Yuma home sales in May up 25 percent

Signs that the local economy is improving, at least for the real estate market, are making local Realtors and agents happy. In May, 98 single-family homes were sold in Yuma, an increase of 20 homes over the March and April sales of 78 homes each, according to Michael Hall, broker at ERA Matt Fischer Realtor.

  Inventory of available homes has also fallen to a low not seen in 18 months or longer, according to the report. Hall calculated the inventory of homes priced under $149,999 to be a 3.9-month supply. In the $150,000-$249,999 price range, there was a 4.9-month supply of homes, and in the $250,000-$399,999 price category the supply was 7.9 months.

  Another sign of stabilization is the variance between listing price and sale price. In May, the average list price of a home in Yuma was $175,842. The average sales price was $170,331, which is 96.9 percent of the list price. Prices have fallen to the level that buyers are now competing to buy homes; some homes were on the market for just one to three days before being sold.

  In May, 41 homes sold priced at $149,999 and under. There were 161 active listings, and days on the market averaged 107. Another 82 homes were under contract to be sold.

  In the $150,000-$249,999 range, 42 homes were sold. Active listings numbered 205. Average
days on the market were 138, and 67 homes were pending sale.

  Twenty-four homes sold in the $250,000-$399,999 price category, with another 24 under contract. Average days on the market were 139, and 111 listings were active.

  At $400,000 plus, there were 41 active listings. One home sold in May, while four more had sales pending.

  Hall calculates sales of single-family homes with a Yuma address each month. Depending on the day the report is filed, some numbers could vary.