April Sales Report (2007)

Don't call it a comeback... no not yet anyway. There was some better news for the April sales numbers as compared to the dismal number we saw the month before. There were gains in the number of units sold in April as compared to the month before... in fact it was the best month of the year so far. However, the average sales price dropped almost $13,000.

As always... the disclaimer:

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.

As far as unit number were concerned there was a double dose of better news; total new listings were lower in April while sold units climbed to it highest peak in the year 2007. Hopefully this bodes well for prime selling season that is now under way.

Listings and sales in units chart:


While in the chart above we see the blue line and the red line close the gap a little, on the chart below you will see the opposite.

Average listings and sales averages chart:


The average sales price fell sharply, yet the asking price rose higher once again. Sellers are still hitting the market with prices that are well above the level of successful sales. Looking at the year over year data homes that sold in April of 2007 sold for $5,557 more than in April of 2006... that's good. The average asking price though shot up $14,400 in April of 2007 as compared to April of 2006... that's not so good.

Sellers are asking an average of $153 per square foot, while the buyers are buying at $128 a square foot.

2004 through 2007 unit sales chart:


Yeah, 51 sure looks a lot better than the number posted last month (31). The prime selling season last year never materialized and we can hope that this doesn't happen again. I'll be excited when we see numbers in the 90's and beyond this year, but I'll be pleased with a pattern that looks like 2004 and 2005 even if we don't match those years numbers (and I doubt we will).

2004 through 2007 average price chart:


I still see envision the average sold price dance between $190,000 and $210,000 for the rest of the year.

The average home sold in April had 3.02 bedrooms, 2 bathrooms, with a 1.78 car garage, included 1533 square feet of living space, and was built in 1996. It sold for an average of $128 per square foot of living space. It was originally listed for $214,437 and it was price reduced to $204,003 by the time it entered into a contract, and the seller settled for $17,342 less than it was originally listed for (about $9 a square foot of living space less). It took 156 days to agree to a contract and 196 total days to close escrow from the listing date.

See you next month!!