I started collecting data from our old MLS system back as my Association was thinking about moving to a regional MLS, about 14 months ago. While collecting this data, I was also learning how to use some of the features of Microsoft Excel to help organize the findings. So there was all this great data (in my opinion) and what was I going to do with it was my question. Blogging helped answer the question. So that is the back-story.
So here is the latest installment of my monthly sales reports, I do hope you continue to enjoy.
Disclaimer... all data compiled for this report comes from the WARDEX Data Exchange and does not include any sales activity from outside that resource. All research is done only on single family homes and there is no inclusion of modular homes, commercial properties, or vacant land. The geographical area researched includes; all areas within the boundaries of the city of Kingman, north Kingman, the Hualapai Mountain area, and the Valle Vista subdivisions. Click here to see maps of the included area's.
Okay, let's get started. First thing that jumped out at me this month was a rebounding number of units sold after two dramatic declines in September and October. Throughout the latter part of October and all through November, it did seem like there was more activity from buyers and the report only verified my feeling. I still can't put a finger on this market however, and nobody should take the results of November to mean that the market has bottomed out. This is still the slower season for sales and we are still lagging behind previous years activity, which you will see later. However, the best feeling I get is that sales headed back up while new listings remained lower than they were for most of the year. Still not balanced by a long shot though as far as existing inventory goes, but maybe the surge is slowing.
No real news in the average price paid for homes. Sale prices have been holding steady overall throughout the year. Sellers should have a pretty clear picture now at what point the buyers will become buyers that are ready willing and able regarding prices. The listing average still tells me that many sellers didn't get the memo. I'm showing these charts to potential selling clients when I meet with them to try to get their business. Some would be clients don't like the data I show them and some have not hired me because another agent or broker are telling them that the seller should be able to sell for more... more than what the market happens to bear. I'm betting that I get a few phone calls as those potential listings expire with other agents and brokers.
As you see in the chart below, the Kingman market still lags behind the record breaking years of 2004 and 2005, but the month of November actually stacks up nicely as compared to those previous years. It's only been since April or May that I could have said this.
The last chart belows clearly shows that the market has maintained a stable average sales price now for a year. I don't have good original listing data from '04 and '05, but no matter how much the sellers pressed for higher prices this year the buyers didn't respond and were able to hold steady.
Last month, the average home sold has 3.03 bedrooms, 1.65 bathrooms, and a garage with 1.74 parking spaces. It was also built in 1994 and has 1600 square feet of living space.
So there loyal readers, more charts to click on. I hope you enjoy. Just one more report for 2006, look for that and a year wrap up on the market in mid January. Thanks again for the interest.
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