Checking The Pulse Of The Kansas City Real Estate Market

The final September stats released by the Kansas Association of Realtors shows another huge improvement for the state of Kansas real estate market. Home sales rose 12.2% during the month compared to September of 2010. The volume of home sales across the state went from 2,205 last September to 2,473 in September of this year. The increase in sales is helping eat up housing inventory, thus reducing the supply of homes. That is key factor needed to stabilize house prices. Still, despite the increase in homes sales, the average sales price during the month of September did fall 0.4%. But this easily outpaced the rest of the U.S., where average sales price fell 3.5%.

Factoring in the 18,812 homes for sale in Kansas at the end of September against a sales rate of 2,473 homes sold (in September), we find 7.6 months of inventory on the market in Kansas at the end of September. This amount of inventory indicates a continuation of the buyer’s market in Kansas, making it a great time for buyers to get a great deal when buying a home. 

In Johnson County Kansas, the September stats look even better than across the state. 638 homes were sold in Johnson County Kansas during September and factoring that against the 3,597 homes currently for sale in Johnson County Kansas, it calculates to 5.6 months of inventory on the market in Johnson County. This amount of inventory is considered a balanced real estate market, meaning Johnson County continues to be one of the strongest real estate markets in the Kansas City area and across the state of Kansas. 

Posted by Jason Brown