I participate on an investor site called InvestmentRiches.com and every month I do a report on statistics of the Kingman market. I will share this information with you today. My search only includes area's inside the city limits and for single family residence's (SFR's).
I found that there was 513 SFR's on the market currently which is up from the number I posted in December that was 362. The interesting item I found is that of those listings, 206 of them are brand new construction homes. I can't remember a time in our city's past when there was that many new homes under construction and on the market.
The good news is that there will be more choice for the residential buyers and investors, the kind of choice they simply did not have last year.
For the month of March, there was 159 new listings that hit the market and again around 40% of them were new homes.
67 SFR's in Kingman sold in the month of March, while 58 homes went under contract and are pending to close escrow.
The average list price for March was $214,208 and the average sold price was $204, 149.
Sellers in this market are going to have to have some patience this year, and they are going to have to realize that the price will not continue to rise at the rate is was last year. But no worries for sellers, prices won't collapse.
Enjoy those numbers and look for updates in the future.
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