Checking The Pulse Of The Kansas City Real Estate Market

The most recently released state-wide real estate housing stats (December’s stats) show the state of Kansas had continued improvements in both average sales prices and volume of homes sold (closed). Home sales increased 15.9% in December compared to December 2011. This is another huge jump in sales and follows up last month’s 23.2% increase.

Average home sale price rose 6.5% compared to December of last year. This jump in homes sold follows up last month’s 5.0% increase. December’s sales rate compared to the volume of homes for sale calculates to 5.3 months of inventory on the market. This is a slight improvement on last month’s 5.4 months of inventory. Both calculations represent a balanced real estate market and show a further trend towards a seller’s market. This is the tenth straight month that Kansas has been in a balanced real estate market.

Locally here in Johnson County Kansas, the real estate market remains solid and in the past 30 days there were 408 homes were sold. Comparing this sales rate against the current volume of homes for sale, there’s 5.0 months of inventory on the market. This is higher than last months 3.7 months of inventory yet not surprising given the homes sale stats include the holiday season. The current amount of inventory in Johnson County represents a balanced market and very nearly a seller’s market. 

Posted by Jason Brown