We are your one-stop resource for all things Real Estate. Buyers and Sellers welcome

Welcome to Team Sponder with Desert Time Realty

We are your one-stop resource for all things Real Estate. Buyers and Sellers welcome
CALL (928) 201-8851

We are your one-stop resource for all things Real Estate. Buyers and Sellers welcome

Current Listings (Click to view)

Real Estate Stats (Click to view)

November 2023 was a slower market than the past few months for Residential Home sales in Bullhead City, Fort Mohave, and Mohave Valley, Arizona.  In November our local MLS sold 100 homes, down 16 %, or 19 fewer home sales than Oct 2023.  It took a few more days to sell these homes too, average days on market increased from 51 days in Oct to 66 days on market in November.  In our market, the average sale price in November was $280,733, down from $306,141 in October.  This does not mean home prices are falling, but in this case, because it is an average, it has fallen because we sold fewer high-end homes. Our highest price home sale was $899,000.

 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. Interest rates continue to fluctuate, but our market is still seeing a large percentage of cash buyers. November stats show 51% cash to 49% financed home purchases. Our market generally has 30-50% cash home purchases.

I you have any questions regarding our current market, please reach out! We’d love to discuss the market, and of course help you with your Real Estate concerns!

 

 

The markets are always changing

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

‘A city on the rise:’ A look at area growth

By Fred Mayson, The Daily News

BULLHEAD CITY — Between the easy winters, access to the Coronado River, and relatively low cost of living, it’s not hard to see what attracts people to the Tri-state. Although many homebuyers are looking for vacation homes — appealing to both summer and winter visitors — many are also looking to settle down for good. According to the U.S. Census, Bullhead City’s population grew by 1,808 between 2010 and 2020; estimates show it has likely grown by another 1,572 people since 2020. “Bullhead City is a city on the rise,” City Manager Toby Cotter said. Per Cotter, the city needed infrastructure — be it roads, water, or even a bridge — during the 1990s and early 2000s, but now the city is free to build up in other ways. He cited examples like the Anderson Auto Group Fieldhouse, built by the local high school district, and major improvements to local parks. And of course, there’s plenty of fun to be had like boating on the Colorado River or up in Lake Mohave, seeing entertainment at local casinos or off-roading in the desert hills. “There’s so much to do, but right now, it’s driven by the individual. The individual must make the choice to make it happen,” said Mackenzie Covert, Bullhead City public information officer. Regardless of why someone would want to come to the Tri-state, sometimes they decide to stay for good. Surprisingly, one of the biggest groups of buyers in the housing market aren’t newcomers. “Lately, it’s been first time homebuyers who are already in our area,” said Brandy Adams, 2024 president Bullhead City/Mohave Valley Association of Realtors. The typical buyer in the area is looking for a medium home between $200,000 to $300,000, Brandy said, with some (such as retirees downsizing and relocating from metropolitan areas) looking at more expensive properties. “We have two markets: our summer market and our winter market,” Adams said. “With our winter visitors, they’re tired of shoveling snow and moving to Bullhead City. Our summer market are people who live in California, and they vacation all the time in our area.” Cotter said one of Bullhead City’s housing market strengths was the variety of homes available in the area, with a mix of low, medium, and high price points. The city works with a variety of developers to ensure inventory meets demands. This can take the form of loans from the city, as is the case with two current multi-family projects. “We’re lucky that we have a couple of developers that develop homes that you might not call affordable, but they’re obtainable,” Johnny Loera, city planning, and code enforcement manager said. Cotter and Loera both cited Bullhead City’s low fees and ease of obtaining permits in comparison to other areas as a reason developers choose Bullhead City for their projects. Bullhead City is also growing commercially, having seen a net gain of 400 businesses in the past three years. And more are on the way, Cotter said. “We’ll definitely see more food concepts, restaurants. We’re also anticipating additional retail,” Cotter said. Attracting businesses to the Tri-state can sometimes be as simple as someone walking into city hall and deciding to open one, but the city actively recruits businesses as well. A major component of business recruiting is appealing to brokers for regional or national chains who are looking for new locations for businesses to expand. “Some of that starts at these retail conventions. There’s two that we go to. We have a big city booth. We talk to many developers, retail establishments, brokers, and other interested parties,” Cotter said. One convention is in San Diego during the fall while the other is in Las Vegas during the spring. Cotter said the latter was the “biggest retail gathering in the country.” However, Cotter added it could take a couple of years between initial introductions and having a business move into the area. Once a business has come into the area, staying in business is important, too. One resource for local business is Mohave Community College, which has recently been expanding its support for small businesses and the local workforce, such as through its ARIZONA@WORK partnerships, the expansion of its workforce-based training programs and opportunities. The college works closely with small businesses and local stakeholders to identify regional needs, be it in hard skills like carpentry, welding, or culinary, or soft skills like business management and communication. Looking into the future, obviously business and industry will evolve, which means new workforce skills will be required and these college partnerships will help ensure people always have access to the most modern and in-demand skills training that helps the students achieve success in their careers,” said James Jarman, executive director of college communications.

Our Team

Team Sponder with Desert Time Realty is a family team: mother, daughter and son-in-law, selling real estate in the Tri-State area including Bullhead City, Fort Mohave and Mohave Valley.

Our office is open daily and we are available 24/7. Give us a call if we’re not at the office and we’ll set-up an appointment as soon as possible.

Our Office in Bullhead City

Team Sponder with Desert Time Realty.
2461 Miracle Mile
Bullhead City, Az 86442
(928) 201-8851

Buyers & Sellers Resources

Check out our resources for buyers and sellers. From local to Statewide resource documents and links to useful sites.