Checking The Pulse Of The Kansas City Real Estate Market

The March housing market stats for Kansas have been posted by the KS Association of Realtors and they show a continuation of the improvement we saw when the February stats were released last month. State-wide, home sales rose 11.6% compared to March of 2011, following up on last month’s 18.6% surge. Nationally, home sales increased an average of a 5.9% showing that Kansas continues to far outpace much of the rest of the nation in the stability of our local housing market.

Even more impressive was the average sales price in March. Recently we’d seen home sales increasing (a great sign) but average sales prices had remained flat. But in March the continued increase in homes sales finally had an affect on sales prices with the average sales price rising an impressive 10.5% compared to March of last year. Using the March sales rate to compare against the volume of homes on the market, there’s approximately 6.8 months of real estate inventory. This is a big improvement over last month’s 8.9 months of inventory. The current amount of inventory is still a buyer’s market but pushing ever closer towards a balanced real estate market for home buyers and home sellers.

Locally in Johnson County Kansas, the March stats were also solid. There were 665 homes sold during the month and comparing that sales rate to the 3,108 homes currently for sale in Johnson County Kansas calculates to 4.7 months of inventory on the market. That amount of inventory indicates a balanced real estate market in Johnson County Kansas and that’s great news for Johnson County Kansas home sellers. It appears were headed towards a solid spring real estate market in Johnson County Kansas and many of the surrounding Kansas City metro ares that we serve.

Posted by Jason Brown