Category Archives: City Market Stats

Kansas City Market Statistics, Kansas City Real Estate Market Update

Overland Park Kansas Real Estate Update – July 2011

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Checking The Pulse Of The Kansas City Real Estate Market

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 6.2 months of inventory currently on the market. This is a little higher than the 5.1 months of inventory we found during our look at Overland Park’s June real estate stats. The average sales price was around $260,000 and higher than the average priced new listing to hit the market during the same 15-day period. The average price of the last 96 homes to go under contract in Overland Park was a solid $272,429.

Type # Average $ Avg DOM
Listings Past 15 Days 159 $251,998 –
Total Active Listings 1,146 – –
Newest Contracts Written 96 $272,429 99
Newest Sold (Closed) 93 $260,811 102

* 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.

It’s taking about 3 to 4 months to sell a well priced Overland Park home. If you will be selling or buying an Overland Park home, we’re ready to go to work as your Overland Park listing agent, Overland Park buyer’s agent… or both! Here’s information on how we can assist you with selling an Overland Park home and with buying an Overland Park 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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Lenexa Kansas Real Estate Update – July 2011

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Checking The Pulse Of The Kansas City Real Estate Market

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 7.3 months of inventory currently on the market. While still a buyer’s market in Lenexa, 7.3 months of inventory is quite an improvement over the 11.1 months of inventory when we took a look at Lenexa’s June market stats.

Type # Average $ Avg DOM
Listings Past 15 Days 35 $278,262 –
Total Active Listings 321 – –
Newest Contracts Written 36 $253,695 148
Newest Sold (Closed) 22 $227,439 69

* 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’re exploring the possibility of buying or selling a home in Lenexa, please contact us to discuss your situation. Here’s additional information on how we can assist you with selling your Lenexa home or with buying a Lenexa home. Please contact us with questions.

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Posted by Jason Brown

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Lowering Of Conventional Loan Limits Should Have Minimal Effect On Kansas City Real Estate Market

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Checking The Pulse Of The Kansas City Real Estate Market

Fannie Mae is planning to be less involved in future upper bracket home purchases. Currently, most counties across the U.S., including all of our Kansas City metro counties, have a $417,000 maximum loan amount that Fannie Mae will back. This means if you need a $450,000 loan, you don’t qualify for a conventional loan backed by Fannie Mae and will need to search for a lender willing to deal with this price range loan. That would likely mean higher loan costs, a higher interest rate, etc. Since it doesn’t appear there will be any change to the $417,000 level, it appears our Kansas City real estate market is mostly insulated from the coming changes.

More expensive real estate markets across the country are sure to be effected however. During the mortgage lending crises of the past several years, Fannie Mae stepped in raising the maximum price on loans it would back. This was designed to help stabilize counties with the most fragile and expensive real estate markets (i.e. few lenders around who were willing to make loans on the homes). But now Fannie Mae is reeling things back in by lowering limits back closer to the lowest $417,000 figure. 

While Kansas City appears mostly insulated from these changes, any adverse affect on our delicate national real estate market threatens to have a trickle down effect.  With some reports indicating that national home prices have fallen back to 2002 levels, let’s hope the effects of these changes are minimal here in Kansas City, Johnson County Kansas, Overland Park and the surrounding areas.


Posted by Jason Brown

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Olathe Kansas Real Estate Update – June 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 6.8 months of inventory currently on the market. This amount of inventory indicates it remains a buyer’s market in Olathe Kansas. But these figures are quite an improvement on the 8.3 months of inventory when found when we took at look at Olathe’s May stats. The average price of the new listings to come on the market the past 15 days ($213,199) was almost exactly the same as the average sales price  ($213,627) over the same period. This is an indication that home sellers are pricing their homes realistically.

Type # Average $ Avg DOM
Listings Past 15 Days 123 $213,199 –
Total Active Listings 978 – –
Newest Contracts Written 110 $208,899 132
Newest Sold (Closed) 72 $213,627 138

* 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 72 homes that sold (closed) in Olathe took an average of 138 days to sell. This amount of time is looking typical in Olathe as the 110 homes that went under contract during the same period did so in about the same amount of time. If you’re planning to purchase or sell a home in Olathe Kansas, we can guide you through the real estate process. Here’s information on how we assist Olathe home sellers and how we assist Olathe 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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Johnson County Kansas Real Estate Market Outpacing State Of Kansas Overall Stats

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My National Association of Realtors (NAR) report on May’s real estate market stats indicates that home sale fell more than 20% compared to last May. That may seem startling but we were still in the home tax credit era at that time last year, so you’d expect stats from a year ago to be better. NAR points out that May 2011 home stats compare favorably to May 2009 home stats (when there was no tax credit in effect skewing the numbers). The actual sales figures for 2011 compared to 2010 were 2,760 to  3,484 homes sold, respectfully. Nationally home sales fell 15%, May 2011 compared to May 2010.


When we compare the 20,261 homes for sale in Kansas (at the end of May) to the 2,760 homes sold during the month of May, we find there was 7.3 months of inventory on the market in the state of Kansas at the end of May. The average sales price in May of this year was $156,432, which is virtually identical to the $156,521 in May 2010. It’s apparent that Kansas home sellers continue to face a buyer’s market this summer.

Locally in Johnson County Kansas, the market continues to stabilize. 704 homes were sold in Johnson County Kansas this May. Compare that monthly sales rate to the 4,148 homes currently for sale in Johnson County Kansas and we find there’s 5.9 months of inventory in Johnson County. That amount of inventory is considered a stable real estate and could be a very good sign for Johnson County home sellers.


Posted by Jason Brown

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Leawood Kansas Real Estate Update – June 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 9.2 months of inventory currently on the market. This is an improvement on the more than 13 months of inventory when we took a look at Leawood’s stats in May, but it continues to be a buyer’s market in Leawood. The average sale price the past 15 days ($458,495) compared well against the average priced new listing in Leawood ($437,407) over the same period.

Type # Average $ Avg DOM
Listings Past 15 Days 60 $473,407 –
Total Active Listings 349 – –
Newest Contracts Written 34 $448,782 122
Newest Sold (Closed) 19 $458,495 185

* 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 is high in Leawood as the average listing took more than 6 months to sell. If you are making plans to buy or sell a home in Leawood Kansas, we’d look forward to representing your best interests through the process. Here’s more details about how we can assist you with selling your Leawood area home or with buying a Leawood area home and please contact us with any questions you may have. We look forward to assisting you with buying or selling a home in Leawood or the surrounding area.

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Posted by Jason Brown

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Overland Park Kansas Real Estate Update – June 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 5.1 months of inventory currently on the market. This is solid and a huge improvement over the 9.1 months of inventory when we took a look at Overland Park’s May real estate stats. 5.1 months of inventory is considered a stable real estate market and Overland Park continues to be one of the metro areas most stable real estate markets. The number of homes that went pending over the same 15-day period was also solid and it appears we’ll continue to eat into the 1,100+ homes for sale in Overland Park at a solid pace.

Type # Average $ Avg DOM
Listings Past 15 Days 163 $285,463 –
Total Active Listings 1,116 – –
Newest Contracts Written 108 $284,145 113
Newest Sold (Closed) 109 $273,068 121

* 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.

It’s taking about four months for the average Overland Park home to sell. Home sellers who put their homes on the market the past 15 days appear to be pricing their homes realistically… The average new list price was about $285,000, while the average sales price over the same period was about $273,000.

If you’re planning a move that involves buying or selling an Overland Park KS home, we are able to provide you expert guidance with your home sale or purchase. Here’s information on how we can assist you with selling your Overland Park home or with buying an Overland Park home. Please contact us with any questions you have and we look forward to assisting you!

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Posted by Jason Brown

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Most Believe A Real Estate Market Recovery Is At Least A Couple Of Years Away

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A collaborative report by Trulia.com and RealtyTrac.com finds that 54% of a random 2,000+ people surveyed believe the soonest the housing market will recover is 2014. Perception is reality and for more than half of the people surveyed to believe that, we’re in for a long road ahead. Just six months ago a similar poll found 34% of respondents believed the soonest the housing market would recover would be in 2014. To find that 20% more people feel this way just six months later won’t come as a surprise to many home sellers out there and the path to a successful home sale is clearly ever-changing.

Just 18% of those polled felt the real estate market would improve in 2012 or sooner. It’s possible that things can change that quickly. Truly though, I believe NO ONE can predict just how fast things may improve. Once enough home buyers start jumping back into the market (in anticipation we’re on our way up), it’s anyone’s guess how much affect that will have on home prices.  It could depend whether foreclosures are rising or falling when we get to that point and, again, NO ONE can predict the timing of that either.


Posted by Jason Brown

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Shawnee Kansas Real Estate Update – June 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 6.2 months of inventory currently on the market. This amount of inventory is considered a buyer’s market but this is as close to a stable real estate as we’ve seen in Shawnee in some time. The average price of the new listings the past 15 days was also very close to the average sales prices during the same period. So Shawnee Kansas home sellers appear to be pricing their homes realistically for current market conditions.

Type # Average $ Avg DOM
Listings Past 15 Days 64 $217,390 –
Total Active Listings 468 – –
Newest Contracts Written 35 $195,614 94
Newest Sold (Closed) 38 $211,632 184

* 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 35 homes that went under contract in the city of Shawnee did so in 94 days and that’s a promising trend. If you’re making plans to buy or sell a home in Shawnee Kansas, we look forward to guiding you through the process. Here’s information on how we can assist you with selling your Shawnee Kansas home or with buying a Shawnee Kansas 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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Lenexa Kansas Real Estate Update – June 2011

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Checking The Pulse Of The Kansas City Real Estate Market

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 11.1 months of inventory currently on the market. This is a high amount of inventory and it’s clearly a buyer’s market overall in Lenexa Kansas. The average new listing the past 15 days was priced at just over $269,000 while the average sales price over the same period was under $195,000. The sales pace of about 1 sale (closing) per day the past couple of weeks will have to pick up to eat into the 334 homes for sale in Lenexa.

Type # Average $ Avg DOM
Listings Past 15 Days 45 $269,113 –
Total Active Listings 334 – –
Newest Contracts Written 27 $224,659 151
Newest Sold (Closed) 15 $194,610 264

* 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 of the closed homes was over 8 months but the last 27 homes to go under contract in Lenexa did so in about 5 months time. This is a positive trend for Lenexa home sellers. If you’re making plans to buy or sell a home in Lenexa Kansas, we look forward to guiding you through the process. Here’s information on how we can assist you with selling your Lenexa area home or with buying a Lenexa area 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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