Thursday, September 18, 2014

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.