Checking The Pulse Of The Kansas City Real Estate Market

The most recently released real estate market stats for the state of Kansas show further improvements in average sales prices and volume of home sold across the state. Home sales rose 0.2% in September compared with September 2011 and the modest increase follows up last month’s impressive 12.3% increase in volume of homes sold.

Average home sales price rose 6.6% compared to September of last year. This is a huge jump in sales prices and follows up a 3.8% improvement last month. Comparing September sales rate against the volume of homes for sale, there’s 6.5 months of inventory on the market. The stats a month ago showed Kansas with 5.2 months of real estate inventory. Both represent a balanced real estate market in the state of Kansas and that makes seven straight months that Kansas has been in a balanced market. The recent increase in months of inventory is worth keeping an eye on as this months jump in inventory nearly pushed the state out of a balanced real estate market and into a buyer’s market.

The local real estate market here in Johnson County KS is exceptionally strong. Home sales have remained firm while new listings have hit the market at a reasonable pace in recent months. In September there were 662 homes sold and using that sales rate (compared to the current volume of homes for sale in Johnson County Kansas), there’s 3.9 months of inventory on the market. This is a jump from last months 3.0 months of inventory yet still indicates a continuation of the buyer’s market in Johnson County Kansas.  

Posted by Jason Brown