Checking The Pulse Of The Kansas City Real Estate Market

The most recently released real estate market stats (covering the month of November) show the state of Kansas had further improvements in both average sales prices and volume of home sold across the state. The volume of homes sold rose 23.2% in November in comparison to November 2011. This is another big jump that follows up last month’s 20.5% increase in the number of homes sold state-wide in Kansas.

Average home sale price rose 5.0% compared to November of last year. This jump in home sale prices follows up last month’s 3.8% increase. Comparing November’s sales rate against the volume of homes for sale, there’s 5.4 months of inventory on the market — an improvement on last month’s 5.6 months of inventory. Both calculations represent a balanced real estate market and trending towards a seller’s market. This makes nine straight months that Kansas has been in a balanced market.

Here locally in Johnson County Kansas, the real estate market remains in a seller’s market. In the past 30 days there were 554  homes sold in Johnson County Kansas. Comparing this sales rate against the current volume of homes for sale, there’s 3.7 months of inventory on the market. This is identical to the 3.7 months of inventory at last month’s check. All of this is excellent news for our local real estate market. 

Posted by Jason Brown