Hello, everyone. I'm Rachel Gibson, REALTOR® here in Kingman, Arizona. Today, I'm excited to bring you a land market update. Today is August 7, 2024.

Let's dive into the numbers. Currently, we have a 12.98 Months Supply of Inventory in Kingman. This means that it would take approximately 12.98 months to sell all the homes on the market if no new listings were added. Over the last 12 months, we have seen a decrease of -7.42% in Months Supply of Inventory, indicating a more competitive market for buyers.

The List to Sold Price percentage in Kingman is 89.1%, showing that sellers are able to negotiate prices closer to their listing price. The Median days on market is 60, meaning that land is selling relatively quickly in our area.

the Median Sold Price. In Kingman, the Median Sold Price for land is $16,750. This number does not really tell you much b/c land comes in all sizes. I can tell you though in the last 30 days, Kingman sold 42 lots as low as $200 per acre up to $2600 per acre. It depends on lot size and location but you can see the price per acre is all over the map. The key indicators are does it have power, water, and paved roads? That makes all the difference!

Whether you're a buyer or a seller, it's important to stay informed about the real estate market in Kingman. If you're thinking about buying or selling land or a home, now is a great time to make a move.

Stay tuned for more updates from me, Rachel Gibson, REALTOR® in Kingman, Arizona.