Checking The Pulse Of The Kansas City Real Estate Market

The final August stats recently release by my association of Realtors showed a huge improvement in the real estate market during the month of August. Home sales rose 21% during the month compared to August 2010’s sales. The impressive raw numbers included 2,789 homes sold state-wide in August compared to the 2,247 homes sold in August 2010. The national real estate market impressed as well with home sales rising 18.6% in August compared to August 2010.

Factoring the 19,464 homes for sale in Kansas at the end of August against a sales rate of 2,789 homes sold (in August), we find there was 7.0 months of inventory on the market in Kansas at the end of the August reporting period. Though 7.0 months of inventory indicates a buyer’s market, the impressive August sales rate absolutely put a dent in the volume of inventory on the market. Less competition on the market is music to home seller’s ears and so are rising average sales prices. The average home price was $159,082 across the state, a 2.7% increase from August 2010.  

Locally here in Johnson County Kansas, the August stats look even better. There were 737 homes sold in Johnson County Kansas during the month of August. Comparing this sales rate to the current 3,782 homes for sale in Johnson County Kansas, we find 5.1 months of inventory in Johnson County Kansas. That’s considered a balanced real estate market and there’s no doubt that the Johnson County Kansas real estate market remains a solid option for investing in real estate.

Posted by Jason Brown