| How’s the Market Doing? Here’s a recap of the most recent Real Estate Market Statistics & Trends in Bullhead City / Ft. Mohave: CURRENT MARKET STATISTICS Residential Properties Currently Listed for Sale = 530 * Homes Sold in past 12 months = 1324 (average 110 per month) * Homes Sold in past 6 months = 584 (average 97 per month) * Homes Sold Last Month = 88 * Average Interest Rate 30 Yr. Fixed (Last Month) = 3.92% Based on the current inventory of homes listed for sale compared to the rate at which they have been sold over the past six months, we have approximately a 5 month supply on hand. Home sale activity in our local market remains brisk, especially in the price brackets fitting the budget of both local residents and retirees. Site-built single family homes priced under $200,000 sell quickly and that price range has just under a 3 month inventory supply on hand. MARKET TRENDS & HISTORICAL DATA Homes Sold This Year: January - 2012 = 88 * Average days on market = 147 * Median Sales Price = $86,500 * Average Sales Price = $103,451 * Average Sales Price/List Price Ratio = 94.2% * Average Interest Rate 30 Yr. Fixed = 3.92% Home Sales Last Year: January – 2011 = 99 * Average days on market = 138 * Median Sales Price = $90,500 * Average Sales Price = $116,597 * Average Sales Price/List Price Ratio = 94.4% * Average Interest Rate 30 Yr. Fixed = 4.76% Home Sales 2 Years Ago: January - 2010 = 90 * Average days on market = 132 * Median Sales Price = $106,000 * Average Sales Price = $128,251 * Average Sales Price/List Price Ratio = 94.8% * Average Interest Rate 30 Yr. Fixed = 5.03% Overall results for January seem a bit soft compared to the past 6 months, however I cannot draw too many conclusions. These results are for only 1 month and seem appropriately soft for the season and the beginning of an Election Year. The inventory supply indicates we are back to a balanced market, and actually are now in a Sellers’ Market in certain price ranges (homes under $200,000). Keeping the value of long term real estate investments in proper perspective, take a look at these numbers from 2002: Home Sales 10 Years Ago: January - 2002 = 112 * Average days on market = 127 * Median Sales Price = $82,500 * Average Sales Price = $96,917 * Average Sales Price/List Price Ratio = 97.0% * Average Interest Rate 30 Yr. Fixed = 7.00% Don’t forget – if you or anyone you know needs real estate services to buy or sell, here in Bullhead City or anywhere else, contact me and I’ll get to work for you !! The highest compliment that I can receive is a referral to one of your friends, relatives or business associates. A referral is when you send someone you care about to someone you trust. Thank you for your trust and confidence. (Data reflects residential sales reported to Western Arizona REALTOR® Data Exchange as of 02/03/2012. Interest rate information from Freddie Mac.) |
| John R. Hastings Associate Broker Licensed in Arizona |
| Real Estate Market Statistics |
| Primary Mortgage Market Survey® data provided by Freddie Mac. Updated weekly on Thursdays. |
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Updated 02/03/12
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| Click Here to See Current Supply & Demand by Property Type & Price Range |
| A GREAT READ . . . . Interest Rate Rule of Thumb |
