Challenging Real Estate Market Continues Into The Fall For Kansas City Home Sellers

Checking The Pulse Of The Kansas City Real Estate Market

The most recent stats reported by the Kansas Association of Realtors (KAR) were September’s market stats. The results were not favorable for home sellers across the state of Kansas. KAR reports that home sales fell more than 22% in September when compared to September 2009. This was a huge drop from around 2,765 reported sales last year to 2,100 this year. The Kansas real estate market was slightly worse than the national average, which saw about a 19% drop in sales compared to last September.

The months of inventory on the market has crept up to 9.9 months of inventory. Months of inventory in this case is calculated using the number of September home sales and dividing that into the 21,148 homes that were on the market at the time this report was produced. Average sales prices held pretty steady with a 0.4% decline from $151,383 in September (compared to August 2010). Nationally, home prices decreased by 2.4% overall between September 2009 and September 2010.

Looking at our local Johnson County Kansas real estate market, we had 503 homes sold in September. This was down about 1/3 from the 750 homes sold in September 2009. Using this September’s sold stats and comparing it to the 4,130 homes for sale in Johnson County, there’s currently 8.2 months of inventory on the market. It’s clearly a buyer’s market in Johnson County Kansas and I continue to see amazing deals all over the Johnson County Kansas area.