Category Archives: City Market Stats

Kansas City Market Statistics, Kansas City Real Estate Market Update

Overland Park Kansas Real Estate Update – September 2010

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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, we can determine there’s currently 8.5 months of inventory on the market. This is high and not helped by the fact that over the past 15 days we saw more than double the number of homes come on the market as were sold over the same period. What we really need is a couple of months where there’s more homes sold (closed) than homes coming on the market to get the months of inventory back down in the five month range.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 158 $278,834

–

Total Active Listings

 1,211

–

–

Newest Contracts Written

 81 $258,209 140

Newest Sold (Closed)

 71 $249,213 113

* 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 over the last 15 days in Overland Park was just under $250,000 and the average list price of the homes that went under contract is in line with this figure. Still, the average seller who put their home on the market believes their home is worth closer to $280,000. If your real estate goals involve selling an Overland Park home and/or buying an area home, please contact me for assistance. I look forward to going over the market stats that will have an impact on your real estate decisions.

View Past Real Estate Stats On Overland Park Kansas

Buyer’s Agents In Overland Park Kansas

Seller’s Agents In Overland Park Kansas

Relocating to Overland Park Kansas

View All Listed Overland Park Kansas Homes For Sale

Overland Park Kansas

Overland Park Kansas

Interesting Overland Park Kansas Link…
Community Centers In Overland Park
Posted by Jason A. Brown

Kansas City Area Second Quarter Market Update Shows Promise For Kansas City Area Home Sellers

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Checking The Pulse Of The Kansas City Real Estate Market

My National Association of Realtors has released the second quarter 2010 market statistics for the Kansas City metro area. The local trend shows that home prices have rising 4% when compared to the second quarter of 2009. The report gives us a look back nine years and I found it interesting to note that second quarter sales prices in the Kansas City area are down $7,100 on average compared to three years ago, but still up $5,900 over the past seven years.


So the average buyer who bought in 2003 is still ahead after the market downturn, but the average buyer who bought in 2007 is, well, wishing they’d bought in 2003. There’s a ton of other interesting information in the NAR report, including local employment growth at a rate better than most other markets and construction being on the rise – albeit it modestly – which indicates local new home inventories have stabilized.

The report also shows the Kansas City real estate market is one of the most affordable housing markets in the U.S. and there’s also details showing a decrease in the volume of loan delinquencies, thus suggesting area foreclosure rates should decrease in the future. Be sure to click the graph above to check out the entire report on the Kansas City metro area. Be patient after clicking on the graph as it’s a large PDF file and could take a minute to open.

Posted by Jason A. Brown

Lenexa Kansas Real Estate Update – September 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 using the past 15 days of market stats below to calculate the absorption rate in Lenexa Kansas, we can determine there’s 10.8 months of inventory on the market. This is high and yet another indication of the buyer’s market we’re seeing. There is a ton of great inventory for buyers to choose from and the average list price of the new homes coming on the market (269,472) is perfectly in line with the average sales price over the same 15-day period in Lenexa.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 50 $269,472

–

Total Active Listings

 344

–

–

Newest Contracts Written

 18 $276,467 249

Newest Sold (Closed)

 16 $294,689 185

* 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 continues to creep upwards in Lenexa and the 16 homes that sold took more than 6 months to do so. The 18 homes that went under contract were already at 249 days on market, so the stats are trending the wrong way for Lenexa home sellers. Whether buying or selling a home in Lenexa Kansas, it’s more important than ever that you align yourself with a real estate agent who understands what’s going on in our real estate market. Please let me know more about your real estate situation and I’ll get you the market stats specific to the areas that interest you most. I look forward to representing your best interests all the way through the real estate process.

View Past Real Estate Stats On Lenexa Kansas

Buyer’s Agents In Lenexa Kansas

Seller’s Agents In Lenexa Kansas

Relocating to Lenexa Kansas

View All Listed Lenexa Kansas Homes For Sale

Lenexa Kansas

Lenexa Kansas

Interesting Lenexa Kansas Link…
Lenexa Kansas Parks and Recreation Guide
Posted by Jason A. Brown

Johnson County Kansas Real Estate Update – August 2010

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

Comparing the absorption rate over the past 15 days in Johnson County Kansas to the number of homes currently on the market, there’s 10.3 months of inventory available. This is high and it’s clearly still a buyer’s market in Johnson County Kansas and the surrounding Kansas City metro area. As has been the trend for some time now, more homes came on the market (510) over the past 15 days, than homes sold (213) over the same period. This further increases the months of inventory and we’ll need to see a higher sales rate to work off the more the more than 4,000 homes for sale in Johnson County Kansas.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 510
 –

–

Total Active Listings

 4,385

–

–

Newest Contracts Written

 265
 $244,872 129

Newest Sold (Closed)

 213 $245,387 138

* 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 outpaced the number of actual closings, so there’s good potential news in those figures — assuming most those homes make it to the closing table. The homes that sold did so in about 4.5 months time. If your real estate goals involve buying or selling any Johnson County Kansas Real Estate, please contact me for assistance. When working as your Johnson County Realtor, we’ll provide you expert guidance in your home purchase or sale. Don’t hesitate to let us know if we can assist you by sending market stats specific to your subdivision or a surrounding community.

View Past Real Estate Stats On Johnson County KS

Buyer’s Agents In Johnson County KS

Seller’s Agents In Johnson County KS

Relocating to Johnson County Kansas

View All Listed Johnson County KS Homes For Sale

Johnson County Kansas Realtors

Johnson County Kansas Realtors

Interesting Johnson County Kansas Link…
Johnson County KS 2011 Budget
Posted by Jason A. Brown

Shawnee Kansas Real Estate Update – August 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

Using the sales rate over the past 15 days to figure the absorption rate in Shawnee Kansas, there’s currently 7.9 months of inventory on the market. This is high and there’s still too many homes (429) on the market in Shawnee when compared to a sales rate of 54 homes a month (over the past 15 days). To reduce the months of inventory on the market in Shawnee, the sales rate will need to pick up drastically — or the volume of homes coming on the market will need to slow.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 54 $223,892

–

Total Active Listings

 429

–

–

Newest Contracts Written

 23 $262,488 161

Newest Sold (Closed)

 27 $215,146 120

* 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 Shawnee Kansas, be sure you choose an Shawnee Realtor who is on top of their market place. Please let me know how I can assist with your Shawnee Kansas real estate needs.

View Past Real Estate Stats On Shawnee KS

Buyer’s Agents In Shawnee KS

Seller’s Agents In Shawnee KS

Relocating to Overland Park KS

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Overland Park Kansas

Overland Park Kansas

Overland Park Kansas Tidbit…
Overland Park Planning & Zoning Map
Posted by Jason A. Brown

Olathe Kansas Real Estate Update – August 2010

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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

Using the absorption rate over the past 15 days to figure the absorption rate in Olathe Kansas, there’s currently 10.2 months of inventory on the market. This is higher than we’ve seen recently in Olathe and the number of homes that went under contract over the same 15-day period is just slightly better. A piece of good news for Olathe Kansas home sellers can be found in the average sales price. The average home sold for $296,807, while the average new listing came on the market at $221,996

Type

#

Average $

Avg DOM

Listings Past 15 Days

 137 $221,996

–

Total Active Listings

 1,050

–

–

Newest Contracts Written

 78 $220,664 104

Newest Sold (Closed)

 51 $296,807 122

* 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.

To cut the months of inventory in half we’d either need twice as many homes to sell or for there to be half as many homes on the market. Until one or the other – or a combination thereof – occurs, we’ll remain in a heavy buyer’s market. If your real estate goals involve buying or selling a home in Olathe Kansas or the surrounding Kansas City area, please contact me for expert real estate guidance.

View Past Real Estate Stats On Olathe Kansas

Buyer’s Agents In Olathe Kansas

Seller’s Agents In Olathe Kansas

Relocating to Olathe Kansas

View All Listed Olathe KS Homes For Sale

Olathe Kansas

Olathe Kansas

Interesting Olathe Kansas Link…
 Olathe Kansas Parks and Recreation
Posted by Jason A. Brown

Overland Park Kansas Real Estate Update – August 2010

Posted on by
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

Comparing the absorption rate over the past 15 days to the volume of inventory on the market in Overland Park Kansas, we can determine that there’s 7.4 months of inventory on the market in this city. This figure continues to creep higher each time I take a look and that’s concerning. The problem I’m seeing is that the number of foreclosures and Short Sales listings hitting the market is outpacing the demand (sales) for area homes. This is the same problem faced in all our metro cities and I find Overland Park to still be the strongest  of our metro area real estate markets. But until the pace of distressed listings slows significantly, we’ll continue to be in a strong buyer’s market.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 171 $280,869
–
Total Active Listings
 1,211
–
–
Newest Contracts Written
 89 $257,812 102
Newest Sold (Closed)
 82 $227,469 98

* 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 first thing I see when looking at the chart above is that there were double the number of homes coming on the market (171) as were sold (82). In the past there’s been promise with the number of homes going under contract easily outpacing the number of homes sold (closed). But over the past 15 days, the number of homes going under contract (89) is only slightly ahead of the number of home that were sold (82). When you consider that past stats indicate it’s a virtual impossibility that all the homes under contract (Pending, Show For Backup Offers and Contingent) will close, we could see an even more challenging market for  Overland Park home sellers the next time we take a look.

Keep in mind that the sales rate doesn’t necessarily have to go up for there to be an improvement. If the number of homes on the market were to drop significantly, it could have an even more dramatic net effect on the months of inventory in Overland Park than simply a rise in the sale’s rate. We’ll continue monitoring the real estate picture in Overland Park and if you’re considering buying or selling an area home, we’ll get you the market stats specific to the community you’re looking to buy or sell a home.

View Past Real Estate Stats On Overland Park Kansas

Buyer’s Agents In Overland Park Kansas

Seller’s Agents In Overland Park Kansas

Relocating to Overland Park Kansas

View All Listed Overland Park Kansas Homes For Sale

Overland Park Kansas

Overland Park Kansas

Overland Park Kansas Tip of the Day…
 Biking And Hiking Trails In Overland Park Kansas
Posted by Jason A. Brown

Lenexa Kansas Real Estate Update – July 2010

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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

Using the stats below to calculate the absorption rate and compare it to the 356 homes currently for sale in Lenexa Kansas, there’s 11.9 months of inventory on the market in the city. This is high and a sale’s rate of around 30 sales per month is not adequate for the amount of inventory currently on the market. With just 22 homes going under contract in Lenexa over the past 15 days, I don’t expect the closings over the next 45 days to be much better.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 41 $248,651
–
Total Active Listings
 356
–
–
Newest Contracts Written
 22 $279,282 185
Newest Sold (Closed)
 15 $230,821 190

* 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 were 41 additional listings hitting the market over the past 15 days, further saturating the market. We’ll need the sales rate to pick up if Lenexa is to avoid going over one year of inventory on the market. If you’re considering selling or buying a Lenexa KS home, you’ll want to see market stats specific to the subdivision in which you’re looking to buy or sell. Please contact me when you’re ready for personalized real estate assistance.

View Past Real Estate Stats On Lenexa Kansas

Buyer’s Agents In Lenexa Kansas

Seller’s Agents In Lenexa Kansas

Relocating to Lenexa Kansas?

View All Listed Lenexa Kansas Homes For Sale

Lenexa Kansas

Lenexa Kansas

Lenexa Kansas Tip Of The Day…
 Lenexa Kansas Crime Statistic Map
Posted by Jason A. Brown

Leawood Kansas Real Estate Update – July 2010

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

Using the recent 15 days of market activity to figure the absorption rate in Leawood Kansas, there’s 14.1 months of inventory on the market in the city. This is very high and makes a very challenging market even more difficult for Leawood KS home sellers. The recent stats show four times as many homes coming on the market as going under contract during the same 15-day period. If almost all of the 26 homes that went under contract make it to closing, that sales pace would certainly be an improvement. To improve the months of inventory on the market, either more homes need to sell or fewer homes need to come on the market. Until the time we’ll remain in a heavy buyer’s market.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 55 $597,317
–
Total Active Listings
 395
–
–
Newest Contracts Written
 26 $485,435 202
Newest Sold (Closed)
 14 $394,214 154

* 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.

Also noteworthy is that the average list price the past 15 days was nearly $600,000, but the average sale price over the same period was under $400,000. If you’re considering selling or buying real estate in Leawood Kansas, please contact me for assistance. I’ll get you the market stats specific to the area of Leawood that applies to your situation. This will help you make an informed real estate decision and put you at an advantage when buying or selling a home in Leawood Kansas.

View Past Real Estate Stats On Leawood Kansas

Buyer’s Agents In Leawood Kansas

Seller’s Agents In Leawood Kansas

Relocating to Leawood Kansas

View All Listed Leawood Kansas Homes For Sale

Leawood Kansas

Leawood Kansas

Leawood Kansas Tip of the Day…
 Aerial View Of Leawood Kansas
Posted by Jason A. Brown

Johnson County Kansas Real Estate Update – July 2010

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

Using the past 15 days of real estate market stats in the chart below to figure the absorption rate in Johnson County Kansas, there’s currently 11.4 months of inventory on the market. This is the highest I’ve seen in some time and a sales rate of under 400 sales a month in the county is not high enough for an inventory of more than 4,000 homes on the market. There’s slightly better news in the number of homes that went under contract over the same 15-day period. If we use the figure of the 279 homes that went under contract to figure the absorption rate in Johnson County (under the assumption all will close), there’s 7.8 months of inventory – which is still high.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 591 –
–
Total Active Listings
 4,345
–
–
Newest Contracts Written
 279 $250,438 119
Newest Sold (Closed)
 190 $279,409 103

* 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 you’re about to buy or sell any Johnson County Kansas real estate, please contact me for assistance. We’ll get you the market stats specific to your area of Johnson County KS. Whether you’re buying or selling a Johnson County KS home, we’ll provide you expert real estate guidance.  So don’t hesitate to let me know how we can assist you.

View Past Real Estate Stats On Johnson County Kansas

Buyer’s Agents In Johnson County Kansas

Seller’s Agents In Johnson County Kansas

Relocating to Johnson County Kansas

View All Listed Johnson County KS Homes For Sale

Johnson County Kansas

Johnson County Kansas

Johnson County Kansas Tip of the Day…
Johnson County Kansas Property Tax Appraisals
Posted by Jason A. Brown