2021 was an awesome year!

As we have all heard by now, 2021 was an awesome year for Real Estate, especially if you were a seller!  The marker we use when working on statistics is Residential Homes in Bullhead City, Fort Mohave and Mohave Valley Arizona.   In 2021, our local MLS sold 2375 homes, up 18 %, or 361 home sales over 2020.  Those homes sold more quickly too.  Average days on market dropped from 64 days in 2020 to 36 in 2021.  Because our listing inventory was so low, and interest rates have also been low, average size homes priced well sold as quickly as they hit the market!  So just what is average?  In our market, the average sale price in 2021 was $267,535.00, up from $228,023.00 in 2020.  That’s a 17% increase!

 My residential statistics include site built single family homes and manufactured homes.  About 1/3 of our home sales are manufactured homes.  The last census data from Bullhead City also points to a similar breakdown of site built and manufactured homes.

 According to a recent Mohave Valley Daily News article, Bullhead City’s City Manager Toby Cotter reports our community is placed in a very advantageous position to grow.  The most recent census put the BHC population at 42,000.  BHC water supply can support 110,000 residents.  There are currently more than 100,000 lots in permitting or plat review with the city.  3,000 of those lots are in planning phases, and 2,000 units are being planned for multifamily use.

The city’s general plan for the state lands near Miracle Mile and Oatman Road include 250 single family lots and a bevy of multifamily lots, predicted to be more than 500 total units with a range of pricing.

“We keep encouraging our developers to bring affordable housing to our community,” Cotter said. He predicted the process will take years, with an estimated 400 to 500 units being built annually.

Team Sponder with Desert Time Realty