Category Archives: City Market Stats

Kansas City Market Statistics, Kansas City Real Estate Market Update

Leawood Kansas Real Estate Update – December 2010

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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 determine that there’s currently 9.9 months of inventory currently on the market. This is high but a vast improvement over the 13.7 months of inventory when we checked in late October. The homes that closed the past 15 days took 150 days on average to do so, which isn’t too bad. But the average sales price ($354,814) was $100,000 lower than what the average list price was over the same 15-day period ($454,712).

Type

#

Average $

Avg DOM

Listings Past 15 Days

 13 $454,712

–

Total Active Listings

 277

–

–

Newest Contracts Written

 10 $357,390 182

Newest Sold (Closed)

 14 $354,814 150

* 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.

Many Leawood Kansas home sellers are overpricing their homes and this is often a poor pricing strategy. When homes don’t sell quickly, sellers will start reducing the price down the road but often it’s too late to overcome the stigma associated with a home that’s been the market a lot longer than the competition. The process of selling and buying a home is more complicated than ever. So if your real estate plans involve buying or selling a home in Leawood Kansas, please contact me for assistance. I look forward to going over your real estate goals and going to work to help you achieve them.

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Leawood Kansas

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Posted by Jason A. Brown

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Olathe Kansas Real Estate Update – December 2010

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

After calculating the absorption rate over the past 15 days in Olathe Kansas, we determine there’s currently 11.9 months of inventory on the market. This is high but the stats also cover the Thanksgiving holiday when sales are slower. Still, there’s a lot more inventory currently on the market than there are Sold (closed) homes or homes going under contract. The 38 homes that did close in Olathe the past 15 days took 169 day to do so.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 83 $206,083

–

Total Active Listings

 908

–

–

Newest Contracts Written

 49 $183,465 121

Newest Sold (Closed)

 38 $222,041 169

* 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.

If buying or selling an Olathe Kansas home is in your plans, please contact me to discuss your real estate situation. We can meet my office or at your home to discuss your goals and how we can help you achieve them. We’re internet savvy Olathe Kansas real estate experts and we’re always working to give our clients an advantage in their real estate transactions.

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Olathe Kansas

Olathe Kansas

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Olathe Ranked Top 50 Safest City in U.S.
Posted by Jason A. Brown

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Lenexa Kansas Real Estate Update – December 2010

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

After calculating the absorption rate over the past 15 days in Lenexa, we find there’s 9.6 months of inventory on the market. This is high but when you consider the sales rate the past 15 days include the Thanksgiving holiday, the amount of inventory isn’t alarming. The sale’s prices compared to list prices over the 15-day period are however a concern. The average sales price was $236,000, however the average price of the new listings over the same period was close to $300,000.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 11 $302,618

–

Total Active Listings

 269

–

–

Newest Contracts Written

 16 $277,281 146

Newest Sold (Closed)

 14 $235,874 372

* 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 of the homes that closed was high but the homes that went under contract over the same period did so in less than 5 months. Once we get past the holidays, we’ll watch closely to see if sales start to pick up. If your real estate goals involve buying or selling a home in Lenexa, please let me know how I can assist you.

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Posted by Jason A. Brown

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Months Of Kansas City Real Estate Inventory Broken Down By Price Range

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Checking The Pulse Of The Kansas City Real Estate Market

As a tumultuous 2009 comes to a close,  it’s time to analyze our local market stats from a little different perspective. Rather than looking at a specific city or micro-analyzing a particular subdivision, below we take a look at the Kansas City metro market as a whole and break things down by price range.  The following includes single family properties only and uses an absorption rate calculated using the average monthly sale’s rate over the past 6 months in each price range…

Price Range Active Listings Months of Inventory
Under $50,000 1,382 6.8
$50 to $100 2,819 10.0
$100 to $150 3,274 10.5
$150 to $200 2,696 8.8
$200’s 2,315 7.6
$300’s 989 8.8
$400’s 445 8.4
Over $500,000 872 16.8


Other than upper bracket homes, there’s a high volume of inventory in the $50,000 to $150,000 range. Since months of inventory factors in the sales rate within the price range, the high numbers in these price ranges can’t simply be chalked up to there being more homes in the particular price range. There’s simply a lot of homes on the market for the buyer demand that’s out there for this price range of home.

The $200’s price range  is the most stable price range in the metro area, with 7.6 months of inventory currently on the market. If you’re a buyer looking for a home over $500,000, you should be pleased when you see what your money can buy you in today’s real estate market.  Certainly, with more than 16 months of inventory on the market in the upper bracket price ranges, you’ll find some motivated sellers.


Posted by Jason A. Brown

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More Of The Same For Kansas City Home Sellers As We Head Into Winter

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Checking The Pulse Of The Kansas City Real Estate Market

The most recent stats as reported by the Kansas Association of Realtors (KAR) covers October’s real estate market across the state of Kansas.  And it was more of the same as home sales fell more than 35% in October 2010 when compared to October 2009. The actual numbers were a gross drop from 2,949 sales October last year to 1,896 sales this October. In a rare occurence, the Kansas real estate market fared worse than the national real estate market, which saw about a 26% decrease.

The months of inventory on the market has crept up to 11.2 months of inventory. Months of inventory in this case is calculated using the number of October home sales and dividing that into the 21,199 homes that were on the market at the time this report was produced. Average sales prices in October dropped 2.4% in Kansas.

Looking at our local Johnson County Kansas real estate market, we had 421 homes sold in October. This was down significantly from the 829 homes sold in October 2009. Using this October’s sale’s rate and comparing it to the 3,725 homes for sale in Johnson County, there’s 8.9 months of inventory on the market. This clearly indicates a continuation of the buyer’s market in Johnson County Kansas and surrounding areas.


Posted by Jason A. Brown

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Blue Valley Kansas Real Estate Update – December 2010

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for the Blue Valley School District in Kansas
Recent 15 Days of Blue Valley Market Activity

After calculating the absorption rate over the past 15 days for homes in the Blue Valley School District area, we determine there’s currently 11.2 months of inventory on the market. This is high although it should be noted that the 15-day absorption rate covers the Thanksgiving holiday, which is very slow time of year for home sales. Still, most of the homes would have had contracts written on them at 30 to 45 days prior, minimizing the holiday effect.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 57 $399,165

–

Total Active Listings

 790

–

–

Newest Contracts Written

 58 $379,513 124

Newest Sold (Closed)

 35 $317,693 188

* 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 number of homes that went under contract the past 15 days was a more impressive 58. If we were to assume all of those will make it the closing table (and used that figure for our absorption rate), there’s 6.8 months of inventory on the market and represents a more stable real estate market in the Blue Valley area. Possibly the biggest concern I have is that the average seller felt their home was worth right at $400,000, while the average sale price over the same period was about $318,000.

If your real estate goals involve buying or selling a home in the Blue Valley area, please contact me for assistance. The Blue Valley area is a wonderful area that covers most of southern Overland Park, Southern Leawood and a southeast portion of Olathe Kansas. If preferred, we can can easily set you up to receive email updates of only homes available within the school district.

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Posted by Jason A. Brown

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Comparing Real Estate Markets From Kansas City To Overland Park To Olathe…

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Checking The Pulse Of The Kansas City Real Estate Market

Many major real estate markets that I keep tabs on are in a buyer’s market. But a few market’s are still in what the “experts” consider a stable market. Most experts generally agree that a buyer’s market is when there’s between 5 to 7 months of inventory on the market. Less than  5 months of inventory is a Seller’s market and more than 7 months of inventory is a buyer’s market.

I usually take a snap shot look at one city or one subdivision at a time, so today I thought it would be interesting to take a look at several of our major metro cities for comparison purposes. The following chart uses the absorption rate over the past 6 months in each city to calculate the months of inventory. As expected, Overland Park is seeing a “stable” real estate market and is followed closely by Prairie Village Kansas and Olathe Kansas…

City

Active Listings

Months of Inventory
Overland Park KS 1,081 5.7
Prairie Village KS 183 6.2
Olathe KS 933 6.5
Shawnee KS 390 7.1
Leawood KS 321 7.2
Lenexa KS 297 7.6
Lee’s Summit MO 832 8.3
Kansas City MO 5,176 9.0

Posted by Jason A. Brown

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Prairie Village Kansas Real Estate Update – November 2010

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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, we can determine there’s currently 12.1 months of inventory on the market. This is high and clearly represents a buyer’s market in the city of Prairie Village. If we were to use the 18 homes that went under contract the past 15 days (assuming they all will close), the months of inventory would re-calculate to 5.4 months. That would be considered a stable real estate market and home sellers are hoping the current rate of homes going under contract continues into the fall.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 19 $241,784

–

Total Active Listings

 194

–

–

Newest Contracts Written

 18 $236,192 87

Newest Sold (Closed)

 8 $206,125 63

* 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.

If your real estate goals involve buying or selling a home in the Prairie Village or surrounding area, please contact me for assistance. We look forward to guiding you through the process and in representing your best interests. Please let us know whenever you need more specific market statistics or stats on a specific area within Prairie Village.

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Posted by Jason A. Brown

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Shawnee Kansas Real Estate Update – November 2010

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

After calculating the absorption rate over the past 15 days in Shawnee Kansas, we find the city has 9.0 months of inventory on the market. This is high but a marked improvement on the more than 11 months of inventory in our previous Shawnee Kansas real estate update. It’s still clearly a buyer’s market in Shawnee Kansas and the average sales price of the new listings on the market the past 15 days was significantly higher ($284,462) than the average sale price over the same period ($227,197).

Type

#

Average $

Avg DOM

Listings Past 15 Days

 45 $284,462

–

Total Active Listings

 415

–

–

Newest Contracts Written

 29 $219,843 115

Newest Sold (Closed)

 23 $227,197 137

* 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.

Whether your real estate goals involve buying or selling a home in Shawnee Kansas or in the surrounding Johnson County KS or Kansas City area, I’d look forward to assisting you. Please contact me to let me know the basics about your real estate goals and we’ll start going over the market stats and how we can help you get the best possible deal when buying or selling a Shawnee Kansas home.

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Posted by Jason A. Brown

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Challenging Real Estate Market Continues Into The Fall For Kansas City Home Sellers

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Checking The Pulse Of The Kansas City Real Estate Market

The most recent stats reported by the Kansas Association of Realtors (KAR) were September’s market stats. The results were not favorable for home sellers across the state of Kansas. KAR reports that home sales fell more than 22% in September when compared to September 2009. This was a huge drop from around 2,765 reported sales last year to 2,100 this year. The Kansas real estate market was slightly worse than the national average, which saw about a 19% drop in sales compared to last September.

The months of inventory on the market has crept up to 9.9 months of inventory. Months of inventory in this case is calculated using the number of September home sales and dividing that into the 21,148 homes that were on the market at the time this report was produced. Average sales prices held pretty steady with a 0.4% decline from $151,383 in September (compared to August 2010).  Nationally, home prices decreased by 2.4% overall between September 2009 and September 2010.

Looking at our local Johnson County Kansas real estate market, we had 503 homes sold in September. This was down about 1/3 from the 750 homes sold in September 2009. Using this September’s sold stats and comparing it to the 4,130 homes for sale in Johnson County, there’s currently 8.2 months of inventory on the market. It’s clearly a buyer’s market in Johnson County Kansas and I continue to see amazing deals all over the Johnson County Kansas area.


Posted by Jason A. Brown

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