Monthly Archives: June 2011

Cedar Creek North Shore Estates Market Stats ~ Cedar Creek Homes For Sale In Olathe KS

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North Shore Estates of Cedar Creek Real Estate Market Stats
Cedar Creek Is A Home Community In Olathe KS

Looking over the North Shore Estates of Cedar Creek market stats dating back a year to June 2010, 8 homes were put on the market and 3 homes were sold over the same year period. The average sales price in Cedar Creek North Shore Estates was $850,000 and the home community had sales prices ranging from $575,000 to $1,125,000.

Comparing the 5 Active homes for sale in Cedar Creek North Shore Estates to the 12-month sales rate in the subdivision, there’s 20 months of inventory currently on the market. It remains a buyer’s market in the North Shore Estates area. The average current list price of $1,388,990 is higher than the average sales price the past year in the North Shore Estates portion of the Cedar Creek community. The North Shore Estates area of Cedar Creek is a popular Olathe Kansas area and located near parks, shopping and dining amenities and near access to K-10 and K-7 highways in Olathe.

North Shore Estates Of Cedar Creek

North Shore Estates Of Cedar Creek

Cedar Creek is located in northwest Olathe Kansas and served by the Olathe School District. Homes in the North Shore Estate portion of Cedar Creek were built 1999 to homes still under construction in the area. If you are considering buying or selling a home in North Shore Estates of Cedar Creek or in the surrounding Cedar Creek or Olathe Kansas area, we look forward to assisting you.

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 Posted by Jason Brown

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Olathe Kansas Real Estate Update – June 2011

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Real Estate Statistics On Olathe Kansas
15 Day Glance At The Olathe KS Real Estate Market

After calculating the absorption rate over the past 15 days in Olathe Kansas, we find the city has 6.8 months of inventory currently on the market. This amount of inventory indicates it remains a buyer’s market in Olathe Kansas. But these figures are quite an improvement on the 8.3 months of inventory when found when we took at look at Olathe’s May stats. The average price of the new listings to come on the market the past 15 days ($213,199) was almost exactly the same as the average sales price  ($213,627) over the same period. This is an indication that home sellers are pricing their homes realistically.

Type # Average $ Avg DOM
Listings Past 15 Days 123 $213,199 –
Total Active Listings 978 – –
Newest Contracts Written 110 $208,899 132
Newest Sold (Closed) 72 $213,627 138

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The last 72 homes that sold (closed) in Olathe took an average of 138 days to sell. This amount of time is looking typical in Olathe as the 110 homes that went under contract during the same period did so in about the same amount of time. If you’re planning to purchase or sell a home in Olathe Kansas, we can guide you through the real estate process. Here’s information on how we assist Olathe home sellers and how we assist Olathe home buyers. Please contact us with any questions you may have and we look forward to assisting you.

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Posted by Jason Brown

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Johnson County Kansas Real Estate Market Outpacing State Of Kansas Overall Stats

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My National Association of Realtors (NAR) report on May’s real estate market stats indicates that home sale fell more than 20% compared to last May. That may seem startling but we were still in the home tax credit era at that time last year, so you’d expect stats from a year ago to be better. NAR points out that May 2011 home stats compare favorably to May 2009 home stats (when there was no tax credit in effect skewing the numbers). The actual sales figures for 2011 compared to 2010 were 2,760 to  3,484 homes sold, respectfully. Nationally home sales fell 15%, May 2011 compared to May 2010.


When we compare the 20,261 homes for sale in Kansas (at the end of May) to the 2,760 homes sold during the month of May, we find there was 7.3 months of inventory on the market in the state of Kansas at the end of May. The average sales price in May of this year was $156,432, which is virtually identical to the $156,521 in May 2010. It’s apparent that Kansas home sellers continue to face a buyer’s market this summer.

Locally in Johnson County Kansas, the market continues to stabilize. 704 homes were sold in Johnson County Kansas this May. Compare that monthly sales rate to the 4,148 homes currently for sale in Johnson County Kansas and we find there’s 5.9 months of inventory in Johnson County. That amount of inventory is considered a stable real estate and could be a very good sign for Johnson County home sellers.


Posted by Jason Brown

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Amesbury Lake Community Stats ~ Brookhaven, Windsor Ridge and Grayson Mills In Overland Park

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Amesbury Lake Real Estate Market Stats
Amesbury Lake including Brookhaven, Windsor Ridge and Grayson Mills

Looking over the Amesbury Lake market stats dating back a year to June 2010, 22 homes were put on the market and 18 homes were sold over the same year period. The average sales price overall in Amesbury Lake was $283,542 and the home community had sales prices ranging from $225,000 to $343,000. The average sales price in the Grayson Mills area was $298,167, the average sales price in the Windsor Ridge area was $256,188 and the average sales price in the Brookhaven area of Amesbury Lake was $289,500.

Comparing the 4 Active homes for sale overall in Amesbury Lake to the 12-month sales rate in the subdivision, there’s 2.7 months of inventory currently on the market. This is excellent and that amount of inventory is indicative of a seller’s market in this area of Overland Park. The average current list price of $324,750 is higher than the average sales price the past year in the community. Amesbury Lake is a popular Overland Park Kansas subdivision and located near parks, shopping and dining amenities.

Amesbury Lake In Overland Park Kansas

Amesbury Lake In Overland Park Kansas

Amesbury Lake is located in southern Overland Park Kansas and served by the Blue Valley School District. Many of the homes in the community were built from 1997 through 2002. If you’re considering buying or selling a home in Amesbury Lake or in the surrounding Overland Park area, please let us now how we can assist you.

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Cedar Brooke Community Market Stats ~ Cedar Brooke Homes For Sale In Olathe KS

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Cedar Brooke Real Estate Market Stats
Cedar Brooke Is A Home Community In Olathe KS

Looking over the Cedar Brooke market stats dating back a year to June 2010, 17 homes were put on the market and 18 homes were sold over the same year period. The average sales price in Cedar Brooke was $186,801 and the home community had sale prices ranging from $165,000 to $220,000.

Comparing the 5 Active homes for sale in Cedar Brooke to the 12-month sales rate in the subdivision, there’s 3.3 months of inventory currently on the market. This is excellent and indicative of a rare seller’s market. The average current list price of $186,837 is perfectly in line with the average sales price in the community the past 12 months, so there are some excellent options for area home buyers to consider. Cedar Brooke is a popular Olathe Kansas subdivision and located near parks, shopping and dining amenities and near access to K-7 and K-10 highways in Olathe.

Cedar Brooke In Olathe Kansas

Cedar Brooke In Olathe Kansas

Cedar Brooke is located in northwest Olathe Kansas and served by the Olathe School District. There’s approximately 157 homes in Cedar Brooke and many of the homes in the community were built from 1998 through 2004. If you are considering buying or selling a home in Cedar Brooke or in the surrounding Olathe KS area, we’d look forward to assisting you.

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Leawood Kansas Real Estate Update – June 2011

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Real Estate Statistics On Leawood Kansas
15 Day Glance At The Leawood KS Real Estate Market

After calculating the absorption rate over the past 15 days in Leawood Kansas, we find the city has 9.2 months of inventory currently on the market. This is an improvement on the more than 13 months of inventory when we took a look at Leawood’s stats in May, but it continues to be a buyer’s market in Leawood. The average sale price the past 15 days ($458,495) compared well against the average priced new listing in Leawood ($437,407) over the same period.

Type # Average $ Avg DOM
Listings Past 15 Days 60 $473,407 –
Total Active Listings 349 – –
Newest Contracts Written 34 $448,782 122
Newest Sold (Closed) 19 $458,495 185

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The days on market is high in Leawood as the average listing took more than 6 months to sell. If you are making plans to buy or sell a home in Leawood Kansas, we’d look forward to representing your best interests through the process. Here’s more details about how we can assist you with selling your Leawood area home or with buying a Leawood area home and please contact us with any questions you may have. We look forward to assisting you with buying or selling a home in Leawood or the surrounding area.

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Posted by Jason Brown

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Potential FHA Loan Changes Would Have A Drastic Effect On Kansas City Home Buyers… And Home Sellers

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Mortgage industry consultant Brian Chappelle estimates that FORTY PERCENT of home buyers would fall out of the market-place if FHA raises the minimum down payment requirement from 3.5% to 5%. I just don’t see how we can afford to implement these types of drastic changes with a real estate market – and economy – already on edge. The lack of buyer demand is already harming property values across the country and imagine what would happen if 40% of home buyers disappeared due to sweeping FHA mortgage changes.


Increasing the minimum down payment from 3.5% to 5% on a $200,000 Johnson County Kansas home, would increase the home buyer’s down payment from $7,000 to $10,000. That’s a very significant THREE THOUSAND dollars and anyone thinking the potential FHA changes would be insignificant should think again.  $3,000 is guaranteed to run many home buyers we’re working with right now out of buying home. That will mean less demand for area home sellers and we all know what that means — lower sales prices.  These changes are very likely to happen though as we work to lessen the government’s involvement in the housing market. I hope there’s someone with a good head on their shoulders suggesting they SLOWLY (incrementally?) implement these types of changes. If not, it’s going to be a bumpy ride. 


Posted by Jason Brown

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Greystone South Community Market Stats ~ Greystone South Homes For Sale In Lenexa KS

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Greystone South Real Estate Market Stats
Greystone South Is A Home Community In Lenexa KS

Looking over the Greystone South market stats dating back a year to June 2010, 15 homes were put on the market and 8 homes were sold over the same year period. The average sales price in Greystone South was $221,625 and the home community had sales prices ranging from $155,000 to $303,000.

Comparing the 5 Active homes for sale in Greystone South to the 12-month sales rate in the subdivision, there’s 7.5 months of inventory currently on the market. This amount of inventory indicates a buyer’s market in Greystone South. The average current list price of $282,480 is higher than the average sales price the past year ($221,625) in the community. Greystone South is a popular Lenexa Kansas subdivision and located near parks, shopping and dining amenities and near access to I-435 & I-35 highways in Lenexa.

Greystone South In Lenexa Kansas

Greystone South In Lenexa Kansas

Greystone South is located in eastern Lenexa Kansas and served by the Shawnee Mission School District. Many of the homes in the community were built from 1976 to 1987. If you are considering buying or selling a home in Greystone South or in the surrounding Lenexa area, we look forward to assisting you. Please let us know how we can help you achieve YOUR real estate goals!

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Wilshire Farms Community Market Stats ~ Wilshire Farms Homes For Sale In Overland Park KS

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Wilshire Farms Real Estate Market Stats
Wilshire Farms Is A Home Community In Overland Park KS

Looking over the Wilshire Farms market stats dating back a year to June 2010, 86 homes were put on the market and 72 homes were sold over the same year period. The average sales price in Wilshire Farms was $505,076 and the home community had sales prices ranging from $357,685 to $899,000.

Comparing the 25 Active homes for sale in Wilshire Farms to the 12-month sales rate in the subdivision, there’s 4.2 months of inventory currently on the market. This amount of inventory is considered a stable real estate market. The average current list price of $454,492 is actually well below the average sales price the past year in the community thus giving homes buyers looking in the area some great choices to consider. Wilshire Farms is a popular Overland Park Kansas subdivision and located near parks, shopping and dining amenities and near access to 69 Highway in Overland Park.

Wilshire Farms In Overland Park KS

Wilshire Farms In Overland Park KS

Wilshire Farms is located in southern Overland Park Kansas and served by the Blue Valley School District. Once completed, the home community will have more than 350 homes and age of homes range from homes built in 2005 to homes currently under construction. If you’re considering buying or selling a home in Wilshire Farms or in the surrounding Overland Park area, we look forward to assisting you. Please contact us with any questions you may have!

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Overland Park Kansas Real Estate Update – June 2011

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Real Estate Statistics On Overland Park Kansas
15 Day Glance At The Overland Park KS Real Estate Market

After calculating the absorption rate over the past 15 days in Overland Park Kansas, we find the city has 5.1 months of inventory currently on the market. This is solid and a huge improvement over the 9.1 months of inventory when we took a look at Overland Park’s May real estate stats. 5.1 months of inventory is considered a stable real estate market and Overland Park continues to be one of the metro areas most stable real estate markets. The number of homes that went pending over the same 15-day period was also solid and it appears we’ll continue to eat into the 1,100+ homes for sale in Overland Park at a solid pace.

Type # Average $ Avg DOM
Listings Past 15 Days 163 $285,463 –
Total Active Listings 1,116 – –
Newest Contracts Written 108 $284,145 113
Newest Sold (Closed) 109 $273,068 121

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

It’s taking about four months for the average Overland Park home to sell. Home sellers who put their homes on the market the past 15 days appear to be pricing their homes realistically… The average new list price was about $285,000, while the average sales price over the same period was about $273,000.

If you’re planning a move that involves buying or selling an Overland Park KS home, we are able to provide you expert guidance with your home sale or purchase. Here’s information on how we can assist you with selling your Overland Park home or with buying an Overland Park home. Please contact us with any questions you have and we look forward to assisting you!

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Posted by Jason Brown

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