Monthly Archives: November 2011

Johnson County Kansas Real Estate Update – November 2011

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Real Estate Statistics On Johnson County Kansas
15 Day Glance At The Johnson County KS Real Estate Market

After calculating the absorption rate over the past 15 days in Johnson County Kansas, we find the area has 10.2 months of inventory currently on the market. This amount of inventory is considered a buyer’s market. When we looked at Johnson County’s real estate stats in April, we found 7.1 months of inventory at that time. There’s fewer homes on the market now than there was in April, so the increase can be completely attributed to a slower sales rate — during the past 15 days 167 homes were sold (closed), while during the 15-day period back in April 274 homes sold.

Type # Average $ Avg DOM
Listings Past 15 Days 367 $287,296 –
Total Active Listings 3,499 – –
Newest Contracts Written 264 $238,285 136
Newest Sold (Closed) 167 $254,518 151

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The average priced new listing to come on the market the past 15 days was in line with the average sales price over the same period. This will provide many Johnson County home buyers with excellent options to consider. The volume of homes that went under contract the past 15 days was an impressive 264 and if all those homes make it closing, it should go a long way towards reducing the months of inventory of homes on the market.

If you are making plans to buy or sell a home in Johnson County Kansas, my group will guide you through the home buying or home selling process. Here’s info on how we can assist you with selling a Johnson County Kansas home and with buying a Johnson County Kansas home.  Please contact us with questions!

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Plan For At Least A 3.5% Down Payment And 580 Credit Score To Buy A Kansas City Home

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Guidelines definitely vary from lender to lender but a typical baseline for securing a home loan will be having at least a 3.5% down payment and a 580 minimum credit score. FHA loans require a 3.5% down payment and conventional loans (i.e. loans backed by Fannie Mae and Freddie Mac) require a 5% down payment. A typical FHA loan requires a credit score of at least 580, however home buyers with at least a 500 credit score can obtain a FHA loan IF they have a 10% down payment. Most conventional loans will require a minimum 660 credit score.


The maximum loan FHA will allow varies from one U.S. county to another and to buy a home in Kansas City, Johnson County Kansas, Overland Park and the surrounding metro area, the maximum FHA loan permitted is $271,050. The maximum Fannie Mae conventional loan is $625,500, with loans over $417,000 being subject to more stringent loan requirements than homes below $417,000. At this time, both FHA loans and conventional loans allow a seller to pay up to 3% of a buyer’s allowable closing costs. But with today’s crazy markets, the rules are changing by the day…

The rules may have changed by the time you read this post. It’s a lot for even a seasoned Kansas City real estate agent to stay on top of, so take my advice and contact a knowledgeable LOCAL lender/loan officer who can guide you through the mortgage loan process. Need a great recommendation? This is one of the important aspects of the real estate process we help Kansas City home buyers with on a daily basis. Getting with a great loan officer is more important than ever because the rate of loans not closing is increasing across the U.S. and overlooking the smallest of details can doom your real estate transaction.

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Brighton’s Landing Subdivision Stats ~ Brighton’s Landing Homes For Sale In Olathe Kansas

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Brighton’s Landing Community Market Stats
Brighton’s Landing Is A Subdivision In Olathe KS

Looking over the Brighton’s Landing market stats dating back a year to November 2010, 30 homes were listed for sale and 16 homes were Sold (closed) over the same 12-month period. The average sales price in Brighton’s Landing was $327,000 and the home community had sales prices that ranged from a low of $225,000 to a high of $385,000.

Comparing the 13 Active homes for sale in Brighton’s Landing to the past year’s sales rate in the home community, there’s 9.8 months of inventory on the market. This amount of inventory indicates a buyer’s market in the area. The average current list price of $325,504 is lower than the average sales price the past year, providing home buyers some excellent options to consider in the subdivision. Brighton’s Landing is a popular Olathe Kansas home community and located near parks, dining and shopping amenities and near access to K-7 and K-10 highways in Olathe.

Brighton's Landing In Olathe Kansas

Brighton’s Landing In Olathe Kansas

Brighton’s Landing is located in northwest Olathe Kansas and served by the Olathe School District. There’s about 300 homes in Brighton’s Landing and many of the homes in the community were built from 2004 to homes currently under construction in the community. If you’re planning to buy or sell a home in Brighton’s Landing or in another community in the surrounding Olathe Kansas area, my group will guide you through the real estate process.

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Veteran’s Day 2011 — Take A Moment To Honor A Veteran

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It’s Veteran’s Day and here’s a few great stats that I found eye opening when I saw them today at the Christian Science Monitor…

World War II (1941 to 1945)
16 million served
2.1 million alive today

Korean War (1950 to 1953)
5.7 million served
2.7 million alive today

Vietnam War (1964 to 1975)
8.8 million served
7.6 million alive today

Operation Desert Shield/Desert Storm (1990 to 1991)
2.3 million served
2.2 million alive today

Since 1775, more than 40 million Americans have served in our United States armed forces… 23 million are living today and more than 17 million of them served in one or more conflicts. You’re sure to see one of them walking around today and when you do, I hope you’ll thank them. I know I will.


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Nottingham Forest South Subdivision Stats ~ Nottingham Forest South Homes For Sale In Overland park KS

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Nottingham Forest South Community Market Stats
Nottingham Forest South Is A Subdivision In Overland Park KS

Looking over the Nottingham Forest South market stats dating back a year to November 2010, 17 homes were listed for sale and 11 homes were Sold (closed) over the same 12-month period. The average sales price in Nottingham Forest South was $395,359 and the home community had sales prices that ranged from a low of $262,000 to a high of $500,000.

Comparing the 6 Active homes for sale in Nottingham Forest South to the past year’s sales rate in the home community, there’s 6.6 months of inventory on the market. This amount of inventory indicates a slight buyer’s market in the area. The average current list price of $393,150 is in line with the average sales price the past year in the community, which makes for some excellent options for home buyers to consider. Nottingham Forest South is a popular Overland Park Kansas home community and located near parks, dining and shopping amenities and near access to 69 Highway in Overland Park.

Nottingham Forest South

Nottingham Forest South

Nottingham Forest South is located in southern Overland Park Kansas and served by the Blue Valley School District. There’s approximately 429 homes in Nottingham Forest South and many of the homes in the community were built from 1987 to 1992. If you are planning to buy or sell a home in Nottingham Forest South or in another community in the surrounding Overland Park area, my group is ready to assist you.

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Leawood Kansas Real Estate Update – November 2011

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Real Estate Statistics On Leawood Kansas
15 Day Glance At The Leawood KS Real Estate Market

After calculating the absorption rate over the past 15 days in Leawood Kansas, we find the city has 6.6 months of inventory currently on the market. This is quite an improvement for the Leawood real estate market since the 12.1 months of inventory when we checked the Leawood real estate stats in September. The improvement is mostly due to a reduction down to 239 homes for sale in Leawood, which is down from 325 homes for sale back in September.

Type # Average $ Avg DOM
Listings Past 15 Days 26 $454,514 –
Total Active Listings 239 – –
Newest Contracts Written 20 $390,580 147
Newest Sold (Closed) 18 $331,107 118

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The last 18 homes that sold (closed) in Leawood did so in less than 4 months time, which is also an improvement over the nearly 6 months it was taking to sell homes to sell back in September. If you are making plans to buy or sell a home in Leawood Kansas, my group looks forward to guiding you through the process. Here’s information on how we can assist you with selling a Leawood home or buying a Leawood home. Please contact us with any questions you may have!

Leawood Kansas Relocation Information

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Get Kansas City Real Estate Market Updates Via Twitter

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Want to track the Kansas City real estate market with updates via Twitter? We make it easy to keep up with our local real estate market and we provide you with detailed market updates, stats and analysis in a condensed format. We include links to the real estate you decide is important and beneficial to you. We’re constantly working to keep you updated on the real estate markets in Kansas City, Johnson County Kansas, Overland Park, Olathe, Lenexa, Leawood, Shawnee and the surrounding metro areas. So Follow Me on Twitter!


At 700+ tweets and growing, The Jason Brown Group is dedicated to staying on top of the Kansas City real estate and sharing our knowledge of the real estate market with you. The real estate information we provide will help you make the most informed real estate decisions. We don’t spin the market stats and news, we give the same information to you that we want when buying and selling our own homes. In a seller’s market, buyers struggled to get a good deal and in today’s buyer’s market, sellers are struggling to get a good deal. It doesn’t matter whether you’re a buyer or a seller, when it’s time to make a real estate decision, my group looks forward to getting you the best deal in today’s market.


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Bridlewood Downs Subdivision Stats ~ Bridlewood Downs Homes For Sale In Olathe Kansas

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Bridlewood Downs Community Market Stats
Bridlewood Downs Is A Subdivision In Olathe KS

Looking over the Bridlewood Downs market stats dating back a year to November 2010, 18 homes were listed for sale and 12 homes were Sold (closed) over the same 12-month period. The average sales price in Bridlewood Downs was $223,583 and the home community had sales prices that ranged from a low of $200,000 to a high of $247,500.

Comparing the 6 Active homes for sale in Bridlewood Downs to the past year’s sales rate in the home community, there’s 6.0 months of inventory on the market. This amount of inventory indicates a slight buyer’s market in the area. The average current list price of $221,192 is lower than the average sales price the past year in the community, providing area home buyers some excellent options to consider. Bridlewood Downs is a popular Olathe Kansas home community and located near parks, dining and shopping amenities and near access to K-7 Highway in Olathe.

Bridlewood Downs In Olathe Kansas

Bridlewood Downs In Olathe Kansas

Bridlewood Downs is located in western Olathe Kansas and served by the Olathe School District. There’s approximately 244 homes in Bridlewood Downs and many of the homes in the community were built from 1998 to 2003. If you are planning to buy or sell a home in Bridlewood Downs or in another community in the surrounding Olathe Kansas area, my group looks forward to assisting you.

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Volume Of Home Sales In Kansas During September Outpaces Rest Of The U.S.

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The final September stats released by the Kansas Association of Realtors shows another huge improvement for the state of Kansas real estate market. Home sales rose 12.2% during the month compared to September of 2010. The volume of home sales across the state went from 2,205 last September to 2,473 in September of this year. The increase in sales is helping eat up housing inventory, thus reducing the supply of homes. That is key factor needed to stabilize house prices. Still, despite the increase in homes sales, the average sales price during the month of September did fall 0.4%. But this easily outpaced the rest of the U.S., where average sales price fell 3.5%.

Factoring in the 18,812 homes for sale in Kansas at the end of September against a sales rate of 2,473 homes sold (in September), we find 7.6 months of inventory on the market in Kansas at the end of September. This amount of inventory indicates a continuation of the buyer’s market in Kansas, making it a great time for buyers to get a great deal when buying a home. 

In Johnson County Kansas, the September stats look even better than across the state. 638 homes were sold in Johnson County Kansas during September and factoring that against the 3,597 homes currently for sale in Johnson County Kansas, it calculates to 5.6 months of inventory on the market in Johnson County. This amount of inventory is considered a balanced real estate market, meaning Johnson County continues to be one of the strongest real estate markets in the Kansas City area and across the state of Kansas. 


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Brookhighland Community Stats ~ Brookhighland Homes For Sale In Overland Park Kansas

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Brookhighland Community Market Stats
Brookhighland Is A Subdivision In Overland Park KS

Looking over the Brookhighland market stats dating back a year to November 2010, 10 homes were listed for sale and 4 homes were Sold (closed) over the same 12-month period. The average sales price in Brookhighland was $525,000 and the home community had sales prices that ranged from a low of $475,000 to a high of $630,000.

Comparing the 4 Active homes for sale in Brookhighland to the past year’s sales rate in the home community, there’s 12.0 months of inventory on the market. This amount of inventory indicates a buyer’s market in the Brookhighland area. The average current list price of $543,463 is in line with average sales prices the past year in the community. This provides area home buyers with some excellent options to consider. Brookhighland is a popular Overland Park Kansas home community and located near parks, dining and shopping amenities and near access to 69 Highway in Overland Park.

Brookhighland In Overland Park Kansas

Brookhighland In Overland Park Kansas

Brookhighland is located in southern Overland Park Kansas and served by the Blue Valley School District. There’s approximately 88 homes in Brookhighland and many of the homes in the community were built from 2000 to 2004. If you are planning to buy or sell a home in Brookhighland or in another community in the surrounding Overland Park area, my group can provide you expert guidance through the real estate process.

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