Category Archives: City Market Stats

Kansas City Market Statistics, Kansas City Real Estate Market Update

Olathe Kansas Real Estate Update – May 2011

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Olathe Kansas
Recent 15 Days of Olathe KS Market Activity

After calculating the absorption rate over the past 15 days in Olathe Kansas, we find the city has 8.3 months of inventory currently on the market. This amount of inventory indicates it remains a buyer’s market in the Olathe area. The average sales price the past 15 days looks solid though and was actually higher than the average priced new listing to come on the market over the same period of time. It’s still taking some time for Olathe home sellers to get to the closing table – 199 days on average for the most recent 59 home sales in Olathe.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 155 $235,006

–

Total Active Listings

 982

–

–

Newest Contracts Written

 106 $204,099 115

Newest Sold (Closed)

 59 $252,772 199

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

An impressive number of Olathe homes went under contract (106) and hopefully the vast majority of those make it through to closing. If your real estate plans involve selling or buying a home in Olathe Kansas or in the surrounding areas, please contact me to discuss your situation. We look forward to learning about your real estate objectives and working to help you achieve them. 

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Olathe Kansas

Olathe Kansas

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Map Of Olathe Kansas Restaurants
Posted by Jason A. Brown

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A Year Of Real Estate Market Stats Covering the Entire Kansas City Metro Area

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Checking The Pulse Of The Kansas City Real Estate Market

Here’s a look at the real estate stats for the entire Kansas City metro MLS area. This includes  Johnson County Kansas, Overland Park, Olathe, Leawood, Lenexa, Shawnee, Prairie Village, Lee’s Summit, Independence, Blue Springs, Grandview, Liberty, KCK and every listing in between that reports to the MLS. The graph below is a look at the past 14 months of real estate activity. You’ll see in the light green area that there was a significant dip in the volume of homes on the market in January and February. Since that time, the spring real estate market has brought the typical jump in the number of Kansas City homes for sale. But we’re still below the volume of homes that were on the market this time last year and that’s a good sign.

We won’t compare April’s sales rate to last April’s because you can see last year’s stats were grossly inflated by the home buyer tax credit that was still in effect. Looking at just the past few months, sales in both March and April (individually) were better than and other month since the tax credit ended (with the exception of July last year).

Posted by Jason A. Brown

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Overland Park Kansas Real Estate Update – May 2011

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Overland Park KS
Recent 15 Days of Overland Park Kansas Market Activity

After calculating the absorption rate over the past 15 days in Overland Park Kansas, we find the city has 9.2 months of inventory currently on the market. This amount of inventory represents a continuation of a buyer’s market in Overland Park Kansas. Though the numbers of home sold (closed) the past 15 days wasn’t too impressive, more than double that number of homes went under contract. If the 143 homes that went under contract were to make it the closing table, the amount of inventory (calculated on the current volume of 1,150 homes for sale in Overland Park) could be re-calculated at right around 4 months of inventory. 

Type

#

Average $

Avg DOM

Listings Past 15 Days

 183 $280,675

–

Total Active Listings

 1,150

–

–

Newest Contracts Written

 143 $273,525 97

Newest Sold (Closed)

 63 $234,684 107

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

Home sellers in Overland Park who did get their homes under contract the past 15 days did so in an impressive 97 days on average. It’s concerning though that the average priced new listing came on the market around $280,000, while the average sales price was in the mid $230’s. If your real estate goals involve buying or selling a home in Overland Park Kansas or the surrounding area, please contact me to discuss how we can assist you. We look forward to learning the details surrounding your plans to buy or sell an area home and helping you achieve your real estate goals. 

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Overland Park Kansas

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Map Of All The Hotels Near Overland Park KS
Posted by Jason A. Brown

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Prairie Village Kansas Real Estate Update – May 2011

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Prairie Village
Recent 15 Days of Prairie Village KS Market Activity

After calculating the absorption rate over the past 15 days in Prairie Village Kansas, we find the city has 5.2 months of inventory currently on the market. This is excellent in our current market and represents a stable amount of inventory in the Prairie Village KS area. The days on market (DOM) for Prairie Village is outpacing the length of time it’s taking to sell homes in most other Kansas City metropolitan areas. Both the homes that sold and those that went under contract the past 15 days did so in less than 4 months time.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 34 $224,475

–

Total Active Listings

 175

–

–

Newest Contracts Written

 15 $185,093 89

Newest Sold (Closed)

 17 $256,168 118

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

Sales prices on the closed homes the past 15 days looks solid, with the average home selling for $256,168. The average list the price during this time was $224,475 and provides Prairie Village home buyers with lots of new options to consider. If your real estate goals involve buying or selling a home in Prairie Village Kansas, please contact me for assistance. We look forward to learning about your goals and helping you buy or sell a Prairie Village area home. 

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Prairie Village Kansas

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Prairie Village Resident Resources
Posted by Jason A. Brown

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Leawood Kansas Real Estate Update – May 2011

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Leawood Kansas
Recent 15 Days of Leawood KS Market Activity

After calculating the absorption rate over the past 15 days in Leawood Kansas, we find the city has 13.8 months of inventory currently on the market. This is very high and due to the fact that in the entire city of Leawood there were just 12 homes Sold (closed) over the 15 day period. 33 homes went under contract during the same 15 days and that’s a solid number. Should most of those homes close, the months of inventory could be drastically lower when we check the stats next month.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 43 $544,597

–

Total Active Listings

 330

–

–

Newest Contracts Written

 33 $453,868 112

Newest Sold (Closed)

 12 $342,258 448

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

Leawood Kansas home buyers and home sellers have plenty of options when choosing a Leawood real estate agent. Staying up on your local market before your home goes on the market AND while it’s for sale is critical. Be sure you choose an agent who cares enough about your success to stay current on the local Leawood real estate market stats and to keep you informed so you can make the best real estate decisions. 

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Leawood Kansas

Leawood Kansas

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Leawood Kansas Links of Interest
Posted by Jason A. Brown

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Lenexa Kansas Real Estate Update – April 2011

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Lenexa Kansas
Recent 15 Days of Lenexa KS Market Activity

After calculating the absorption rate over the past 15 days in Lenexa Kansas, we find the city has 6.3 months of inventory currently on the market. This is an improvement over the 8.9 months of inventory in our March look at Lenexa’s stats. We were hoping to see the sales rate pick up with the weather but there were almost the same number of homes going under contract during the past 15 days as there were homes that closed. Although home sales in Lenexa haven’t picked up the past 15 days, we’re just now heading into the prime selling season.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 66 $295,140

–

Total Active Listings

 327

–

–

Newest Contracts Written

 25 $276,572 176

Newest Sold (Closed)

 26 $246,249 185

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

The days on market for both the homes that closed and those that recently closed is right around 6 months and higher than most Lenexa area sellers would prefer. The average list price the past 15 days was about $50,000 higher than the average sales price of the homes that closed. If your real estate goals involve buying or selling a home in Lenexa, these types of market stats will give you an advantage over your competition – whether that’s other Lenexa home sellers or home buyers. Please let us know when you’re ready to receive expert real estate guidance. 

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Lenexa Kansas

Lenexa Kansas

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200 Acre Lenexa City Center
Posted by Jason A. Brown

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Taking A Look At The National Housing Stats As We Head Into The Prime Selling Season

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Checking The Pulse Of The Kansas City Real Estate Market

My National Association or Realtors (NAR) reports that existing home sales in March rose 3.7% over February’s stats. The numbers were down 6.3% however when compared to March of last year. But we were still in the tax credit era at that time, so it’s not a real fair comparison to gauge last March against today’s real estate market. Comparing March stats to February’s however does bring better news to Kansas City home sellers as we head into the prime home selling season.


Existing home sales have in fact risen in all but 2 of the last 8 months. That’s great news. A NAR survey shows that 33% of homes purchased in March were bought by First Time Home Buyers. NAR also reports the average existing home price in March was just under $160,000 — an almost 6% drop from March of 2010 – and an astounding 40% of total sales were distressed properties, such as bank foreclosures and short sales.


Posted by Jason A. Brown

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Overland Park Kansas Real Estate Update – April 2011

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Overland Park Kansas
Recent 15 Days of Overland Park KS Market Activity

After calculating the absorption rate over the past 15 days in Overland Park Kansas, we find the city has 9.4 months of inventory currently on the market. This is the same amount of inventory as when we checked the market stats in Overland Park about a month ago.  It’s still clearly a buyer’s market in Overland Park and we’ll need to see more closings or fewer new listings hitting the market if the months of inventory is to improve for area home sellers.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 183 $277,832

–

Total Active Listings

 1,146

–

–

Newest Contracts Written

 115 $269,630 130

Newest Sold (Closed)

 61 $261,531 168

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

There was good news in the average sales price as it was reasonably below the average list price over the 15-day period. The number of homes that went under contract were nearly double the number of closings and this could mean significantly improved stats in the near future. When buying or selling a home in Overland Park Kansas, it’s important buyers and sellers have an agent representing their best interests. If your plans involve buying or selling a home in Overland Park, we look forward to going to work as your listing agent or buyer’s agent. Please let us know how we can assist you further.

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Overland Park Kansas

Overland Park Kansas

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Overland Park Zoning Map
Posted by Jason A. Brown

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Olathe Kansas Real Estate Update – April 2011

Posted on by
Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Olathe Kansas
Recent 15 Days of Olathe KS Market Activity

After calculating the absorption rate over the past 15 days in Olathe Kansas, we find the city has 7.1 months of inventory currently on the market. This amount of inventory is not far from being considered a stable real estate market and that’s a promising sign for Olathe home sellers. The 64 homes that sold took 6 months to do so but the 99 homes that went under contract during the same 15-day period, did so in just 4 months.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 160 $237,180

–

Total Active Listings

 914

–

–

Newest Contracts Written

 99 $206,747 120

Newest Sold (Closed)

 64 $187,411 187

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

The average sales price is a concern as the average new listing was listed around $237,000, while the average sales price in Olathe over the same period was closer to $187,000. 5 to 7 months of inventory is considered a stable real estate market, so if the amount of inventory falls – due to fewer distressed listings on the market or due to a greater volume of home sales – home prices in Olathe could really stabilize.  If you are considering buying or selling a home in Olathe, it’s important that you hire a tech savvy real estate agent. Contact my group and we’ll provide you expert listing expertise when selling and expert buyer’s agent guidance when purchasing an Olathe area home. 

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Olathe Kansas

Olathe Kansas

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Things To Do In Olathe
Posted by Jason A. Brown

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Home Sellers Reduced Home Prices $24 Billion During The Past 12 Months

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Checking The Pulse Of The Kansas City Real Estate Market

According to Trulia, home sellers nation-wide lost $24 billion in potential equity by way of price reductions taken when selling their homes. Many of the homes included in the report are still on the market and will see further price reductions before selling. Nationally, home prices were down 6.7% in the U.S. in February (year-over-year). Extremely motivated home sellers should watch the video in the link below and be sure their real estate agent is giving them the local real estate market stats, so they can make an informed real estate decision…

Realty Check: Pricing Under Pressure
Thu 07 Apr 11 | 04:25 PM ET


Posted by Jason A. Brown

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