Category Archives: City Market Stats

Kansas City Market Statistics, Kansas City Real Estate Market Update

Prairie Village Kansas Real Estate Update – August 2011

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Checking The Pulse Of The Kansas City Real Estate Market

Real Estate Statistics On Prairie Village Kansas
15 Day Glance At The Prairie Village KS Real Estate Market

After calculating the absorption rate over the past 15 days in Prairie Village Kansas, we find the city has 5.8 months of inventory currently on the market. This amount of inventory indicates a slight buyer’s market in the Prairie Village area. The average price of the new listings was around $235,000 and the average price of the homes that sold was closer to $218,000.

Type # Average $ Avg DOM
Listings Past 15 Days 33 $234,623 –
Total Active Listings 186 – –
Newest Contracts Written 18 $188,139 107
Newest Sold (Closed) 16 $218,098 84

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

If you are making plans to buy or sell a home in Prairie Village Kansas, we’ll guide you through the process. Here’s details about how we assist Prairie Village home sellers and Prairie Village home buyers. Please contact us with any questions you may have and we look forward to assisting you!

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Posted by Jason Brown

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Lenexa Kansas Real Estate Update – August 2011

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Real Estate Statistics On Lenexa Kansas
15 Day Glance At The Lenexa KS Real Estate Market

After calculating the absorption rate over the past 15 days in Lenexa Kansas, we find the city has 7.2 months of inventory currently on the market. This considers the current volume of 292 homes for sale in Lenexa and the sales (closing) rate experienced the past 15 days in the city. This amount of inventory is considered a buyer’s market but Lenexa is still outpacing many Kansas City metro areas. The average list price the past 15 days was over $300,000 while the average sales price was about $212,000 and that’s a concern.

Type # Average $ Avg DOM
Listings Past 15 Days 43 $302,669 –
Total Active Listings 292 – –
Newest Contracts Written 29 $251,645 115
Newest Sold (Closed) 19 $211,792 132

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The most recent 19 homes to sell in Lenexa were on the market an average of 132 days. If you’re considering selling or buying a home in Lenexa KS, we can provide you expert representation and guide you through the process.  Here’s more info about selling your Lenexa home and buying a Lenexa home. Please contact us with any questions you may have and we look forward to assisting you.

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Posted by Jason Brown

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Overland Park Kansas Real Estate Update – August 2011

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Real Estate Statistics On Overland Park Kansas
15 Day Glance At The Overland Park KS Real Estate Market

After calculating the absorption rate over the past 15 days in Overland Park Kansas, we find the city has 5.4 months of inventory currently on the market. This is an improvement over the 6.2 months of inventory when we checked Overland Park’s real estate stats back in July. 5.4 months of inventory represents a slight buyer’s market but the average sales price the past 15 days was significantly higher than the average priced new listing to come on the market during the same time period. This is a promising sign for Overland Park home sellers.

Type # Average $ Avg DOM
Listings Past 15 Days 141 $261,720 –
Total Active Listings 1,074 – –
Newest Contracts Written 103 $242,764 103
Newest Sold (Closed) 99 $288,696 111

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The last 99 homes that sold (closed) in Overland Park were on the market an average of 111 days. Please contact us if you need the market stats on any particular Overland Park home community. We can help you buy or sell an Overland Park Kansas home and here’s some details on how we can assist you with selling your Overland Park home or with buying an Overland Park home.

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Posted by Jason Brown

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Olathe Kansas Real Estate Update – August 2011

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Real Estate Statistics On Olathe Kansas
15 Day Glance At The Olathe KS Real Estate Market

After calculating the absorption rate over the past 15 days in Olathe Kansas, we find the city has 4.7 months of inventory currently on the market. This is a huge improvement over the 6.8 months of inventory when we looked at Olathe’s market stats near the end of June. In fact, this amount of inventory represents a balanced real estate market and that’s a good sign for Olathe home sellers. It should be noted that the average sales price the past 15 days was close to $205,000, while the average new listing came on the market at close to $232,000.

Type # Average $ Avg DOM
Listings Past 15 Days 141 $231,802 –
Total Active Listings 949 – –
Newest Contracts Written 100 $204,183 131
Newest Sold (Closed) 102 $205,714 133

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The homes that sold (closed) the past 15 days did so in 133 days. If you are making plans to buy or sell a home in Olathe Kansas, we look forward to helping you achieve your real estate goals. You can find out more about how we’ll help you sell your Olathe home or purchase an Olathe home. Please contact us with any questions you may have!

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Conflicting Data: Falling Number Of Home Sales, Rising Median Home Sale Prices

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The Case-Schiller 20-city real estate index – which provides data on a sampling data on our national metro area real estate markets – shows that we’re nearing an all time low in the volume of home sales. It’s interesting that while home sales fell 1%, median sales prices rose an astounding 5.8% during the same period. Despite that rise in sales prices, the decline in the volume of home sales overall has the 20-city index nearing its lowest point since November 2009. Note how this graph shows us back at 2003 levels.


It’s noteworthy that the last several years shows the real estate market has been relatively stable. The  Case-Schiller 20-city index tells us that 80% of the cities experiencing monthly increases in sales prices but annually 19 of the 20 cities experienced lower sales prices.  Home sales overall are nearing their lowest point ever and if that trend continues it’s unlikely average home sales prices will continue to buck the trend.


Posted by Jason Brown

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Leawood Kansas Real Estate Update – July 2011

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Real Estate Statistics On Leawood Kansas
15 Day Glance At The Leawood KS Real Estate Market

After calculating the absorption rate over the past 15 days in Leawood Kansas, we find the city has 15.3 months of inventory currently on the market. That is very high and a sales rate of 11 homes closed the past 15 days in the entire city of Leawood is making it tough for Leawood home sellers. 27 homes did go under contract during the same 15-day period and it would be great if all of those homes make it the closing table.

Type # Average $ Avg DOM
Listings Past 15 Days 40 $491,600 –
Total Active Listings 336 – –
Newest Contracts Written 27 $462,226 94
Newest Sold (Closed) 11 $442,664 58

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The days on market figures look good for the homes that went under contract as well as for those last 11 homes to sell in Leawood.  The sold homes were on the market 58 days and the recent 27 homes to go under contract were on the market 94 days. If you are making plans to buy or sell a home in Leawood Kansas, we look forward to guiding you through the process. Here’s information on how we can assist you with selling your Leawood area home or with buying a Leawood area home.  Please contact us with any questions you may have. We look forward to assisting you!

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Posted by Jason Brown

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If You Think The Kansas City Real Estate Market Is Bad…

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The Kansas City metro area saw a much more gradual uptick in home prices during the boom than many metro areas. This has led to a softer fall for us than what we’re seeing in many metro areas across the U.S. I receive more real estate updates to my Google Reader than any one person can keep up with, but I read many of them and at least gloss over virtually all of the headlines. I’m seeing communities like Minneapolis, Phoenix, Las Vegas, Chicago, Charlotte and Tampa mentioned often as real estate markets that are really struggling to stabilize.

I see that in Minneapolis home prices fell nearly 4% in March alone! That’s an unbelievable drop for a one month period. There has been some good news this year with many hard hit metro areas such as Los Angeles, Boston, San Francisco, San Diego and Washington DC seeing some stabilization with home prices. The Minneapolis market is very interesting because it had done a decent job of avoiding the hard-hitting downturn experienced by some other major markets. But that is all changing now. Two other cities I have started hearing about serious concerns with their real estate markets are Dallas and Denver. Let’s hope those two – and all our major metro real estate markets – avoid what’s going on with the Minneapolis market.


Posted by Jason Brown

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Kansas Real Estate Stats Show Home Sales Fell 15% In June

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My association of Realtors has released June’s real estate stats and the information is not favorable for home sellers. Home sales fell nearly 15% in June compared to June 2010’s sales. The raw numbers were 2,990 home sales state-wide in June compared 3,511 homes sold June 2010. The volume of home sales across the U.S. during the same months fell 8.8%.


When we compare the 19,665 homes for sale in Kansas (at the end of June) to the 2,990 homes sold during the month of June, we find there was 6.6 months of inventory on the market in the state of Kansas at the end of June. 6.6 months of inventory indicates the summer of 2011 continues to be a strong buyer’s market. The average sales price across the state in June was nearly $166,000 and down just slightly from June 2010.  

Locally in Johnson County Kansas, the market remains stabilize. 815 homes were sold in Johnson County Kansas this June. Compare that volume of monthly sales to the 4,072 homes currently for sale in Johnson County Kansas and we find there’s 5.0 months of inventory in Johnson County. That amount of inventory is considered a stable real estate and indicates that Johnson County Kansas remains a very solid real estate market in the Kansas City area.


Posted by Jason Brown

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Shawnee Kansas Real Estate Update – July 2011

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Real Estate Statistics On Shawnee Kansas
15 Day Glance At The Shawnee KS Real Estate Market

After calculating the absorption rate over the past 15 days in Shawnee Kansas, we find the city has 13.6 months of inventory currently on the market. This is very high and we need more than 17 homes selling in a two-week period to eat through the 463 homes for sale in Shawnee. Almost twice as many homes went under contract as sold (closed) during the same 15-day period and that’s a good sign.

Type # Average $ Avg DOM
Listings Past 15 Days  59 $239,992 –
Total Active Listings 463 – –
Newest Contracts Written 31 $198,029 106
Newest Sold (Closed) 17 $188.012 117

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The average sales price of the last 17 sales in Shawnee was right at $188,000, while the average price of the 59 new listings was nearly $240,000.  If you are making plans to buy or sell a home in Shawnee Kansas, we look forward to going over the market stats that specifically affect your buying or selling decisions. Here’s information on how we assist Shawnee Kansas home sellers and how we assist Shawnee Kansas home buyers. Please contact us with any questions you may have. We look forward to assisting you!

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Posted by Jason Brown

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Mixed Signals On What To Expect With Future Kansas City Real Estate Foreclosures

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I was surprised to hear the volume of foreclosures nationally has slowed significantly. These are credible year-over-year stats as reported by RealtyTrac. Indications are that foreclosure activity has dropped 1/3 May 2011 compared to May of last year. This puts foreclosures at a four-year low. In May, about 1 in 600 homeowners received some sort of foreclosure filing, which could include a default notification, scheduling of an auction date, finalized repossession, etc. 


Still, most experts agree there’s 2 to 3 years worth of distressed property inventory to eat up across the U.S. Additionally, I’ve seen estimates that for every current REO foreclosure listing, there’s two more listings yet to hit the market. If true, that’s going to significantly impact the promising reports of falling foreclosure activity nationally. I wonder if the build-up is due more to banks having trouble getting properties ready to go on the market, banks using discretion to not flood the real estate market with more distressed properties or if a lot of its to do with lenders being forced to change how they handle the process and thus having to re-start many foreclosure proceedings.


Posted by Jason Brown

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