Checking The Pulse Of The Kansas City Real Estate Market

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