Checking The Pulse Of The Kansas City Real Estate Market
The most recent Kansas Association of Realtors real estate stats (for the month of May) indicates further strengthening of the state-wide housing market. Home sales volume continue to rise, as does resulting home sale prices. During the month of May in Kansas, homes sales increased 14.2% compared to May of last year. This follows up last months reported 7.8% increase in home sales.
At last months check, the state was in a balanced real estate market but nearing a seller’s market (with 5.2 months of inventory). This month there is 4.0 months of inventory on the market and thus the state has moved into a seller’s market. The rise in home sale prices was just as impressive with average sale prices rising 9.5% compared to May of last year. This follows up last month’s huge 13.7% increase in sale prices in Kansas.
Locally in the Johnson County Kansas area, the real estate market continues to heavily favor home sellers. Over the past month there were 933 homes sold (closed) and comparing this sales rate against the current volume of homes for sale, it calculates to 2.6 months of inventory on the market. This is an increase over last month’s 2.1 months of inventory but still represents a very strong seller’s real estate market in Johnson County Kansas.
Posted by Jason Brown
