Category Archives: City Market Stats

Kansas City Market Statistics, Kansas City Real Estate Market Update

Olathe KS Real Estate Update – January 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 past 15 days of market stats in the chart below, the absorption rate in  Olathe Kansas is 16 months. That’s the highest I’ve seen it in the past 2 years. The problem is obviously a demand of 50 sales a month in the city when there’s 800 homes on the market. While this is alarming, do keep in mind the extreme weather we’ve had the past month led to very few contracts being written and, as such, we’re seeing few closings 30 days later. In fact, I don’t remember the last time I saw the contracts written stats in any city so much better than the homes sold (closed) stats.  84 homes went under contract over the same 15-day period and if we were to use that stat to figure the absorption rate (assuming they all will close), then the absorption rate would be a much improved 4.8 months of inventory.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 119 $223,020
–
Total Active Listings
 801
–
–
Newest Contracts Written
 84 $216,320 92
Newest Sold (Closed)
 25 $236,615 89

* 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.

Keep in mind that 15 days of market activity is a small snap shot of what’s going on with Olathe Kansas real estate. If you’re considering an Olathe Kansas home purchase or home sale, please contact me  for the market statistics specific to your Olathe KS subdivision or area. I look forward to discussing the comparable market statistics and general market conditions that will affect your buying or selling decisions.

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Buyer’s Agents In Olathe Kansas

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Relocating to Olathe Kansas

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Olathe Kansas Real Estate

Olathe Kansas Real Estate

Olathe Kansas Tip of the Day…
Olathe Kansas Crime Map
Posted by Jason A. Brown

Shawnee KS Real Estate Update – January 2010

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

Using the past 15 days of Shawnee Kansas market statistics (see chart below), we can figure the absorption rate in  Shawnee to be 10.4 months of inventory on the market. This is high and indicates there’s too much supply for the current demand we’re seeing. Keep in mind this is a slow time of years for sales and looking at 15 days of market stats is simply a glance at what’s going on in Shawnee. Market stats can also change quickly and if all 24 Pending sales were to close (and we used that figure instead to figure the absorption rate), there would be 6.5 months of inventory on the market. So things can change quickly.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 47 $255,172
–
Total Active Listings
 312
–
–
Newest Contracts Written
 24
 $225,247 155
Newest Sold (Closed)
 15
 $243,250 208

* 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 of $243,250 is solid compared to the average list price of $255,172 over the same period. I am concerned that the 24 homes that went under contract had an average list price of $225,247. If you’re considering selling or buying a Shawnee Kansas home, you’ll need more than just 15 days of market stats. You’ll also need market stats specific to the area that most interests you. Real estate is certainly LOCAL, so never rely solely on city-wide statistics when making a buying or selling decision. Please let me if you need personalized real estate information.

View Past Real Estate Stats On Shawnee Kansas

Buyer’s Agents In Shawnee Kansas

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Shawnee Kansas Real Estate

Shawnee Kansas Real Estate

Shawnee Kansas Tip of the Day…
Shawnee Kansas In The News
Posted by Jason A. Brown

Leawood KS Real Estate Update – January 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 Kansas Market Activity

Using the past 15 days of Leawood KS real estate stats in the chart below, we can figure Leawood’s real estate absorption rate. At a sales rate of 22 sales per month in the city, that figures to 12.9 months of inventory on the market. Absorption rates help us analyze the supply and demand of inventory by using recent sales rate compared to current  inventory in a given area. What we continue to see in Leawood Kansas is too little demand for the amount of inventory that’s on the market. Do keep in mind that we’re in an extremely slow time of year for real estate sales, especially considering we’re in the midst of one of the worst winter weather months in recent memory.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 21
 $379,807
–
Total Active Listings
 284
–
–
Newest Contracts Written
 11
 $584,245 166
Newest Sold (Closed)
 11
 $505,110 179

* 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. 1/20/10: corrected a typo in the Sold line.

One item I find very interesting is that the average list price the past 15 days was way below the average sales price over the same period. This is the first time I’ve seen that in a very long time in Leawood Kansas and it appears area home sellers are pricing their homes more aggressively in recent weeks. If you’re considering selling or buying a Leawood Kansas home, we can provide you detailed market stats on all subdivisions that interest you.  When you’re ready, please let me know how we can assist you.

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Buyer’s Agents In Leawood KS

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Leawood Kansas

Leawood Kansas

Leawood Kansas Tip of the Day…
Restaurants In Leawood Kansas
Posted by Jason A. Brown

Overland Park KS Real Estate Update – January 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

This is a tricky time of year to be looking at real estate market stats, but using the past 15 days of market stats in the chart below, we can figure the absorption rate in  Overland Park KS to be 12.5 months of inventory on the market. This is very high but keep in mind that very few real estate closings are typically scheduled during the holiday season. We’ll check these stats again in a few weeks and see how much improvement there is. There was good news to be found in the 35 sales we did see, as the average sales price was almost $13,000 higher than the homes that came on the market over the same period. The average days on market (63) of the homes that sold was very reasonable, however the homes that went under contract were on the market about twice that long (131 days).

Type
#
Average $
Avg DOM
Listings Past 15 Days
 52 $247,970
–
Total Active Listings
 880
–
–
Newest Contracts Written
 43 $235,913 131
Newest Sold (Closed)
 35 $261,770 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 you’re considering buying or selling a home in Overland Park Kansas, we’ll want to go over more than just a couple of weeks of market statistics. Let us know more about your specific real estate situation. Doing so will allow us to provide you market statistics relevent to YOUR real estate situation. We look forward to helping you make an informed real estate decision.

View Past Real Estate Stats On Overland Park KS

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Overland Park KS Real Estate

Overland Park KS Real Estate

Overland Park Kansas fact…
Home to Sprint Nextel, YRC Worldwide, Embarq, Applebees & Black & Veatch

Posted by Jason A. Brown

Olathe Kansas Real Estate Update – December 2009

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Hands On The Heartland
 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

Using the past 15 days of market stats in the chart below, the absorption rate in Olathe Kansas is currently at 8.8 months of inventory. Absorption rates consider the supply (Active listings) versus demand (average number of homes sold during a given period) in Olathe Kansas. I consider 5 to 7 months of inventory to be a neutral real estate market, so 8.8 months of inventory means Olathe KS is still very much in a Buyer’s market. The city will need to pick up the sales rate in the new year to work off 800+ homes of inventory and start stabilizing the Olathe Kansas real estate market.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 45
 $211,714
–
Total Active Listings
 806
–
–
Newest Contracts Written
 46
 $209,600 94
Newest Sold (Closed)
 46
 $246,308 96

* 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 moving to, from or within Olathe KS, please let me know what area’s of Olathe interest you most. If you’re  unsure about your options, let me know more about your price range and home style preferences and I’ll email you the Olathe home communities I think best fit your needs. I can also you send a link to ALL Olathe homes that appear to fit your search parameters. As your Olathe Kansas Realtor, we’re always working for YOU.

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Buyer’s Agents In Olathe KS

Seller’s Agents In Olathe KS

Relocating to Olathe KS

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Olathe Kansas Real Estate

Olathe Kansas Real Estate

Olathe Kansas fact…
In 2008, Money Magazine ranked Olathe KS #11 in the Top 100 Cities To Live In The U.S. — Wikipedia
Posted by Jason A. Brown

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Should We Be Optimistic About The Kansas City Real Estate Market As We Head Into 2010?

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Checking The Pulse Of The Kansas City Real Estate Market

My Kansas City Regional Association of Realtors reports more good than bad news in its look back at November’s real estate statistics. So if your cup is HALF FULL, be sure to read the rest of this paragraph.  (If you’re cup is half-empty skip to paragraph 2.) You’ll be happy to hear that home sales rose nearly 62% in November of this year (2,548 sales) compared to November 2008 (1,518 sales). New home sales in November were up 16% when compared to October and up almost 52% when compared to November 2008.  November existing home sales were up almost 63% compared to November 2008. The average priced home in November was right at $160,100 after seeing an average sales price of $155,000 in November 2008. The average existing home sale’s price was $148,000 in November after an average home sale’s price of $136,000 the year before. New home inventory decreased  39% from the previous November —  with 2,091 current spec homes reported available. Resale inventory fell 7.4% in November — 12,568 homes compared to 13,568  in November 2008. The entire Kansas City metro area had 6.8 months of inventory on the market in November, which was a large improvement over the 7.4 months of inventory reported in October of this year.


Now, if your cup is HALF EMPTY, Kansas City Regional Association of Realtors reports that Kansas City home sales fell almost 4% when comparing November sales this year (2,454) to October’s sales (2,548).  November existing home sales were down 5.5% compared to October of this year. The average new home sales price in November was around $280,000 and much below the $325,000 average new home sales price in November 2008.

With seemingly more good news than bad news in this report, could a Seller’s market be around the corner? I think we’re still at least a couple of years from serious discussions about a Seller’s Market. But  who knows? Real Estate trends can move swiftly and deals of a lifetime will be made by those who take risks before the tide turns.  I think for now we should set our sites on a neutral real estate market. Most experts consider 6 months of inventory to be the balance between a Buyer’s Market and a Seller’s Market. If we are to believe that then that means there’s no middle ground – meaning no neutral market is attainable. That’s why some insiders consider 5 to 7 months of inventory to be a neutral playing field. If you agree, then the 6.8 months of inventory we currently have could indicate our entrance into a neutral real estate market. We’ll have to sustain that trend to prove it’s not just a fluke but if we are indeed heading into a neutral real estate market, that would be music to many Home Seller’s ears.

Note: all dollar figures have been rounded to keep your mind from short-circuiting.
Posted by Jason A. Brown

Lenexa Kansas Real Estate Update – December 2009

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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 past 15 days of market stats in the chart below to figure the absorption rate in Lenexa Kansas, there’s 11 months of inventory on the market. Absorption rates tell us how much demand (Buyers) there are for our current supply of homes for sale. 11 months of inventory is very high and these conditions make it an excellent Buyer’s market in Lenexa right now. Keep in mind these absorption rates can improve quickly when using just 15 days of sales as the basis for figuring the absorption rate. For example, if there had been 24 sales instead of 12 over the past 15 days, then the absorption rate would have calculated to 5.5 months of inventory.

Type
#
Average $
Avg DOM
Listings Past 15 Days
 21
 $270,276
–
Total Active Listings
 266
–
–
Newest Contracts Written
 19
 $285,816 52
Newest Sold (Closed)
 12
 $259,753 137

* 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.

If you’re considering selling or buying a Lenexa Kansas home, you’ll need more than just 15 days of market stats. You’ll also need Lenexa market stats specific to the subdivision or area that you’re considering. As a Lenexa Kansas Realtor, we work daily to help our home buyers and sellers with all their Lenexa Kansas real estate needs.  Please let us know how we can assist you with your specific real estate situation.

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Lenexa Kansas Real Estate

Lenexa Kansas Real Estate

Lenexa Kansas fact…
The Santa Fe Trail cut through Lenexa Kansas
Posted by Jason A. Brown

Prairie Village Kansas Real Estate Update – December 2009

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Prairie Village Kansas
Recent 15 Days of Prairie Village KS Market Activity
Type
#
Average $
Avg DOM
Listings Past 15 Days
 20
 $182,583
–
Total Active Listings
 142
–
–
Newest Contracts Written
 7
 $250,686 102
Newest Sold (Closed)
 11
 $199,455 58

* 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.

Prairie Village KS Real Estate

Prairie Village KS Real Estate

Using the past 15 days of market stats in the above chart, we can figure the absorption rate in Prairie Village to be 6.4 months of inventory on the market. Looking at absorption rates provides valuable information on the supply and demand of real estate in Prairie Village. 6.4 months of inventory is high and clearly it’s a Buyer’s market in Prairie Village. But 6 months of inventory isn’t like the upper bracket communities where some are seeing 2 years of inventory on the market. It’s also good to see such a high average price ($250,686) for the 7 homes that did go under contract the past 15 days. That’s much higher than the $199,455 average sales price over the same period. The 20 homes that came on the market also appear priced well overall.

Prairie Village is an excellent community for home buyers who want reasonably priced homes that have character and intangibles like tree-lined streets. If you’re considering selling or buying a Prairie Village Kansas home, you’ll need more than just 15 days of market stats. You’ll also need to see the market stats specific to the subdivision, zip code (and sometimes even the block)  that  interests you most. As your Prairie Village Realtor, we’ll get you the market information you need to make an informed real estate decision.

View Past Real Estate Stats On Prairie Village Kansas

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Posted by Jason A. Brown

Kansas City Real Estate Update – December 2009

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Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Kansas City
Including zip codes 64114, 64131, 64145 & 64146
Recent 15 Days of Southwest Kansas City Market Activity
Type
#
Average $
Avg DOM
Listings Past 15 Days
 7
 $104,550
–
Total Active Listings
 129
–
–
Newest Contracts Written
 9
 $192,811 193
Newest Sold (Closed)
 4
 $240,375 117

* 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.

Kansas City Real Estate

Kansas City Real Estate

Using the past 15 days of market stats in the above chart, the absorption rate in southwest Kansas City figures to 16.1 months of inventory on the market. There’s just no good way to spin this and this market must pick up the pace of 8 sales per month if it’s to eat up the 129 listings in any reasonable amount of time. Whenever I see market stats  so out of whack I like to go back a little further than 15 days on the sales history and then recalculate the absorption rate.  In the last 60 days there were 31 sales and using this sales rate (rather than the past 15 days), it calculates to 8.3 months of inventory on the market — better, but still high.

It’s certainly a buyer’s market in Kansas City and whether you’re considering selling or buying a Kansas City home, you’ll want more than just 15 days of market stats.  The above market stats also take into account single family homes, condos, townhomes, etc. Contact us to request market stats that are more specific to the real estate you are considering purchasing or selling.

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Posted by Jason A. Brown

Overland Park KS Real Estate Update – December 2009

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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
Type
#
Average $
Avg DOM
Listings Past 15 Days
 94
 $301,772
–
Total Active Listings
 938
–
–
Newest Contracts Written
 60
 $264,243 115
Newest Sold (Closed)
 88
 $247,933 108

* 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.

Realtor For Overland Park Kansas

Realtor For Overland Park Kansas

Using the past 15 days of Overland Park Kansas real estate market stats in the above chart to figure the city’s absorption rate, there’s currently 5.3 months of inventory on the market.  This is the highest I’ve seen in a while in Overland Park but the fact that there were almost as many homes sold as coming in the market is a promising sign. The average sales price of $247,933 was however much lower than the $301,772 average list price over the same 15-day period. For the homes that are selling (and going under contract too), the days on market is under 4 months. This is a reasonable amount of time in our current real estate market.

If you’re considering selling or buying an Overland Park Kansas home, you’ll need more than just 15 days of market stats — you’ll certainly want to view the market stats on the subdivision(s) that most interest you. As your Overland Park real estate agent, we’ll get you the information you need to make an informed real estate decision.

View Past Real Estate Stats For Overland Park Kansas

Buyer’s Agents In Overland Park KS

Seller’s Agents In Overland Park KS

View All Listed Overland Park KS Homes

Answers To Common Overland Park KS Questions

Posted by Jason A. Brown