Mohave County, AZ – Real Estate Market Data – October 2015

Property Sales
October Property sales were 285, up 5.9% from 269 in October of 2014 and 4.0% lower than the 297 sales last month. October 2015 sales were at their highest level compared to October of 2014 and 2013. October YTD sales of 3,118 are running 9.5% ahead of last year’s year-to-date sales of 2,848.

Prices
The Median Sales Price in October was $163,900, down 0.7% from $165,000 in October of 2014 and down 0.7% from $165,000 last month. The Average Sales Price in October was $199,343, up 1.1% from $197,084 in October of 2014 and down 1.9% from $203,277 last month. October 2015 ASP was at the highest level compared to October of 2014 and 2013.

Inventory & MSI
The Total Inventory of Properties available for sale as of October was 1,768, up 0.7% from 1,756 last month and down 53.1% from 3,772 in October of last year. October 2015 Inventory was at its lowest level compared with October of 2014 and 2013.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2015 MSI of 6.2 months was at its lowest level compared with October of 2014 and 2013.

Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for October was 70, down 16.7% from 84 days last month and down 23.9% from 92 days in October of last year. The October 2015 DOM was at its lowest level compared with October of 2014 and 2013.

Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The October 2015 Selling Price per Square Foot of $115 was down 1.5% from $117 last month and up 5.3% from 109 in October of last year.

Selling Price vs Original List Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The October 2015 Selling Price vs Original List Price of 97.0% was up from 96.2% last month and up from 95.8% in October of last year.

Click here to access the full report – Market Action Report Mohave County

To search for real estate in Mohave County, go to www.ColdwellBankerHomes.com/AZ/Mohave-County

To search for real estate throughout Arizona, go to www.ColdwellBankerHomes.com/Arizona

Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.

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Coldwell Banker Residential Brokerage provides comprehensive real estate and relocation services for Greater Phoenix, Greater Tucson, Prescott and Lake Havasu City. Our AZrelocation Blog will provide you with extensive market data -- both on the metro and city levels -- along with relocation trends, area highlights and other valuable information.
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