Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market

City of Lenexa KS Real Estate Update

Lenexa Kansas Real Estate Market Statistics <> 15-day Overview

* Average Newest Under Contract considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew a particular category. DOM is Days On Market. Note the date of this post as market stats become outdated. Stats may not be an exact 15 days and stats were pulled AM on 3/25/09.

In the city of Lenexa Kansas there continues to be more homes coming on the market than homes going under contract (pending) or than homes being sold (closed). This creates a further surplus of supply in Lenexa KS. Using the past 15 days as a basis for figuring the absorption rate in Lenexa, there’s just about 14 months of inventory on the market. If we use the 17 homes that went pending (rather than the 12 closings) to figure the absorption rate, then there’s a little less than 10 months of inventory on the market in Lenexa.

Keep in mind that a 15-day period is a small sampling of market activity designed to look at the what’s going on now in the current real estate market. While a 15-day period could indicate a trend it does not necessarily show a real estate markets long-term trend.

Posted by Jason A. Brown

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