Tag Archives: Kansas City Real Estate Market

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Checking The Pulse Of The Kansas City Real Estate Market

Kansas City Realtor

Jason A. Brown
Jason A. Brown
Jason Brown Premier Realty Group
Keller Williams Realty Partners, Inc.
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Kansas City Area Second Quarter Market Update Shows Promise For Kansas City Area Home Sellers

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Checking The Pulse Of The Kansas City Real Estate Market

My National Association of Realtors has released the second quarter 2010 market statistics for the Kansas City metro area. The local trend shows that home prices have rising 4% when compared to the second quarter of 2009. The report gives us a look back nine years and I found it interesting to note that second quarter sales prices in the Kansas City area are down $7,100 on average compared to three years ago, but still up $5,900 over the past seven years.


So the average buyer who bought in 2003 is still ahead after the market downturn, but the average buyer who bought in 2007 is, well, wishing they’d bought in 2003. There’s a ton of other interesting information in the NAR report, including local employment growth at a rate better than most other markets and construction being on the rise – albeit it modestly – which indicates local new home inventories have stabilized.

The report also shows the Kansas City real estate market is one of the most affordable housing markets in the U.S. and there’s also details showing a decrease in the volume of loan delinquencies, thus suggesting area foreclosure rates should decrease in the future. Be sure to click the graph above to check out the entire report on the Kansas City metro area. Be patient after clicking on the graph as it’s a large PDF file and could take a minute to open.

Posted by Jason A. Brown

Holy Smokes, April Home Sales Rose 42.5% In Kansas

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Checking The Pulse Of The Kansas City Real Estate Market

I about fell out of my chair when I saw that Kansas home sales jumped over 40% in April. That is incredible and it was a great month for home sales state-wide. Of course the jump is directly related to the tax credit that ended at the end of April, but you can’t argue with the results. A 42.5% jump from April 2009 over April 2010 certainly helped to work a lot of inventory of the market… and the less homes there are for sale, the quicker we’ll achieve a stable Kansas City real estate market.


When you compare the 42.5% jump to the national average of 22.8%, it’s even more impressive. The raw numbers, as reported by my Kansas Association of Realtors (KAR), shows there were 3,242 homes sold this April, compared to 2,275 in April 2009. KAR further reports that, even after the great month of April, there’s still 5.7 months of inventory on the market. But this is MUCH better than the 7.6 months of inventory we had at the end of March.

The average sales price in the state of Kansas was just over $155,000 and a several thousand dollar improvement over April 2009’s average sale price. Taking an isolated at Overland Park Kansas, there were 275 home sales in April of this year, a 66% increase over April 2009. The average sale’s price was stagnant however, with a fall of about a half percent this April over last April.


Posted by Jason A. Brown

The Good, The Bad And The Ugly Real Estate News In Kansas City

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Checking The Pulse Of The Kansas City Real Estate Market

The good news with the Kansas City Real estate market is that Freddie Mac reports that average 30 year interest rates dipped to 4.97% nationally last week. Interest rates below 5% are absolutely amazing and too many of us take today’s low interest rates for granted. One day, poof, they’ll be gone.  I’m going to do a post sometime soon that shows just how much a borrower  saves by purchasing with a 5% interest versus the 9% rate I had on my first home in the early 1990’s. The difference is truly astounding. Anyhow, so what other good news is there out there, other than the home buyer tax credit (that is keeping home sales moving along with smoke and mirrors)?  I had to dig a little but I found that existing home sales in the Kansas City metro rose around 8% in January (compared to 1/09). That’s certainly good news but comes with the caveat that it’s being compared against a month that was just plain horrid.

The Good, The Bad & The Ugly

So moving on to the bad news, my National Association of Realtors reports this week that existing homes sales fell an unexpected 7.2% in January (compared to 1/09).  The sales rate in January was the lowest since June of last year. Ouch. And now for the ugly news… New home construction sales nationally fell 6.1% in January (compared to 1/09) to reach the lowest number of home sales since records started being kept back in 1963. Local new home sales news was bad too, with the number of new home sales falling 28% in January (compared to 1/09).  In case you couldn’t tell, it’s still a Buyer’s market out there. I can’t wait until this market turns and I get to write hundreds of posts about how great the market is. Ah, the good old days…

Posted by Jason A. Brown