Thursday, August 10, 2006

Charts for the July 2006 report

Click on any chart for a better view

Once again the numbers for last month do not show steady improvement for the SFR market here in Kingman. I was very surprised at the decreased number of sales again this month. This marks the lowest volume in SFR sales since January of 2005 (67) and the only number lower in any month was February of 2004 (49).

I'm still getting the hang of working with the charts I'm creating, if there is other information you'd like to see leave me a comment.

The information I consider reliable that I research off of my current MLS only goes back to 2004 (of course when we were ramping up on the hot market). I still believe that other than the oversupply of listings that are available on the market today, that sales volume is in line with what we saw before 2004.

On the chart to the left I highlight the highest average price of sale for each year, and as you can see the current average price is as high as it's ever been. It did dip a bit earlier in the year but now I'm seeing more of a plateau. It wouldn't surprise me if it came down a bit by the end of the year though. In any case the average seller is not losing their shirt if they are selling this year.

This chart is a sales volume chart and I highlight the high and low volume figure for each year I have researched. This should be the strongest time of the year for sales based on the past two years but so far it has not panned out that way.

Buyers certainly have the power as of this moment and must feel like the only kid at Toys r Us being allowed any one toy of their choice. You know that kid would be going up and down each and every aisle, carefully weighing his or her decision. Probably going back and forth and comparing THE toy that would make them happy. And perhaps taking much longer to decide without other kids in the store pulling toys off the shelf and heading for the cash register.

Sellers right now are the Toys r Us store manager and they want to close up and go home.

Hopefully next month will be better, and perhaps my charts will better as well. As always this whole thing is a work in progress.

The data I use to make these reports comes from the KGVAR MLS. There is a reason our Association is partnering up with our neighboring Associations to merge into one data exchange. The reason is our current MLS could be alot better than it is right now. I consider the current data a decent reflection of the market... but it could be better. This data does not consider listing or sales information from sellers who represent themselves or any other transaction that does not get published on the KGVAR MLS database. The data search area only includes SFR's in the boundaries of the city of Kingman with the exception of Valle Vista, the Hualapai Mountain area, and North Kingman where many SFR's are typically found.

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