Single Family home sales and foreclosure data for Bullhead City as reported to Western Arizona REALTOR® Data Exchange
No Summers of Love in 2006, 2007
May is usually one of the strongest months of the year for home sales in Bullhead City. As the residential market began to fall in 2006, June sales slipped after a typically high May, and July followed suit by kicking off the second half of the year with fewer sales than any month in the first half.
2007 followed a similar pattern. May was the highest selling month, June sales declined, and again July sales were lower than any month in the first half.
And now for something completely different: Bullhead City residential market heats up this summer
As I reported last month, Bullhead City Single Family home sales were up 50% in June this year, while residential sales overall were up 30%. This in stark contrast to 2006 and 2007 when June sales declined 14% and 21%, respectively. Also unlike the last two years when July numbers were even lower than June, this year home sales in July were up another 20% from June.
Foreclosures back in play in July
Foreclosure sales jumped back up in July, with 42.5% of all Single Family homes sold in Bullhead City being bank owned properties. Here is a breakdown of how foreclosure sales stacked up against the rest of the Single Family market:
| # Sold | Avg Sale Price | Price/Square Foot | Days on Market | |
| Foreclosures | 17 | $163,347 | $103.99 | 115 |
| All others | 22 | $230,928 | $136.60 | 229 |
| Total | 40 | $202,206 | $122.74 | 181 |
34 of the 108 new Single Family listings to hit the market in July were foreclosures, compared to only 19 of 101 in June. This means more competition for all sellers. Here’s the scoop on how foreclosures compare with the rest of the Single Family homes on the market:
| # For Sale | Avg List Price | Price/Square Foot | Days on Market | |
| Foreclosures | 71 | $167,996 | $106.03 | 69 |
| All Others | 490 | $360,402 | $174.38 | 171 |
| Total | 561 | $336,051 | $165.73 | 159 |
With 13% of all houses for sale in Bullhead City, and over 40% of all houses sold in July, clearly foreclosures have and will continue to make their mark (and put pressure on prices). 29% of the pending Single Family sales at the end of July were foreclosures, down slightly from 35% at the end of June. With the influx of new foreclosure listings in July, it will be interesting to see how sellers in the rest of the market respond to the competition.
Related links:
Detailed 2nd quarter statistics for Bullhead City, including a break down by property type and comparisons to 1st quarter of 2008 and 2nd quarter 2007.
July Sales Report for Bullhead City, Fort Mohave, and Mohave Valley
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