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|
|Ave Living Space per Square Foot||1,600|
|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%|
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|
|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%|
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.