Checking The Pulse Of The Kansas City Real Estate Market
Happy New Year 2010!
Happy New Year Kansas City!
Posted by Jason A. Brown
Happy New Year 2010, Kansas City!
Monthly Archives: December 2009
Olathe Kansas Real Estate Update – December 2009
Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Olathe KS
Recent 15 Days of Olathe Kansas Market Activity
Using the past 15 days of market stats in the chart below, the absorption rate in Olathe Kansas is currently at 8.8 months of inventory. Absorption rates consider the supply (Active listings) versus demand (average number of homes sold during a given period) in Olathe Kansas. I consider 5 to 7 months of inventory to be a neutral real estate market, so 8.8 months of inventory means Olathe KS is still very much in a Buyer’s market. The city will need to pick up the sales rate in the new year to work off 800+ homes of inventory and start stabilizing the Olathe Kansas real estate market.
Type |
# |
Average $ |
Avg DOM |
Listings Past 15 Days |
45 |
$211,714 |
– |
Total Active Listings |
806 |
– |
– |
Newest Contracts Written |
46 |
$209,600 | 94 |
Newest Sold (Closed) |
46 |
$246,308 | 96 |
* The Average $ of Newest Contracts 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 results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.
If you’re considering moving to, from or within Olathe KS, please let me know what area’s of Olathe interest you most. If you’re unsure about your options, let me know more about your price range and home style preferences and I’ll email you the Olathe home communities I think best fit your needs. I can also you send a link to ALL Olathe homes that appear to fit your search parameters. As your Olathe Kansas Realtor, we’re always working for YOU.
View Past Real Estate Stats On Olathe KS
View All Listed Olathe KS Homes For Sale
Olathe Kansas Real Estate
Olathe Kansas fact…
In 2008, Money Magazine ranked Olathe KS #11 in the Top 100 Cities To Live In The U.S. — Wikipedia
Posted by Jason A. Brown
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Should We Be Optimistic About The Kansas City Real Estate Market As We Head Into 2010?
Checking The Pulse Of The Kansas City Real Estate Market
My Kansas City Regional Association of Realtors reports more good than bad news in its look back at November’s real estate statistics. So if your cup is HALF FULL, be sure to read the rest of this paragraph. (If you’re cup is half-empty skip to paragraph 2.) You’ll be happy to hear that home sales rose nearly 62% in November of this year (2,548 sales) compared to November 2008 (1,518 sales). New home sales in November were up 16% when compared to October and up almost 52% when compared to November 2008. November existing home sales were up almost 63% compared to November 2008. The average priced home in November was right at $160,100 after seeing an average sales price of $155,000 in November 2008. The average existing home sale’s price was $148,000 in November after an average home sale’s price of $136,000 the year before. New home inventory decreased 39% from the previous November — with 2,091 current spec homes reported available. Resale inventory fell 7.4% in November — 12,568 homes compared to 13,568 in November 2008. The entire Kansas City metro area had 6.8 months of inventory on the market in November, which was a large improvement over the 7.4 months of inventory reported in October of this year.
Now, if your cup is HALF EMPTY, Kansas City Regional Association of Realtors reports that Kansas City home sales fell almost 4% when comparing November sales this year (2,454) to October’s sales (2,548). November existing home sales were down 5.5% compared to October of this year. The average new home sales price in November was around $280,000 and much below the $325,000 average new home sales price in November 2008.
With seemingly more good news than bad news in this report, could a Seller’s market be around the corner? I think we’re still at least a couple of years from serious discussions about a Seller’s Market. But who knows? Real Estate trends can move swiftly and deals of a lifetime will be made by those who take risks before the tide turns. I think for now we should set our sites on a neutral real estate market. Most experts consider 6 months of inventory to be the balance between a Buyer’s Market and a Seller’s Market. If we are to believe that then that means there’s no middle ground – meaning no neutral market is attainable. That’s why some insiders consider 5 to 7 months of inventory to be a neutral playing field. If you agree, then the 6.8 months of inventory we currently have could indicate our entrance into a neutral real estate market. We’ll have to sustain that trend to prove it’s not just a fluke but if we are indeed heading into a neutral real estate market, that would be music to many Home Seller’s ears.
Posted by Jason A. Brown
Forest Glen By The Lake Market Statistics ~ Forest Glen By The Lake Homes For Sale In Overland Park KS
Checking The Pulse Of The Kansas City Real Estate Market
Forest Glen By The Lake Real Estate Market Stats
Forest Glen By The Lake In Overland Park Kansas
Looking over the Forest Glen By The Lake market statistics going back 12 months to December 2008, 18 homes were listed and there were 13 home sales during the same time period. The average sales price in Forest Glen By The Lake was $335,308 and the subdivision saw sale’s prices ranging from $270,000 to $387,000.
Comparing the 3 Active listings in Forest Glen By The Lake to the 12-month sales rate in the community, there’s 2.8 months of inventory currently on the market. This is excellent in the current Buyer’s real estate market we’re seeing in Kansas City. The average current list price of $380,333 is a little higher than the average sales price the past year in the community ($335,308) and very close to what the most expensive home in the community sold for in the past 12 months. Still, Forest Glen By The Lake is a very popular Overland Park Kansas home community and located near amenities, shopping, restaurants and parks.
Forest Glen By The Lake In Overland Park
Forest Glen By The Lake is located in southwest Overland Park KS and is served by the Olathe School District. The majority of the homes in Forest Glen By The Lake were built from 2002 through 2005. If you’re considering purchasing or selling a home in Forest Glen By The Lake or in another area community, please contact me directly for personal real estate assistance.
View Homes For Sale in Forest Glen By The Lake
Buying A Home In Forest Glen By The Lake
Selling A Home In Forest Glen By The Lake
Posted by Jason A. Brown
Happy Holidays To All Our Past And Future Clients
Checking The Pulse Of The Kansas City Real Estate Market
Merry Christmas & Happy Holidays!
Merry Christmas and Happy Holidays Kansas City!
Your friendship and referrals have made it another great year.
Thank you!
Posted by Jason A. Brown
Leabrooke Highlands Market Statistics ~ Leabrooke Highlands Homes For Sale In Leawood KS
Checking The Pulse Of The Kansas City Real Estate Market
Leabrooke Highlands Community Real Estate Market Stats
Leabrooke Highlands Is A Subdivision In Leawood Kansas
Looking over the Leabrooke Highlands market statistics dating back to December 2008, 7 homes were put on the market and 8 homes were sold over the same year period. The average sales price in Leabrooke Highlands was $435,113 and the subdivision saw a price range variance of $365,000 to $516,227.
Comparing the 12 Active listings in Leabrooke Highlands to the 12-month sales rate in the community, there’s 18 months of inventory currently on the market. This is very high and typical of what we’re seeing in many upper bracket home communities in Leawood Kansas. The average current list price of $459,838 is reasonable though when compared to the the $435,113 average sales price seen the past year in Leabrooke Highlands. Leabrooke Highlands is a great community in the heart of Leawood Kansas. The subdivision is located near parks and dining options and just minutes from Town Center Plaza.
Leabrooke Highlands In Leawood Kansas
Leabrooke Highlands is located in southern Leawood Kansas near the 119th Street corridor. The community is served by the Blue Valley School District. Many of the homes in Leabrooke Highlands were built from 2005 to homes still under construction. If you’re considering purchasing a home in Leabrooke Highlands or another area community or in selling your current home, please contact me for assistance.
View Homes For Sale in Leabrooke Highlands
Buying A Home In Leabrooke Highlands
Selling A Home In Leabrooke Highlands
Posted by Jason A. Brown
Lenexa Kansas Real Estate Update – December 2009
Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Lenexa KS
Recent 15 Days of Lenexa Kansas Market Activity
Using the past 15 days of market stats in the chart below to figure the absorption rate in Lenexa Kansas, there’s 11 months of inventory on the market. Absorption rates tell us how much demand (Buyers) there are for our current supply of homes for sale. 11 months of inventory is very high and these conditions make it an excellent Buyer’s market in Lenexa right now. Keep in mind these absorption rates can improve quickly when using just 15 days of sales as the basis for figuring the absorption rate. For example, if there had been 24 sales instead of 12 over the past 15 days, then the absorption rate would have calculated to 5.5 months of inventory.
Type |
# |
Average $ |
Avg DOM |
Listings Past 15 Days |
21 |
$270,276 |
– |
Total Active Listings |
266 |
– |
– |
Newest Contracts Written |
19 |
$285,816 | 52 |
Newest Sold (Closed) |
12 |
$259,753 | 137 |
* The Average $ of Newest Contracts 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 results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.
If you’re considering selling or buying a Lenexa Kansas home, you’ll need more than just 15 days of market stats. You’ll also need Lenexa market stats specific to the subdivision or area that you’re considering. As a Lenexa Kansas Realtor, we work daily to help our home buyers and sellers with all their Lenexa Kansas real estate needs. Please let us know how we can assist you with your specific real estate situation.
View Past Real Estate Stats On Lenexa KS
View All Listed Lenexa Kansas Homes For Sale
Lenexa Kansas Real Estate
Lenexa Kansas fact…
The Santa Fe Trail cut through Lenexa Kansas
Posted by Jason A. Brown
FREE Kansas City Directory Assistance: Get Phone Numbers, Addresses And Maps Texted To You
Checking The Pulse Of The Kansas City Real Estate Market
You know that feeling you get when you need to get your hands on a phone number but refuse to call 411 and pay for directory assistance? Well if you haven’t heard, those days are over! It’s been more than a year since Google began offering consumers free directory assistance. Since that time the service has been improved and is now really catching on. GOOG-411 directory assistance is available from any land line or wireless phone. If you haven’t tried out GOOG-411, you’ll want to program this phone number into your phones right away. In addition to allowing you to get phone numbers for free, it also has advanced features such as the ability to send yourself a text message directly to the phone from which you’re calling.
Free Kansas City Directory Assistance
This service is no doubt dealing a hit to the bottom lines of phone service providers like AT&T, Verizon, T-Mobile, Sprint, Time Warner, Comcast, Everest and pretty much any other local or wireless service providers. But it’s a boon for consumers. GOOG-411 even includes VOICE recognition, which is great if you’re on the road and needing safe, fast and free directory assistance. Take my office location for example. If you wanted the address of my office texted to your phone AND a link to the Google Map sent along with the text, try this… Call GOOG-411 and when it asks for the city and state, say “OVERLAND PARK KS”. Then when it asks which Business, Name or Type of Service, say “JASON BROWN PREMIER REALTY GROUP”. At the next prompt, say “DETAILS”. At the next prompt pay close attention, because it doesn’t mention the mapping option. The next chance you have to speak, just say “MAP IT” — GOOG-411 will then immediately text the address and a link to the map to your phone! If you have a Blackberry and can’t remember what numbers GOOG stands for, it’s 4664. So program 1-800-466-4411 into your phone.
If you don’t need a map and simply want to use GOOG-411 to get the phone number, that’s free too — including being connected to that number. Now, if you’re like me, you’re asking yourself “why would Google offer a completely free service like this, that seemingly has no financial benefit to them?” Google employee Marissa Mayer helped answer that question by saying Google needs test audio to improve another service they’re hoping to roll out in the future — a voice-recognition-to-text search engine. So the more directory calls that are placed to GOOG-411 now (i.e. test runs of their software), the more accurate their voice recognitions software will be later. But for now, finding the closest Kansas City Target, Hy-Vee or park just got much easier and the free service is available nation-wide.
Posted by Jason A. Brown
Woodland Manor Market Statistics ~ Woodland Manor Homes For Sale In Olathe KS
Checking The Pulse Of The Kansas City Real Estate Market
Woodland Manor Community Real Estate Market Stats
Woodland Manor Is A Subdivision In Olathe KS
Looking over the Woodland Manor market statistics going back to December 2008, 7 homes were listed for sale and 7 homes closed (were sold) over the same 12-month period. The average sales price in Woodland Manor was $307,957 and the subdivision saw a sale’s price range of $287,000 to $325,000.
Comparing the 4 Active listings in Woodland Manor to the 12-month sales rate in the community, there’s 6.9 months of inventory currently on the market. This is a little high but not surprising in our current real estate market. The average current list price of $345,688 is also quite a bit higher than the $307,957 average sales price over the last year in the community. Woodland Manor is a new Olathe Kansas home community and located near many amenities, including parks, shopping and dining and is also near multiple highways that provide access to downtown Kansas City and the airport.
Woodland Manor In Olathe Kansas
Woodland Manor is located in northwest Olathe Kansas and the subdivision is served by the Olathe School District. If you’re considering buying or selling a home in Woodland Manor, please contact me to view all area homes for sale or assistance with selling your current home.
View Homes For Sale in Woodland Manor
Buying A Home In Woodland Manor
Selling A Home In Woodland Manor
Posted by Jason A. Brown
Tool For Shopping Kansas City Area Utility Service Providers, Rates and Bundles
Checking The Pulse Of The Kansas City Real Estate Market
If you’re in the process of buying a Kansas City home, you’re going to have to get your utility services set up soon. Going through that process while considering electric, gas, phone, internet, cable and other services can be a daunting task. So when I found about WhiteFence.com, I knew it could be of interest to Kansas City homebuyers. I quickly realized that it could also benefit existing homeowners just wanting an easy way to shop around and verify they’re currently getting the best utility services and rates available in their area. WhiteFence.com promotes itself as a search engine where you can search 40+ different ways for local service providers of home phone, internet, television and other utility services. I found the service to be a great way to see many of the options available in a given area and compare them either individually or as bundled packages.
Whether or not you actually use WhiteFence.com’s services is a decision you can make AFTER doing your preliminary searches. Should you decide to sign up and go the route of using WhiteFence.com as your utility setup middle man, keep in mind there could be risks involved. I don’t know what those may be but just keep in mind that you’re dealing with a middle man and not any particular utility company directly. The service is certainly intriguing though since it listed all of the major utility providers in my particular area — including, off the top of my head, AT&T, Time Warner Cable, Direct TV, Verizon, Comcast, Qwest, Dish Network, Cox, At&T U-Verse, DPI, KCPL, Kansas Gas, Atmos Energy, Embarq, SureWest, etc. I have to assume that WhiteFence.com probably benefits by getting some type of kick-back from the companies they bundle (i.e. recommend), but the prices I saw were better than what I’m currently paying for my home phone, long distance, high-speed internet and cable TV. And that’s why I recommend checking it out.
The site had added value in that it also listed security companies, financial companies and insurance companies servicing my area. Once you find the ideal package, I’d recommend then going directly to the service provider’s site to be sure a better deal isn’t available by going direct. To get going on WhiteFence.com, simply enter your address and give it a minute to run the search. Even if you get cold feet about signing up, your likely to have gotten some valuable information on your area’s utility providers, services, rates and bundles. If nothing else, maybe you could your findings directly to the particular service provider in hopes of negotiating a similar deal. Should you want to go the old-fashioned route of a static list of utility companies servicing many of our local areas, you can find that information on my Kansas City real estate site.
Posted by Jason A. Brown