbers slowed in comparison, although not by all that much (1st quarter sales were 12% higher than 3rd quarter).
Nevertheless, homes sales are up 21% in 2010 through September.
So we have significantly more homes sold this year, a recent trend of home sales slowing compared to last year at this time, and a very moderate August-September swing.
Looks like the tax credit rush, which was followed by some post-tax credit fallout, has settled into a typical seasonal trend.
The stats:
Monthly Home Sales Comparison – Bullhead City, Arizona
| September 2010 | A Month Ago | A Year Ago | |
|---|---|---|---|
| Units Sold | 61 | 71 | 69 |
| Dollar Volume | $7,301,225 | $7,462,762 | $9,304,980 |
| Average Price | $119,692 | $105,109 | $134,855 |
| Median Price | $76,000 | $79,000 | $109,900 |
Year-to-Date Home Sales Comparison – Bullhead City
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 721 | 595 |
| Dollar Volume | $80,857,161 | $87,716,587 |
Median price, Units sold increase in Fort Mohave.
I am always reluctant to draw too much attention to month-to-month price variations since a few sales can easily skew the data in a market of our size. Nevertheless, the overall residential median price in Fort Mohave did grow by 19% this month, while dropping approximately 15% compared to last year. Contrast this with Bullhead City, which dropped 4% this month and 31% year-over-year.
The stats:
Monthly Home Sales Comparison – Fort Mohave, Arizona
| September 2010 | A Month Ago | A Year Ago | |
|---|---|---|---|
| Units Sold | 25 | 22 | 26 |
| Dollar Volume | $3,217,695 | $2,293,877 | $4,055,172 |
| Average Price | $128,708 | $104,267 | $155,968 |
| Median Price | $115,000 | $96,450 | $135,950 |
Year-to-Date Home Sales Comparison – Fort Mohave
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 293 | 264 |
| Dollar Volume | $33,889,153 | $34,193,365 |
Mohave Valley
Nine of the 14 homes sold this month in Mohave Valley were foreclosures as the median price dipped from $85,000 to $70,500.
The stats:
Monthly Home Sales Comparison – Mohave Valley, Arizona
| September 2010 | A Month Ago | A Year Ago | |
|---|---|---|---|
| Units Sold | 14 | 19 | 6 |
| Dollar Volume | $1,787,640 | $2,100,470 | $384,888 |
| Average Price | $127,689 | $110,551 | $64,148 |
| Median Price | $70,500 | $85,000 | $60,000 |
Year-to-Date Home Sales Comparison – Mohave Valley
| 2010 | 2009 | |
|---|---|---|
| Units Sold | 136 | 129 |
| Dollar Volume | $13,484,781 | $17,385,986 |
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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