March Listings Report (2007)

I am not going to comment much during this installment of the listings report. Instead after you review this report, please take a look at previous months reports. The song remains the same, if you know what I mean.

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.

Listings:

Today total listings available for single family residence equals 714 (up from 681 on February 1). The rate of new listings taken per day in March was 4.8 (ooh boy, to be a real estate sign maker these days, it was 3.6 a day in February).

There were 150 new listings taken in March (only 102 in February). The average asking price for the new listings is $258,530 (while last month is was $246,578). The median asking price is $195,900 (down a bit from $210,000 previously). Okay, here is a comment... 23 of these new listings were priced over $350,000 and the highest priced was $2.9 million (I spoke about this listing here, and how I could save you six figures on this purchase). I'm sure these helped push the average up.

The average newly listed home has 3.14 bedrooms, 2.17 baths, a 1.94 car garage, with 1661 square feet of living space and was built in 1995. The average time on market equals 52 days, and 23 of these 'new' listings were actually re-listed.

Of the new listings in March, 5 already have taken a contract.

Units under contract:

55 homes entered into contracts in the month of March (up from 48 the previous month). The average asking price for homes that received contracts was $204,850 (down from $210,598 last month) and the median asking price for February was $189,900 (down from last months $199,500 figure). These price figures have gone back and forth over the last few months. Steady as she goes.

The average home that went under contract in March has 3.13 bedrooms, 2 baths, a 1.8 car garage, with 1589 square feet of living space, and was built in 1994. It was also priced $12,408 higher when it first was listed as compared to its current asking price (the average price concession was $9,000 last month).

Conclusions:

Mr. and Mrs. Seller, meet Mr. and Mrs. Buyer. No, the Buyers' don't understand what language you are speaking at the moment and there is no real motivation for them to learn your language. Instead it will behoove you to learn the dialects and inflections of Mr. and Mrs. Buyer. I can help you, I speak Buyer pretty well. Mr. and Mrs. Seller, you also have to understand that right now there aren't many fine folks like the Buyers' around right now. The sooner you can clearly communicate effectively with the Buyers', the sooner you will sell your home. For free lessons on these communication skills see practically any post on this blog with 'Seller' in the title.