Trusted local news leader for Kingman, Arizona & Mohave County
Fri, Jan. 17

Home sales down

Home resales are down for the first quarter of this year compared with last year, but average prices now are higher so the gross dollar volume for sales remains about the same, said Debbie Coleman, executive officer of the Kingman-Golden Valley Association of Realtors.

The Kingman-Golden Valley Association of Realtors is a multiple listing service, which represents 111 agents in 19 offices.

Coleman said 84 single-family homes sold in the first three months of 2001 in the area.

During the same period of 2000, 106 homes acquired new owners.

May was a good month with 38 single-family homes selling this year, compared with 42 last year, Coleman said.

"Right now, there are 302 single-family resale homes on the market," she said.

"The median price for them is $89,900."

There also are 256 mobile homes, condominiums, duplexes or other single-family homes that are not stick built (constructed on a foundation and cannot be moved) on the market, bringing the total number of homes available to over 500, Coleman said.

Realtors do not like to use the term "average" when discussing home prices, preferring "median" instead, she said.

"If we sell a $700,000 home and a $16,000 repossession, that repo messes up the numbers," Coleman said.

"We take a median where we throw out the high and low in order to get a more accurate figure."

While the number of people moving into the Kingman area is steady, four-bedroom homes are not the top seller in resales, she said.

Three-bedroom, two-bath, two-car garage units are the No.

1 resale homes, she said.

Roughly 60 percent of homes that were resold in the area between Jan.

1 and May 31, 101 in all, are 10 years of age or older, Coleman said.

The number of resale homes in the 5-10 year age bracket was 36 and there were 34 units sold that are less than 5 years old, she said.

Those older homes are in good neighborhoods and most have landscaping pleasing to the eye, she said.

Dan Kresila, president of the Kingman-Golden Valley Association of Realtors, said the present market for resale homes in the area is slow in comparison with the same period last year.

"It's hard to judge Kingman, though," Kresila said.

"Sometimes it depends on the weather, sometimes on the vacation mood of people, and I'm sure what's happening in California has a bearing on sales here.

"People are wondering about energy prices and (utilities) that may go broke."

Location is the most important factor in a buyer purchasing a resale home, Kresila said.

But the buyer also is concerned with the economic growth of Kingman, including where the community is now and where it may be headed, he said.

The city of Kingman Building Department issued 61 permits for residential remodeling during the first five months of this year, records clerk Dawn Williams said.

Those permits hold a dollar value of $640,268.

There were 54 permits issued for the same period last year.

They were valued at $542,393, she said.

Coleman said her association will begin keeping demographics in October that will indicate the age of homebuyers, where they move here from and their occupations.

"I think home sales will be slower during the second half of this year," Coleman said.

"I don't see a recession, but home sales probably will be down over the next few years.

"However, commercial land sales are up.

Hopefully, that will bring more jobs to the area."

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