As the cold front moves through Bullhead City my cars outside temperature reads 35 degrees as I left for work this morning. Don’t think for a minute I am complaining. Our local snowbirds have been sharing stories from their home states as they come in to extend their winter rental stays for another month. I imagine the Packers and Steelers are glad they are traveling to Texas for the game this weekend. Many of you may know our my partner and the company’s broker, Michael Fahey, is a Wisconsin native and is fired up for the Super Bowl Game! Bring on the brats and cheese curds!
The local real estate market in Bullhead City, Fort Mohave and Mohave Valley came out the gate strong. The average sales price for homes was the highest since March 2010. Two riverfront sales at 9853 Dike Road ($1,000,000) and 2649 Camino Del Rio ($727,500) did contribute to the increase in the average sales price. Including these two sales, a total of 22 of the 78 sales were over $150,000.
The most promising news, were the number of homes that went under contract during January 2011. During the month, 105 homes went pending/under contract. Our local real estate market has not seen this many homes under contract in a given month since March (111) and April (105) of last year. Remember, these two months were the height of the First Time Home Buyer Tax Credit. Starting 2011 with such a strong number of homes under contract this early in the year is good news. Even more encouraging, this up tick is without the aid of government tax credits.
Although the median sales price did make a comeback this past month, home sellers would like to see the sales prices continue to improve. Over the last 12 months the median sales price has dipped 4.9%, while number of home sales have remained strong. Looking back to the fourth quarter of 2007 the number of home sales are up over 117% along with the under contract up over 95%.
Our phones are ringing at Real Living Country Ranch with buyers asking questions about homes on the market in Bullhead City, Fort Mohave and Mohave Valley. Our new Real Living sign has been installed this week and we expect to change yard signs as early as mid month. As we are always looking for new ways to market our listings for sale and are in the process of kicking it up for 2011! We are working on adding video to our marketing efforts and hope to have the first video out of production by Monday. With the help of a third party marketing company we are in the process of advertising our properties through our Real Living Country Ranch Facebook Fan page. The www.RealLivingCountryRanch.com website is live and we are creating new content and pages daily.
Thank you for your continued support as we launch into the new year!