Monthly Archives: June 2010

Overland Park Kansas Real Estate Update – June 2010

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Overland Park KS
Recent 15 Days of Overland Park Kansas Market Activity

Using the past 15 days of Overland Park Kansas real estate market stats, we can calculate the absorption rate and determine there’s currently 4.9 months of inventory on the market in Overland Park. This is typical of what we’re seeing in our current real estate market and the city of Overland Park remains one of the solid real estate markets in the Kansas City metro area.  If we are to lower the months of inventory currently on the market, we’ll need a larger volume of sales to eat up the 1,100+ homes currently for sale in Overland Park.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 169 $302,732
–
Total Active Listings
 1,116
–
–
Newest Contracts Written
 88 $263,556 64
Newest Sold (Closed)
 113 $235,347 95

* 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 home in Overland Park Kansas, please contact me for assistance. I’ll get you the market stats on the specific areas of Overland Park that interest you and represent your best interests all the way through the real estate process.

View Past Real Estate Stats On Overland Park KS

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View All Listed Overland Park Kansas Homes For Sale

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Overland Park Kansas Tip of the Day…
Overland Park 50th Anniversary Celebration
Posted by Jason A. Brown

End Of First Time Home Buyer Tax Credit Taking Toll On Johnson County KS Real Estate Market

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Checking The Pulse Of The Kansas City Real Estate Market

The Home Buyer Credit ended the last day of April and since that time everyone with a stake in the real estate industry has been holding their breath in hopes that home sales would remain solid. However I’ve been concerned the past several weeks as web traffic, foot traffic and home inquiries have slowed. It was going to take a full month of market stats for me to analyze and be able to compare how our post-tax credit real estate market was doing. Well, the end of May has come, I’ve analyzed the stats,and the results aren’t  pretty.


The number of single-family Johnson County homes that went under contract in May 2010 was down roughly 60% when compared to April 2010.  The raw numbers are 1,138 homes going under contract from 4/1/10 through 4/30/10, compared to 438 homes going under contract 5/1/10 through 5/31/10. These figures give a clear indication that the end of the Home Buyer Credit is really taking a toll on the Johnson County Kansas real estate market.

I wanted to take another angle and also compare May’s (post-tax credit) market stats against a month that didn’t involve the frantic buyers trying to get under contract prior to the end of tax credit in April. So I took a look at the Johnson County Kansas market stats for May 2009 and found  781 homes went under contract. Compare this to the 438 homes that just went under contract in May 2010 and you get a huge 44% drop in contracts written. It appears, at least in the near-term, that the post-tax credit real estate market could remain a tough one for Johnson County Kansas home sellers.


Posted by Jason A. Brown