Selling Your Bullhead City Fort Mohave Az Home Market Update
2010 has begun and Bullhead City Arizona real estate market continues to move in the right direction for recovery. Although the sales are remaining strong, we saw the median sales price drop to $102,000 in January for single family homes in Bullhead City, Fort Mohave and Mohave Valley compared to $124,000 January 2009. Part of the reason for the drop is because there are more first time buyers in the market.
There were 80 homes sold in January 2010 in the Bullhead City Fort Mohave area compared to the 63 the year before (36 home sales in January 08). This means the market is coming back but it still has a ways to go. The number of homes going under contract last month was also up (128) compared to a year before (84).
The bulks (86%) of the homes sold were under the $150,000 price tag. That’s the perfect price range to the first time buyers trying to take advantage of the $8,000 tax credit. We expect to see this range heat up even more as we get closer to the April 2010 deadline (to be under contract) and June deadline (to have closed).
Days on the market remains steady as January average days on the market was 138 compared to January 2010 of 128. The number of days a home sits on the market before going under contract has improved. The average last month was 95 compared to the year before of 152. Keep in mind that the coming tax credit deadline is having a positive impact on the days on market.
Bad news, homes price over $150,000 are seeing longer days on the market and fewer sales than homes under$150,000. As the market continues to recover across the United States we remain hopeful that we will begin to see a return of buyers to Bullhead City Fort Mohave Arizona ready to purchase homes in the higher price ranges.
February 2010 has started strong. Our phones are ringing at Country Ranch Real Estate with buyers asking questions about homes on the market in Bullhead City, Fort Mohave and Mohave Valley Arizona. With buyers searching for homes to take advantage of the tax credit, and the deadline fast approaching, this should rise seller’s hopes that offer they are looking for may be on the way.
Feel free to call, text or email me with any questions regarding Bullhead City Fort Mohave Real Estate.