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Real Estate Market Update Bullhead City Fort Mohave, Mohave Valley Arizona


Greetings from Team Fahey!


Has this year been flying by as fast for you as it has been for us? Spring is definitely here as the desert flowers are in full bloom with help from all of the rain we have enjoyed! Michael and I took an RZR ride last weekend and boy were the poppies gorgeous!

So how is the real estate market shaping up in this new year? Most likely you have been in a bit of shock by the rapidly increasing interest rates over the last 6 months. Many of my conversations around town I’ve had are full of lots of this talk. As we Boomer and Gen-X people remember, many of our first homes were purchased at today’s rate, even higher and some of us recall refinancing when the rates dropped below 7%. Let’s hope we don’t relive that chapter again.

The Bullhead City, Fort Mohave, and Mohave Valley real estate market has been experiencing a slower pace since last year. How slow? What are you talking about? Well, January and February sales were definitely lower than post covid sales while March seems to be leveling out.

$ Average Homes Sales Price

2020 2021 2022 2023

Jan 266,626 308,480 340,219 354,322
Feb 256,582 307,046 347,317 350,327
March 272,144 336,074 356,792 321,295

# Homes Sold

2020 2021 2022 2023
Jan 87 86 93 68
Feb 79 95 111 60
March 106 148 148 113

As the interest rates have climbed and the HYPE” that was experienced during the COVID market has cooled here and around the country, the average sale price did drop slightly with March coming in at $321,295 compared to March 2023 which was at $347,317. We will know over the next few months if this trend will continue or level out.

New construction continues to be highly sought after by todays buyers. If you are looking to sell it is very important to pay close attention to the condition and updates will definitely put your property at the top of a buyer’s list. If you are considering selling, please give us a call as we are here not only to get your home SOLD but to prepare it to be sold. There is a formula to follow which will make the experience a good one.

All our best,

Michael, Petra, and Kelsey For more information visit our website at http://teamfahey.com/

Connect with us here! Website: https://www.countryranchrealty.com

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Instagram: https://www.instagram.com/petrafahey/…

#arizona #realestate #homes (choose 3)

Thanks for watching the video Real Estate Market Update March 2023

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