Checking The Pulse Of The Kansas City Real Estate Market
The May housing market stats for Kansas, as recently posted by Kansas Association of Realtors, indicate continued improvements in both the home sales rate and home sales prices. State-wide, home sales rose a whopping 13.2% in comparison to May 2011. This follows up a 3.2% jump when checked last month. Nationally, home sales increased an average of a 9.6% compared to May 2011, showing further improvement in the housing market.
Average sales prices rose 2.8% after last month’s 8.7% jump. Using May’s sales rate compared against the volume of homes for sale, there’s 5.6 months of inventory on the market. The stats a month ago showed Kansas with 6.4 months of real estate inventory, so this is the second straight month that Kansas has been in a balanced real estate market.
Locally in the Johnson County KS area, the market stats are even more impressive. In May there were 942 homes sold during the month. Comparing that sales rate to the current volume of homes for sale in Johnson County Kansas, there’s 3.3 months of inventory on the market. This is an improvement over last months already impressive 4.1 months of inventory on the market. This is all good news for Johnson County Kansas home sellers as we head into the heart of summer.
Posted by Jason Brown