Greetings, as many of you know I am Petra Fahey with Country Ranch Realty, I have been a
member of the Bullhead City Board of Realtors since 1998 selling real estate full time along the
the Colorado River here in Bullhead City. I invited our preferred lender Greg Riordan – The Riordan Group to join me. He added his insight to the coming year along with a few strategies on how to make a home purchase more affordable.
To get all the details all him direct: 928-201-1151 or email him at Squatch@legacymututal.com
Over the past decades we have seen many changes in our real estate market and fortunately the past few years have remained relatively stable and strong for the three cities along the banks of the Colorado River in Bullhead City Arizona.
So let’s talk about our local real estate market. When I talk about our local market I am
including the re sale and new construction single family homes sales for Bullhead City, Fort
Mohave and Mohave Valley. I am not including manufactured homes, condos nor multi family.
During 2024 the Bullhead City Board of Realtors reported 1071 single family home sales which
exceeded 2023 1062 home sales.
Average home sale prices in 2024 were also up. The average home sales price reporting
an average price of $364,328 while 2023 reported with average price of $363,130. With
sales and average sales price both up all indicators are showing that the market is going be
consistent in the coming year.
Months of inventory: During 2024 our market experienced approximately 4 months of inventory
which increased slightly from 2023 reporting 3 months of inventory. What does this mean? When
a market has less than 6 months of inventory it is considered a Sellers market. Although
interest rates have made it more difficult for buyers to qualify for their mortgage, the sales
continue to increase for sellers.
Although the riverfront properties are a a very small slice of our market , I’d like to mention the
them briefly. 2024 saw a sluggish market when it came to home sales With only 14 homes
selling during the year with an average sales price of $1,167,225. This number was up from 10
in 2023 with an average sales price of $1,208,680. Inventory remains low as the asking prices
have been on the rise the past few years.
New construction should also be noted as these home sales absorbed 35% of the market.
Resale homeowners are in tough competition as new homes give the sellers a run for the
buyers. Taking the time to “Get Your Home Ready” is more important than ever before.
If you are entering the selling market, please give us a call to assist you in getting your home ready. 928-715-0925.
On a last note, we are excited to announce that we have moved locations and are once again
back at 1858 Highway 95 , Bullhead City Az 86442. After many years of being out of this
location we are pleased to be back again.
Wishing you all a happy and healthy New Year,
Michael and Petra Fahey