More Of The Same For Kansas City Home Sellers As We Head Into Winter

Checking The Pulse Of The Kansas City Real Estate Market

The most recent stats as reported by the Kansas Association of Realtors (KAR) covers October’s real estate market across the state of Kansas. And it was more of the same as home sales fell more than 35% in October 2010 when compared to October 2009. The actual numbers were a gross drop from 2,949 sales October last year to 1,896 sales this October. In a rare occurence, the Kansas real estate market fared worse than the national real estate market, which saw about a 26% decrease.

The months of inventory on the market has crept up to 11.2 months of inventory. Months of inventory in this case is calculated using the number of October home sales and dividing that into the 21,199 homes that were on the market at the time this report was produced. Average sales prices in October dropped 2.4% in Kansas.

Looking at our local Johnson County Kansas real estate market, we had 421 homes sold in October. This was down significantly from the 829 homes sold in October 2009. Using this October’s sale’s rate and comparing it to the 3,725 homes for sale in Johnson County, there’s 8.9 months of inventory on the market. This clearly indicates a continuation of the buyer’s market in Johnson County Kansas and surrounding areas.