Third Quarter 2010 Market Update
The local real estate market in Bullhead City, Fort Mohave and Mohave Valley Arizona continues to bump along toward recovery. Looking back to the third quarter 2007 we definitely have a brighter picture as third quarter 2010 home sales are up 87%, pending sales up 106% and the inventory of homes for sale is down 49%. Although the past 12 months of single family homes sales have slowed slightly for 2010, the median sales price appears to be leveling out. The under $150,000 price range remains the sweet spot as 78% of the single family home sales are in that range. Average sales price increased to $120,531 up from $110,010 in October. Days on the market increased to 141 which is not too surprising as short sales claimed 10% of the market during November. This is good news for sellers trying to avoid foreclosure.
We want to thank you for your continued support and referral business you have sent our way. Without your support and referrals our business would not enjoy the level of success we have. We wish you and your families a Merry Christmas, Happy Holidays and a prosperous New Year!