Area housing sales back to pre-recession pace
BULLHEAD CITY — Housing will always be a necessity for people whether they are single, have a family or living with a roommate.
Housing will always be an important part of people’s daily lives.
According to the Mohave County Economic Development Plan, the median single-family home value for Bullhead City right is around $191,900 compared to the national average of $222,000. The median condo value is around $132,900 in Bullhead City, compared to the national average of $232,000.
“Based on the numbers since 2013, the houses are selling at the same level as they were in 2006 before the big dip,” said Karen Summitt, 2019 president for Bullhead City/Mohave Valley Association of Realtors. “The prices have started to rise steadily but have maintained so far.”
The Mohave County Economic Development Plansaid that for a median two-bedroom home, the value is around $126,500 in Bullhead City; the national average is about $171,700; a three-bedroom home value is around 179,800 locally; the national average around $216,000;and a four-bedroom home value is around $345,800 locally with the national median around $343,000.
“The trend in the housing markets looks like it’s going to be steady with the current prices and won’t have a big dip,” said Summitt. “Our inventory is low, meaning that not a lot of houses are on sale.”
Summitt said there are several reasons why there are more people moving into the area.
“The new Walmart that was built in Fort Mohave brought in a lot of small business to the area and Dot Foods also hired a lot of people,” said Summitt. “We have good weather and lots of opportunities for recreation whether it’s water sports, driving to the mountains or having fun in the desert. The casinos also bring in lots of people and since we are close to California and Nevada, people come to live here because they can go back to visit their families anytime they want.”
Even though there are more people coming into the area, Summitt said she doesn’t see a negative reaction from the housing market such as the one that is happening in Silicon Valley.
“We still have homes available in the area (Fort Mohave, Mohave Valley, Topock) as well as vacant land that people buy to build their houses,” said Summitt. “In the Bay Area there is no vacant land and that is why their housing prices have skyrocketed over the last couple of years. The good thing about the area is that there are different types of houses and different price points for people to look at. We have prices in the area from $50,000 to $70,000 and other houses which are in the millions. So it’s a great place for first-time buyers to become homeowners.”
Regarding first-time buyers, Summitt has a couple of suggestions that those looking for a home should take into consideration.
“It’s important to make sure that you are prepared to buy a house and speaking to a lender will help with that,” said Summitt. “The lender will get them pre-approved and they will help them get their ducks all in a row so the homebuyers won’t be surprised by a fee that comes up. Also, it’s important to have a list and to share that list upfront with their Realtor so that they know where to look. For example, are they looking for a good school district? Are they looking for a community with certain amenities? Is it important to have a 1,500 square foot home? Things like that.”