Kingman Real Estate Market

The recovery of the national real estate market has not been realized in Kingman, or many other Secondary Markets. The Secondary Markets historically do not recover until after the Primary Markets and the primary markets of Las Vegas and Phoenix have experienced a sluggish recovery despite a market surge in 2012-2013.

Kingman has always been a value-play for retirees seeking affordable lifestyles in a rural community with access to quality medical serives, good year round weather that was within close proximity to major MSA's. However, as a result of sluggish recovery retirees are still finding good values in the primary markets of Las Vegas and Phoenix.

New Housing Demand:
False pre-peak new housing demand created an oversupply of housing that Kingman has struggled to absorb. The slow absorption rate has been compounded by weak employment growth and flat population growth. The unemployment rate in Mohave County, AZ, is 7.60%, with job growth of 0.43%. Future job growth over the next ten years is predicted to be 33.30%.

Kingman New Housing Construction

Year Built                        1980-1989      1990-1999       2000-2009       2010 or later
                                             2,045              2,932               3,992                 372

Mohave County, AZ Income and Salaries

The income per capita is $20,725, which includes all adults and children. The median household income is $39,383.

Kingman Population growth    2010         2011        2012          2013
   (within city limits)                28,676     28,014     28,314       28,393

Employment in Mohave County- Kingman and Lake Havasu is still reporting a downward trend despite a reduced labor pool and a relatively significant uptick in new construction jobs.

158.7 acres priced to sell, Kingman AZ property for sale

Nice land with beautiful vegetation. Nice base camp for hunting, quad riding or horseback riding. Great price for 158.7 acres. State land on two side of you! Easy to drive to and has a private road going into the property and a nice box canyon on the property. Plenty of flat land as well, really a unique piece of property and nice area with great views all around. Only 49,900. Contact Justin Chambers at Chambers Realty Group LLC for more information. 928-718-2020   This land is sold!

Directions:

Diamond M. Ranch road, left on un-named road to property.

The 32nd annual Laughlin River Run is April 23th through the 27th. Come see Historic US Route 66 the way it was meant to be seen by visiting Kingman. Turn back time as you ride the hills from Kingman to Oatman, AZ, cool off in the Colorado, or test lady luck at any one of the casinos located on the Laughlin strip.  This large event is located just 35 minutes from Kingman Arizona.  The river run will have hundreds of vendors and concerts such as:

• Jason Aldean @Laughlin Event Center: Thursday, April 24, 8pm - Buy Tickets
• Great White @ Riverside Resort Hotel & Casino: Friday, Saturday April 25, 26, 9pm - Box office or call 800-227-3849
• Lynyrd Skynyrd @Laughlin Event Center: Saturday, April 26, 8pm - Buy Tickets
• Los Lobos & Los Lonely Boys @ Rio Vista Outdoor Amphitheater at Harrah's Laughlin: Saturday, April 26, 8pm - tickets

Located right on the strip of Laughlin so walking from show to show or from casino to casino is easy.  The river run has brought in as many as 70,000 motorcycle enthusiasts to the area in the past and it is a great place to come and relax and enjoy the motorcycles and activities.

Many Kingman Arizona residents, such as myself, enjoy the perk of being so close to large event like the "Laughlin River Run".  Kingman residents can make the 35 minute drive for the day or stay in one of the hotels for the night at an affordable rate.  And if you own a bike it is an added perk because you get to make the ride to Laughlin and back or throughout the county enjoying route 66.

If you are visiting for the Laughlin River Run and you are interested in Kingman Arizona Real estate or feel free to contact us by phone at 928-718-2020, email at info@chambersrealtygroup.com or visit our website to view Bullhead city or Kingman Arizona homes for sale at www.chambersrealtygroup.com 

Land Sales are Picking up

After years and years of disappointing sales we are finally seeing land sales picking up. Right now there are currently 12 pending sales in Golden Valley meaning they are under contract. However there are 505 active listings as well. The larger the parcel the more likely it is that it will sell. There is not a scarcity of 1.17 and 2.35 acre parcels unless they have power, water and pavement. If all of those exists we are able to sell between 12-15,000 for a 1.17 acre parcel in Golden Valley. 20 and 40 acre parcels are more scarce and more desirable. These properties are usually sold owner carry right now. There are not many cash buyers for the area. We have had 20 land sales in Golden Valley from January 1st to March 31st so far.

In Kingman there are 826 vacant land listings for sale. 26 are in escrow and are pending. These again are larger parcels outside of town or city lots in town that builders are looking to build on. Speculation buyers just don't exist for our area at this time. 36 parcels of land have closed this year from January 1st to March 31st.

Everyday I have at least three sellers of land call me with only one or two land buyers a week. Therefore in this market it is very important to have your agent run comparable sales and price the land accordingly. Very often I will sell a piece of land for 25,000 when the property next to it is listed at 100,000. It's great to be optimistic about the sale but buyers are very smart and will research, research and research and they won't overpay in this market. It is unrealistic to expect 4 times what your neighbor just sold theirs for.