Bullhead City, Fort Mohave and Mohave Valley, Arizona real estate markets closed 101 single family homes for the month of June. Median sales price slid back to $115000. Since 73% of the homes sold in the month of June were under $150,000 this is not too surprising. The market enjoyed two riverfront home closings in June, which Real Living Country Ranch agents brought the buyers, and an additional 7 homes selling for over $200,000.
The month’s supply of single family housing inventory continues to drop. During June 2010, the Bullhead City, Fort Mohave and Mohave Valley Arizona experienced 5.0 months of inventory, while this year our local market is at 3.2 months of inventory, the lowest in years. The number of days on the market dropped from 144 in May to 84 during June. I believe this is due to the small number of short sale closing that occurred during the month. Unlike the last two months where short sales claimed 10% of the sales, May short sale numbers dropped to 4% of the market. (Short sales take longer to close than the standard sale)
With the inventory dropping and the sales remaining strong it is clear for many, Bullhead City, Fort Mohave and Mohave Valley is the place to buy real estate.
The 4th of July holiday weekend has started the month out strong. Our phones are ringing at Real Living Country Ranch. Multiple offers continue to reign supreme for properties that are priced right. Visit www.bhcrei.com
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