Friday, October 23, 2009
Thursday, October 22, 2009
September Sales Report (2009)
Like a Jimmy Rollins gap shot down one run with two aboard and two outs in the bottom of the ninth inning versus... say the Dodgers in game four of the NLCS, the sales activity for the previous month was incredible.
Yes folks, this means I'm watching a bit of baseball these days (the HD tv in my living room has me mesmerized and coupled with the busy days has left me little time to blog). While I'm having fun getting ready for the next opponent for my beloved Phillies I thought I'd pass along the following market report.
I think some of the data will surprise you. The last time my reports showed this much activity in a month I was writing blog posts like this one.
So enjoy this one and I hope to catch up with some other posts about the local happenings over the weekend. Cheers folks...
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 and sales in units chart:
Oh my... the last time 82 units were sold in a month it was May of 2006... seems like oh so very long ago.
Average listings and sales averages chart:
The song remains the same for prices, no need to delve further.
2006 through 2009 unit sales chart:
Also noteworthy... sales in units in 2009 have already eclipsed the total number of all sales in 2008... with one quarter to go.
Sales in September of 2009 were up 90% compared to the previous year.
2006 through 2009 average price chart:
Prices are meandering a bit, a nice bump for traditional sellers last month though. My hats off to you.
The average price slipped 17% as compared to the September of 2008 average sales price.
2006 through 2009 median price chart:
The median price fell 22% compared to September of last year.
Final sales prices in September 2009 ranged from $18,000 to $292,000.
Average SFR statistics:
Bonus Charts:
Wrap Up:
As stated earlier... a good month for sellers (and isn't about time!!). Of course keep in mind the splits between traditional sellers and foreclosures... banks still are dominating the sales market at this time.
I was hoping to see an month like September finally after the last few very good months of activity shown in the listing and pending reports.
Not one for making bold predictions or anything so I'll just do like I do as I'm watching my beloved Phillies move on in the playoffs... I just feel at peace and have confidence that things will work themselves out. Plus it doesn't hurt when your team is defending World Champions and look better than they did the previous year. To me Kingman will always be the defending World Champion. Better days ahead.
Yes folks, this means I'm watching a bit of baseball these days (the HD tv in my living room has me mesmerized and coupled with the busy days has left me little time to blog). While I'm having fun getting ready for the next opponent for my beloved Phillies I thought I'd pass along the following market report.
I think some of the data will surprise you. The last time my reports showed this much activity in a month I was writing blog posts like this one.
So enjoy this one and I hope to catch up with some other posts about the local happenings over the weekend. Cheers folks...
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 and sales in units chart:
Oh my... the last time 82 units were sold in a month it was May of 2006... seems like oh so very long ago.Average listings and sales averages chart:
The song remains the same for prices, no need to delve further.2006 through 2009 unit sales chart:
Also noteworthy... sales in units in 2009 have already eclipsed the total number of all sales in 2008... with one quarter to go.Sales in September of 2009 were up 90% compared to the previous year.
2006 through 2009 average price chart:
Prices are meandering a bit, a nice bump for traditional sellers last month though. My hats off to you.The average price slipped 17% as compared to the September of 2008 average sales price.
2006 through 2009 median price chart:
The median price fell 22% compared to September of last year.
Final sales prices in September 2009 ranged from $18,000 to $292,000.
Average SFR statistics:
Data tables for all sales tracked in September 2009
| Item | Sep. '09 |
|---|---|
| Average Price per Unit Sold | $121,642 |
| Median Price per Unit Sold | $101,000 |
| Average Price per Square Foot | $76 |
| Item | Sep. '09 |
|---|---|
| Ave Living Space per Square Foot | 1,600 |
| Bedrooms | 3.13 |
| Bathrooms | 2.11 |
| Garage | 1.9 |
| Year Built | 1996 |
| Item | Sep. '09 |
|---|---|
| Days on Market to Contract | 84 |
| Days on Market to Close | 129 |
| Price Reductions on Market | $10,805 |
| Negotiated Price Concessions | $5,871 |
| Total Price Concessions | $16,676 |
| Total Percent Conceded | 12.06% |
Bonus Charts:
Traditional Seller vs. Bank Owned sales comparison for September 2009
| Item | Traditional Seller | Bank Owned |
|---|---|---|
| Total Units Sold in Month | 34 | 48 |
| Average Price per Unit Sold | $157,336 | $96,358 |
| Median Price per Unit Sold | $125,000 | $88,500 |
| Average Price per Square Foot | $93 | $63 |
| Item | Traditional Seller | Bank Owned |
|---|---|---|
| Ave Living Space per Square Foot | 1,698 | 1,531 |
| Bedrooms | 3.2 | 3.0 |
| Bathrooms | 2.15 | 2.1 |
| Garage | 2.2 | 1.7 |
| Year Built | 1995 | 1996 |
| Item | Traditional Seller | Bank Owned |
|---|---|---|
| Days on Market to Contract | 127 | 53 |
| Days on Market to Close | 174 | 96 |
| Price Reductions on Market | $13,676 | $8,771 |
| Negotiated Price Concessions | $10,879 | $2,325 |
| Total Price Concessions | $24,555 | $11,096 |
| Total Percent Conceded | 13.5% | 10.3% |
Wrap Up:
As stated earlier... a good month for sellers (and isn't about time!!). Of course keep in mind the splits between traditional sellers and foreclosures... banks still are dominating the sales market at this time.
I was hoping to see an month like September finally after the last few very good months of activity shown in the listing and pending reports.
Not one for making bold predictions or anything so I'll just do like I do as I'm watching my beloved Phillies move on in the playoffs... I just feel at peace and have confidence that things will work themselves out. Plus it doesn't hurt when your team is defending World Champions and look better than they did the previous year. To me Kingman will always be the defending World Champion. Better days ahead.
Friday, October 02, 2009
Thursday, October 01, 2009
September Listings Report (2009)
The good news is that the Philadelphia Phillies clinched their division last night, meaning they get to go on to the playoffs for the third straight season. Means also that my fan related blood pressure will rise for as long as they remain in the playoffs for this next month... the month of October. Really?? Already?? The time sure is flying.
Not sure if there really is any bad news in this listings report. Much of it is the same old same old as we have been accustomed to here in the Kingman area. Let's get right to it, after the disclaimer of course...
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.
The prime selling summer months are over and the numbers reflect that as the total number of new listings in the month of September is down back in the double digits again (where it really needs to be until there is more of something that looks like a balanced market). The average price is up on these new listings, which is not reflective of the market, but probably did so because there were a few high dollar listings that were put on the market in September.
All in all, much of what I expected to see for the month of September.
More of the same here for new contracts as it was for new listings above. The prime selling summer months have zipped by. Foreclosures remain the most sought after type of housing even with the sagging numbers. Banks didn't see the same sort of drop off in activity as traditional sellers did last month.
Again, typical and what could be expected for this time of year based on the data over the previous years.
So let's take a look at year over year data now...
Year over year data listings/pending contracts
Inventory is down and activity is up compared to last year... it is the best thing that can be said looking at the tables. However, inventory is still too high in all reality which most likely means that there will be more pressure on sellers to reduce price further as the market slides into the slower months of the year.
I have a bad feeling that it will feel as if we all took one step forward, but we will have to take a step and a half or two steps back.
Cheers folks.
Not sure if there really is any bad news in this listings report. Much of it is the same old same old as we have been accustomed to here in the Kingman area. Let's get right to it, after the disclaimer of course...
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.
Data tables for all new listings tracked in the month of September 2009
| Item | Total Units | Previous Month |
|---|---|---|
| Total Listings On Market | 430 | 426 |
| Total Listings Listed as Foreclosed | 63 | 62 |
| Item | Month of September | Previous Month |
|---|---|---|
| New Listings Total | 88 | 105 |
| New Listings Listed as Foreclosed | 32 | 43 |
| Average Asking Price Per Unit | $158,623 | $133,546 |
| Median Asking Price | $119,000 | $109,950 |
| Average Asking Price Per Square Foot | $96 | $84 |
| Units Re-Listed | 9 | 11 |
| Units Already Under Contract | 14 | 28 |
| Item | Month of September | Previous Month |
|---|---|---|
| Living Area Square Footage | 1,644 | 1,582 |
| Bedrooms | 3.16 | 2.97 |
| Bathrooms | 2.13 | 2.06 |
| Garage | 2.0 | 1.89 |
| Year Built | 1993 | 1991 |
| Item | Lowest | Highest |
| Listings | $29,680 | $799,900 |
The prime selling summer months are over and the numbers reflect that as the total number of new listings in the month of September is down back in the double digits again (where it really needs to be until there is more of something that looks like a balanced market). The average price is up on these new listings, which is not reflective of the market, but probably did so because there were a few high dollar listings that were put on the market in September.
All in all, much of what I expected to see for the month of September.
Data tables for all new Units under contract tracked in the month of September 2009
| Item | Total Units | Previous Month |
|---|---|---|
| Total Units Under Contract | 127 | 162 |
| Total Contracts Listed as Foreclosed | 61 | 76 |
| Item | Month of September | Previous Month |
|---|---|---|
| New Contracts Total | 62 | 84 |
| New Contracts Listed as Foreclosed | 36 | 44 |
| Average Marketing Price Per Unit | $133,579 | $118,501 |
| Median Marketing Price | $110,000 | $101,998 |
| Average Marketing Price Per Square Foot | $81 | $77 |
| Days on Market to Acquire a Contract | 92 | 94 |
| Average Marketing Price Reduction | $14,793 | $12,828 |
| Item | Month of September | Previous Month |
|---|---|---|
| Living Area Square Footage | 1,642 | 1,545 |
| Bedrooms | 3.13 | 3.02 |
| Bathrooms | 2.11 | 2.03 |
| Garage | 2.0 | 1.87 |
| Year Built | 1995 | 1993 |
| Item | Lowest | Highest |
| Listings | $24,900 | $640,000 |
More of the same here for new contracts as it was for new listings above. The prime selling summer months have zipped by. Foreclosures remain the most sought after type of housing even with the sagging numbers. Banks didn't see the same sort of drop off in activity as traditional sellers did last month.
Again, typical and what could be expected for this time of year based on the data over the previous years.
So let's take a look at year over year data now...
Year over year data listings/pending contracts
| Item | UP/DOWN | unit/dollar amount | Percentage |
|---|---|---|---|
| Total Listings | DOWN | 201 | (32%) |
| New Listings September | DOWN | 1 | (1%) |
| Average Price per New Listing | DOWN | $34,737 | (18%) |
| Median List Price | DOWN | $30,450 | (20%) |
| Item | UP/DOWN | unit/dollar amount | Percentage |
|---|---|---|---|
| Total Pending Contracts | UP | 53 | 71% |
| New Contracts for September | UP | 8 | 15% |
| Average Marketing Price per Unit | DOWN | $18,349 | (12%) |
| Median Marketing Price | DOWN | $15,000 | (12%) |
Inventory is down and activity is up compared to last year... it is the best thing that can be said looking at the tables. However, inventory is still too high in all reality which most likely means that there will be more pressure on sellers to reduce price further as the market slides into the slower months of the year.
I have a bad feeling that it will feel as if we all took one step forward, but we will have to take a step and a half or two steps back.
Cheers folks.
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