Category Archives: City Market Stats

Kansas City Market Statistics, Kansas City Real Estate Market Update

Lenexa Kansas Real Estate Update – March 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

Using the most recent 15 days of Lenexa Kansas real estate market stats to figure the absorption rate in Lenexa KS, there’s 5.5 months of inventory on the market. This is improving on previous stats and indicates a supply and demand for homes in Lenexa that is more in line with a stable market, than the clear buyer’s market we’ve been seeing. It is important to note though that the average new listing the past week went on the market around $294,000, while the average home that sold over the same period did so for a less expensive average of about $239,000.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 61 $293,993
–
Total Active Listings
 285
–
–
Newest Contracts Written
 34 $254,479 102
Newest Sold (Closed)
 26 $238,788 104

* 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 considering selling or buying a Lenexa Kansas home, you’ll definitely need to see more than just 15 days of market stats to make a judgment on Lenexa Kansas property values. I’d look forward to assisting with your real estate needs in the Lenexa Kansas and surrounding areas.

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…
City of Lenexa’s 2009 Year In Review
Posted by Jason A. Brown

The Good, The Bad And The Ugly Real Estate News In Kansas City

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Checking The Pulse Of The Kansas City Real Estate Market

The good news with the Kansas City Real estate market is that Freddie Mac reports that average 30 year interest rates dipped to 4.97% nationally last week. Interest rates below 5% are absolutely amazing and too many of us take today’s low interest rates for granted. One day, poof, they’ll be gone.  I’m going to do a post sometime soon that shows just how much a borrower  saves by purchasing with a 5% interest versus the 9% rate I had on my first home in the early 1990’s. The difference is truly astounding. Anyhow, so what other good news is there out there, other than the home buyer tax credit (that is keeping home sales moving along with smoke and mirrors)?  I had to dig a little but I found that existing home sales in the Kansas City metro rose around 8% in January (compared to 1/09). That’s certainly good news but comes with the caveat that it’s being compared against a month that was just plain horrid.

The Good, The Bad & The Ugly

So moving on to the bad news, my National Association of Realtors reports this week that existing homes sales fell an unexpected 7.2% in January (compared to 1/09).  The sales rate in January was the lowest since June of last year. Ouch. And now for the ugly news… New home construction sales nationally fell 6.1% in January (compared to 1/09) to reach the lowest number of home sales since records started being kept back in 1963. Local new home sales news was bad too, with the number of new home sales falling 28% in January (compared to 1/09).  In case you couldn’t tell, it’s still a Buyer’s market out there. I can’t wait until this market turns and I get to write hundreds of posts about how great the market is. Ah, the good old days…

Posted by Jason A. Brown

Leawood Kansas Real Estate Update – March 2010

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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 past 15 days of market stats to figure the absorption rate in Leawood Kansas, there’s 4.9 months of inventory currently on the market. This is the best I can recall seeing in the city of Leawood in more than a year. An average of 60+ closings per months really is an excellent rate over the past couple of weeks. Keep in mind this just a snap shot of Leawood Kansas activity. Also, although the months of inventory is a good sign, the average sale price were seeing ($374,606) is well off the pace of what recent sellers are hoping to get out of their homes in Leawood ($423,577). The average sales price of the homes that went under contract during the past 15 days is solid and very close to the sales price of the 51 homes that recently came on the market.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 51 $423,577
–
Total Active Listings
 307
–
–
Newest Contracts Written
 25 $429,636 162
Newest Sold (Closed)
 31 $374,606 84

* 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 considering selling or buying a home in Leawood Kansas, you’ll need more than just 15 days of market stats.  You’ll want 6 months or more worth of stats and you’ll want them on the community that interests you most.  As your local Leawood Kansas Realtor, I look forward to assisting you.

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 Real Estate

Leawood Kansas Real Estate

Leawood Kansas Tip of the Day…
Johnson County Library In The City Of Leawood KS

Posted by Jason A. Brown

Nottingham At Heritage Park Market Stats ~ Nottinham At Heritage Park In Olathe KS

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Checking The Pulse Of The Kansas City Real Estate Market
Nottingham At Heritage Park Real Estate Market Stats
Nottingham At Heritage Park Is A Subdivision In Olathe KS

Looking over the Nottingham At Heritage Park market statistics dating back to March 2009, 14 homes were put on the market and 10 homes were sold over the same year period. The average sales price in Nottingham At Heritage Park was $396,900 and the home community had a sale’s price range of $349,500 to $430,000.

Comparing the 6 Active listings in Nottingham At Heritage Park to the 12-month sales rate in the community, there’s 7.2 months of inventory currently on the market. This is a little high but not unexpected in the price range. There’s a good selection of inventory currently on the market for home buyers and the average current list price ($414,150) is in line with the average sales price ($396,900) over the last year in the subdivision. Nottingham At Heritage Park is a popular Olathe Kansas home community and located near parks and dining amenities.

Nottingham At Heritage Park In Olathe KS

Nottingham At Heritage Park In Olathe

Nottingham At Heritage Park is located in southeast Olathe Kansas and is one of the rare areas of Olathe that is served by the Blue Valley School District. Many of the homes in Nottingham At Heritage Park were built from 2000 to 2004. If you’re considering buying or selling a home in Nottingham At Heritage Park or in another area of Olathe KS, please let me know more about your real estate situation.

View Homes For Sale in Nottingham At Heritage Park

Buying A Home In Nottingham At Heritage Park

Selling A Home In Nottingham At Heritage Park

Relocating to Olathe Kansas

Posted by Jason A. Brown

Overland Park Kansas Real Estate Update – March 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

Using the past 15 days of market stats in the chart below to figure the absorption rate in Overland Park, there’s 8.7 months of inventory currently on the market. This is high but the stats should be taken with a grain of salt since the weather led to low traffic and contracts being written in December and January. It’s also noteworthy that there were 109 homes that went under contract over the past 15 days. If all of those were to make it to closing and we figured the absorption rate in Overland Park on that figure, the days on market would be a vastly improved 4.5 months of inventory.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 195
 $275,831
–
Total Active Listings
 986
–
–
Newest Contracts Written
 109
 $229,700 66
Newest Sold (Closed)
 57
 $233,967 78

* 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.

Should you prefer a longer sales history to figure the months of inventory on the market in Overland Park, we can use the past 12 months instead. Over the past year, there were 2,333 homes sold in the city. Comparing that demand to the 986 home supply we have now, there’s 5.1 months of inventory on the market in Overland Park. If you are considering selling or buying an Overland Park Kansas home, I’d look forward to assisting you. Market conditions are pivotal in most home buying and selling decisions, so please let me know more about your situation and how I can assist you.

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…
Watch Overland Park Street Traffic Live

Posted by Jason A. Brown

Olathe Kansas Real Estate Update – February 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

The past 15 days of  market stats in Olathe KS (see chart below), indicates there’s 14.5 months of standing inventory. Absorption rates allow us to compare the supply and demand of homes in Olathe Kansas. 14.5 months of inventory is extremely high but also consider that 15 days of market stats does not tell the whole story.  These stats are just a snapshot of whats going on recently in Olathe Kansas.  Also, the slow sales rate we’ve seen can be partly attributed to the poor weather we’ve seen in the region dating back to the end of 2009. But we also must consider that a 60-sale per month pace is going to do little to eat up the 869 homes on the market — especially when you consider the pace at which new listings are hitting the market in Olathe (165 in the past 15 days alone).

Type
#
Average $
Avg DOM
Listings Past 15 Days
 165 $230,194
–
Total Active Listings
 869
–
–
Newest Contracts Written
 108 $213,962 98
Newest Sold (Closed)
 30 $237,529 92

* 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 we were to assume that the 108 homes that went under contract would all close (they won’t), the months of inventory would be a greatly improved 4.0 months of inventory. That would be just fine in our current market. If we were to use a full 12 months of Olathe Kansas real estate sale’s history (2,066 homes sold) to calculate the absorption rate, the months of inventory in Olathe would calculate to 5.1 months.

If you’re considering purchasing or selling an Olathe home, I’ll look forward to showing you the market stats specific to your area of interest. We look forward to providing an elite level of commitment to help you make the most informed real estate decisions.

View Past Real Estate Stats On Olathe KS

Buyer’s Agents In Olathe Kansas

Seller’s Agents In Olathe Kansas

Relocating to Olathe Kansas

View All Listed Olathe Homes For Sale

Olathe Kansas Real Estate

Olathe Kansas Real Estate

Olathe Kansas Tip of the Day…
View The Olathe Citizen’s Survey
Posted by Jason A. Brown

Johnson County Kansas Real Estate Update – February 2010

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for Johnson County Kansas
Recent 10 Days of Johnson County KS Market Activity

Using the past 10 days of real estate market stats in the chart below to figure the absorption rate in Johnson County Kansas, there’s 32 months of inventory on the market. That’s not a misprint and seeing just 35 homes close in all of Johnson County Kansas over the past 10 days is concerning. Absorption rates tell us how many months it would take to sell of the current inventory using a recent sales rate figure — in this case using the past 10 days of sales. This is a typically slow time of year for sales, so I would expect the numbers to be weak. But when you think of just a 100 sales per month pace when there’s more than 3,000 homes on the market, that is an eye opener.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 346 $270,189
–
Total Active Listings
 3374
–
–
Newest Contracts Written
 228 $259,931 89
Newest Sold (Closed)
 35 $212,100 85

* 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 10 days from date of this post. DOM = Days On Market.

The number of homes that went under contract was a much improved 228, but even we assume all those would close (and recalculate the absorption rate), there’s still 4.9 months of inventory on the market.  Better, but not great by any stretch. Other eye-openers in these stats are that nearly 350 homes came on the market in just the last 10 days and the average sales price of $212,100 was MUCH below the average list price ($270,189) of the 346 homes that came on the market.

If you’re considering selling or buying an Johnson County Kansas home, you’ll need more than just 10 days of market stats. You’ll also need market stats specific to the area that most interests. As your Johnson County KS Realtor, we can get you the market information you need to make an informed real estate decision.

View Past Real Estate Stats On Johnson County KS

Buyer’s Agents In Johnson County KS

Listing Agents In Johnson County KS

Relocating to Johnson County Kansas

View All Listed Johnson County KS Homes For Sale

Johnson County KS Real Estate

Johnson County KS Real Estate

Johnson County Kansas Tip of the Day…
Search For Licensed Johnson County KS Contractors
Posted by Jason A. Brown

Ravenwood Place Subdivision Market Stats ~ Ravenwood Place Homes For Sale In Olathe KS

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Checking The Pulse Of The Kansas City Real Estate Market
Ravenwood Place Real Estate Market Stats
Ravenwood Place Is A Subdivision In Olathe Kansas

Looking over the Ravenwood Place market statistics dating back to February 2009, 20 homes were put on the market and 13 homes were sold over the same year period. The average sales price in Ravenwood Place was $234,375 and the subdivision saw a sale’s price range of $195,000 to $280,000.

Comparing the 8 Active listings in Ravenwood Place to the 12-month sales rate in the community, there’s 7.4 months of inventory currently on the market. This is a little high but gives homebuyers a large pool of homes  to choose from in the area. The average current list price of $240,706 is also in line with the average sales price during the past 12 months ($234,375), so it could be an excellent time purchase a home in Ravenwood Place. The Ravenwood Place community is a popular Olathe Kansas subdivision and located near parks, dining, shopping and entertainment amenities.

Ravenwood Place In Olathe Kansas

Ravenwood Place In Olathe Kansas

Ravenwood Place is located in the heart of Olathe Kansas and is served by the Olathe School District.  Many of the homes in Ravenwood Place were constructed from 1999 through 2006. If you’re considering selling or buying a home in Ravenwood Place, please contact me for assistance with selling or buying an area home.

View Homes For Sale in Ravenwood Place

Buying A Home In Ravenwood Place

Selling A Home In Ravenwood Place

Relocating to Olathe Kansas

Posted by Jason A. Brown

Northland Kansas City Real Estate Update – February 2010

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for Northland Kansas City
Recent 15 Days of Northland Kansas City Market Activity
Including: homes in the North Kansas City, Liberty & Parkhill School Districts

Using the past 15 days of market stats in the chart below, we can figure the absorption rate for the Northland Kansas City area to be 12.5 months of inventory. Looking at absorption rates helps us compare the supply and demand of real estate in the northland Kansas City area. These market stats include all home communities that are served by the North Kansas City School District, Liberty School District and the Parkhill School District. Having more than a year of inventory is high, but the low number of closed sales the past month can be partly attributed to the time of year and the inclement weather we’ve seen recently.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 304
 $191,766
–
Total Active Listings
 1,833
–
–
Newest Contracts Written
 184
 $171,750 96
Newest Sold (Closed)
 73
 $153,046 119

* 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 was impressive and more than double the number of homes that closed over the same 15-day period. If we used the number of homes that went under contract (assuming they’d all make it to closing), the absorption rate would be a much-improved 4.9 months of inventory in the northland Kansas City area. If you’re considering selling or buying a home in Kansas City, North Kansas City, Liberty, Gladstone or Parkville, please contact us for assistance. We’ll get you the market stats specific to the subdivisions that most interest you and we look forward to assisting you with your home sale or purchase.

View Past Real Estate Stats On Northland Kansas City

Buyer’s Agents In Northland Kansas City

Seller’s Agents In Northland Kansas City

Relocating to the Kansas City Northland

View All Listed Northland Kansas City Homes For Sale

Northland Kansas City

Northland Kansas City

Northland Kansas City Tip…
The Northland is also known as “North of The River” & “North KC”

Posted by Jason A. Brown

Overland Park Kansas Real Estate Update – February 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

Using the past 15 days of market stats in the chart below to figure the absorption rate in Overland Park Kansas, there’s 13 months of inventory currently on the market. This is extremely high and how long it would take to work off the 918 listings at a pace of 70 sales per month.  Take this with a grain of salt however, because the volume of closings we’re seeing right now are partially a reflection of the bad weather we had for a month. Showings were down drastically and without showings, sales obviously suffer. I find optimism in the high number of homes that went under contract — 100 sales is a lot for a 15-day period and if all of those homes were to make it closing (and we used that sales rate to figure the absorption rate), the absorption rate would be a drastically improved 4.6 months of inventory.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 130 $279,724
–
Total Active Listings
 918
–
–
Newest Contracts Written
 100 $275,738 100
Newest Sold (Closed)
 35 $268,160 92

* 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 having thoughts of buying or selling an Overland Park KS home, please contact me for in-depth market information and stats on the areas of Overland Park that most interest you.  Real estate is LOCAL and poor market stats in one community can give way to excellent market stats in the community right next to it. We look forward to assisting you with making an informed real estate decision.

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…
Overland Park Biking and Hiking Trails
Posted by Jason A. Brown