Bullhead City, Fort Mohave, and Mohave Valley home sales for August, 2011. 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.
Site built homes moving in Bullhead City
It doesn’t seem to matter if the market is improving or declining, Bullhead City home sales are going to drop in September – at least they have for the last seven years. Even when annual home sales grew by 34% in 2009, they dropped 21% from August to September. Such is the seasonality of the Bullhead City market.
This time around home sales dropped 19% from August totals, but year-over-year sales increased by 3%, with 64 homes sold compared to 62 homes in September of 2010.
Tracking price trends has been a tricky game lately, and as usual median and average prices do not tell the whole story. Although the median residential sale price – which lumps together site-built homes, manufactured homes, and condos – dropped in September, the median price of site-built homes in Bullhead City went up from $112,000 to $114,950.
The inventory of site-built homes has dropped considerably in the last several months, going from 4.5 months supply of inventory at the end of the second quarter to 2.8 months supply at the end of the third quarter (based on the sales activity in the preceding 6 months).
Look at houses below $150,000 and the supply slices in half to 1.4 months.
Now that the market has balanced out overall and returned to normal seasonal patterns, we are seeing a sharp segmentation by price and property type. I expect this to continue into 2012.
The stats:
Monthly Home Sales Comparison – Bullhead City, Arizona
| September 2011 | A Month Ago | A Year Ago | |
|---|---|---|---|
| Units Sold | 64 | 79 | 62 |
| Dollar Volume | $6,716,479 | $9,454,950 | $7,411,225 |
| Average Price | $104,945 | $119,683 | $119,536 |
| Median Price | $79,661 | $90,000 | $76,300 |
Year-to-Date Home Sales Comparison – Bullhead City
| 2011 | 2010 | |
|---|---|---|
| Units Sold | 741 | 724 |
| Dollar Volume | $77,767,323 | $81,064,161 |
Monthly Home Sales Comparison – Fort Mohave, Arizona
| September 2011 | A Month Ago | A Year Ago | |
|---|---|---|---|
| Units Sold | 36 | 24 | 25 |
| Dollar Volume | $3,470,000 | $2,467,920 | $3,217,695 |
| Average Price | $96,389 | $102,830 | $128,708 |
| Median Price | $92,050 | $92,450 | $115,000 |
Year-to-Date Home Sales Comparison – Fort Mohave
| 2011 | 2010 | |
|---|---|---|
| Units Sold | 305 | 293 |
| Dollar Volume | $33,353,692 | $33,889,153 |
Monthly Home Sales Comparison – Mohave Valley, Arizona
| September 2011 | A Month Ago | A Year Ago | |
|---|---|---|---|
| Units Sold | 15 | 13 | 14 |
| Dollar Volume | $1,515,900 | $1,115,900 | $1,787,640 |
| Average Price | $101,060 | $85,838 | $127,689 |
| Median Price | $85,100 | $63,100 | $70,500 |
Year-to-Date Home Sales Comparison – Mohave Valley
| 2011 | 2010 | |
|---|---|---|
| Units Sold | 133 | 138 |
| Dollar Volume | $13,295,306 | $13,903,801 |
Source: Western Arizona REALTOR® Data Exchange
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