As the temperature increased during July, the cities along the banks of the Colorado River, the real estate market saw the numbers of single family homes increase over June 2010.  Bullhead City, Fort Mohave and Mohave Valley local MLS reported 90 single family homes sales for the month of July 2010.  We have not seen that many sales since April, reported 91 sales with many of those buyers eyeing for the original tax credit deadline.  

Encouraging, the median and average sales prices were higher in July when compared to April.  Median sales price during July increased to $118,250.  Foreclosures home sales continue to remain center stage claiming 63% of the market in Bullhead City, Fort Mohave and Mohave Valley Arizona.  July was a good month for homeowners trying to avoid foreclosure as short sales claimed 10% of the sales.  This was the highest amount of short sale closing so far this year. 

July 2010 saw the highest sales price for a single family home this year.  A beautiful custom pool 4600+ sq ft home, with monster garage and spectacular views took the award for 2010 highest sale at $765,250.  I’m sure the neighbors in Arroyo Vista Estates are celebrating the price of this home!  This luxury home sale price helped increase the average sales price in Bullhead City, Fort Mohave and Mohave Valley up to $125,491.  

Keeping in step with last month our market saw 71% of the homes selling for under $150,000 with six of the sales over $200,000.  Homes on the market came down to 445 along with only 168 homes under contract.  

Year over year comparisons, the Bullhead City, Fort Mohave and Mohave Valley real estate market continues to bump along in the right direction.  Sales are up 4%; homes under contract are up 9% and the inventory of existing homes is down 18%.  

 Although the national media predicts a slow during the 4^th quarter in real estate sales, Bullhead City’ real estate market could likely continue in an upward tick.  We remain hopeful that with all of this is good news for our local real estate market; we may have a brighter future than our neighbors in Las Vegas and Phoenix. 

As always we are focused on your real estate success.

Bullhead City Real Estate Home Sales July2010 Graph

Tags: Bullhead City housing market, Bullhead City real estate, BullHead City Real Estate Market, Buying a home in Bullhead City Arizona, Fort Mohave home sales, Fort Mohave Housing Market, Mohave Valley Arizona Housing Market, selling my home in bullhead city arizona, Short sales in bullhead city

Posted on Tuesday, August 3rd, 2010 at 2:23 pm and is filed under Housing Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.