Newly Released Kansas Real Estate Stats Show Continued Improvement In Sales Prices And Sales Volume

Checking The Pulse Of The Kansas City Real Estate Market


The July real estate market stats for Kansas have been posted by the local association of Realtors and show continued improvements for housing in both volume of home sales and in average sales prices. Across Kansas, home sales rose 14.1% compared with July 2011. This impressive jump follows up on last month’s 8.7% improvement in volume of home sales.

Average sales prices rose 3.5%, following up on last months 6.0% jump. Using July’s sales rate compared against the volume of homes for sale at the time the stats were pulled, there’s 5.3 months of inventory on the market. The stats a month ago showed Kansas with 5.1 months of real estate inventory, both of which represent firmly balanced real estate markets. This makes four months in a row that Kansas has been in a balanced real estate market with stabilized property values.

The local Johnson County Kansas real estate market has remained exceptionally strong. In July there were 939 homes sold. Comparing that sales rate to the current volume of homes for sale in Johnson County Kansas, there’s 3.1 months of inventory on the market.  This is virtually the same as when we checked last month as Johnson County Kansas continues to remain in a seller’s real estate market.  


Posted by Jason Brown

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Johnson County Kansas Real Estate Market Stats – September 2012 Update

Checking The Pulse Of The Kansas City Real Estate Market

Johnson County Kansas Real Estate Update
Recent Real Estate Activity In Johnson County KS

Using the past 15 days of real estate sales activity in Johnson County Kansas to calculate the city’s absorption rate, we find there’s 4.5 months of inventory currently on the market. This amount of inventory is considered a slight seller’s real estate market in Johnson County. The average sales price of the last 318 homes sold in Johnson County Kansas was nearly $264,000, while the average new listing came on the market at close to $283,000.

Type # Average $ Avg DOM
Listings Past 15 Days 439 $283,377
Total Active Listings 2,879
Newest Contracts Written 347 $239,810 85
Sold (closed) Past 15 Days 318 $263,897 113

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The homes sold (closed) the past 15 days in Johnson County Kansas were on the market an average of 113 days. We assist Johnson County home buyers and home sellers every day, so if you’re considering purchasing or selling a home the Johnson County area, please contact us for assistance. Here’s details regarding selling a Johnson County Kansas home and buying a Johnson County Kansas home

Johnson County Kansas Relocation Guide

View Homes For Sale In Johnson County KS

View More Johnson County KS Real Estate Stats

Buyer’s Agents In Johnson County KS

Listing Agents In Johnson County KS


Posted by Jason Brown

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Reduced Volume Of Shadow Inventory Is Good News For Kansas City Home Sellers

Checking The Pulse Of The Kansas City Real Estate Market

Shadow inventory is a combination of foreclosure listings that haven’t yet hit the market and seller’s who are behind 90+ days on their mortgage payments. In other words, these are the distressed homes that are VERY likely to be on the market in the near future. As such, they need to be factored into the equation when evaluating how the housing market is doing. While home sellers may view shadow inventory as a good thing in the short-term (because it’s fewer homes on the market now), overall these listings are bad news because most of them WILL eventually hit the market. 

A report by CoreLogic shows that shadow inventory stands at a 5 month supply, down from 6 months of shadow inventory a year ago and the current figure is well below the 8.4 months of shadow inventory at the January 2010 peak. Despite the improvements in shadow inventory, home prices have continued to decline nationally, according to the CoreLogic report. But that is sure to change if improvements like the reduction in shadow inventory continue.


Posted by Jason Brown

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Kansas Real Estate Market Sees Continued Improvement And Johnson County KS Achieves A Balanced Real Estate Market

Checking The Pulse Of The Kansas City Real Estate Market


The March housing market stats for Kansas have been posted by the KS Association of Realtors and they show a continuation of the improvement we saw when the February stats were released last month. State-wide, home sales rose 11.6% compared to March of 2011, following up on last month’s 18.6% surge. Nationally, home sales increased an average of a 5.9% showing that Kansas continues to far outpace much of the rest of the nation in the stability of our local housing market.

Even more impressive was the average sales price in March. Recently we’d seen home sales increasing (a great sign) but average sales prices had remained flat. But in March the continued increase in homes sales finally had an affect on sales prices with the average sales price rising an impressive 10.5% compared to March of last year. Using the March sales rate to compare against the volume of homes on the market, there’s approximately 6.8 months of real estate inventory. This is a big improvement over last month’s 8.9 months of inventory. The current amount of inventory is still a buyer’s market but pushing ever closer towards a balanced real estate market for home buyers and home sellers.

Locally in Johnson County Kansas, the March stats were also solid. There were 665 homes sold during the month and comparing that sales rate to the 3,108 homes currently for sale in Johnson County Kansas calculates to 4.7 months of inventory on the market. That amount of inventory indicates a balanced real estate market in Johnson County Kansas and that’s great news for Johnson County Kansas home sellers. It appears were headed towards a solid spring real estate market in Johnson County Kansas and many of the surrounding Kansas City metro ares that we serve.


Posted by Jason Brown

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Short Sales Surpass Foreclosures… What It Means When Buying A Kansas City Home

Checking The Pulse Of The Kansas City Real Estate Market

Many lenders holding notes on homeowners who are about to default on their loans have realized it makes sense to try to work out the best possible deal BEFORE the homeowners move out of the home and/or give up and move on with their lives. Doing so can help keep the lender from having to deal with yet another REO asset on their books. It’s really not a matter of whether the lender is going to lose or not, because they ARE going to lose. Rather, it’s about accepting the lesser of the two evils and that’s led to Short Sales surpassing foreclosures as it relates to distressed home sales.

Bloomberg reported that nearly 24% of distressed sales today are Short Sales, while nearly 20% are foreclosures. The Bloomberg report shows that the average Foreclosure listing sold for 29% less than non-distressed comparable homes, while the average Short Sale sold for 23 percent less, so you can see the advantages some lenders are realizing by accepting Short Sales in today’s real estate market. Given this info, Short Sales are sure to be a prevalent type of listing for the foreseeable future.

While more Short Sales are getting approved, it doesn’t mean the process is easy. In fact, it’s just the opposite. The Short Sale process is NOTHING like buying a bank property because with bank properties, more or less, they can be closed in a predictable time fashion (once you’re able to get the home under contract). But a Short Sale requires getting the seller’s lender to approve of the Short Sale and that’s no easy task. A lender accepting a Short Sale means the lender accepting less than the full amount the seller owes on the home… and no lender is required to accept ANY Short Sale. They have the right to foreclosure on a property if a seller stops paying back their loan and they will exercise that right if they feel it best serves the lender’s interests. 

I’ve seen estimates vary greatly but it’s generally accepted that more than half of Short Sale listings never make it to the closing table. Think about that for a moment before you consider engaging in purchasing a Short Sale. Home sellers NEED a patient buyer who is willing to wait it out for as long as necessary to see if a Short Sale can be obtained. From the buyer’s perspective, there’s really no reason to mess with a Short Sale if you’re not patient because Short Sales are never closed in any predictable time-frame. I network with many top agents and the consensus is the average Short Sale listing that closes takes more than 4 months to do so… And that’s the Short Sales that DO close.


Posted by Jason Brown

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Johnson County Kansas Real Estate Update – November 2011

Checking The Pulse Of The Kansas City Real Estate Market

Real Estate Statistics On Johnson County Kansas
15 Day Glance At The Johnson County KS Real Estate Market

After calculating the absorption rate over the past 15 days in Johnson County Kansas, we find the area has 10.2 months of inventory currently on the market. This amount of inventory is considered a buyer’s market. When we looked at Johnson County’s real estate stats in April, we found 7.1 months of inventory at that time. There’s fewer homes on the market now than there was in April, so the increase can be completely attributed to a slower sales rate — during the past 15 days 167 homes were sold (closed), while during the 15-day period back in April 274 homes sold.

Type # Average $ Avg DOM
Listings Past 15 Days 367 $287,296
Total Active Listings 3,499
Newest Contracts Written 264 $238,285 136
Newest Sold (Closed) 167 $254,518 151

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The average priced new listing to come on the market the past 15 days was in line with the average sales price over the same period. This will provide many Johnson County home buyers with excellent options to consider. The volume of homes that went under contract the past 15 days was an impressive 264 and if all those homes make it closing, it should go a long way towards reducing the months of inventory of homes on the market.

If you are making plans to buy or sell a home in Johnson County Kansas, my group will guide you through the home buying or home selling process. Here’s info on how we can assist you with selling a Johnson County Kansas home and with buying a Johnson County Kansas home.  Please contact us with questions!

Johnson County Kansas Relocation Information

Search Johnson County Kansas Homes For Sale

View Additional Real Estate Stats On Johnson County KS

Our Johnson County Kansas Buyer’s Agent Services

Our Johnson County Kansas Listing Agent Services


Posted by Jason Brown

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Volume Of Home Sales In Kansas During September Outpaces Rest Of The U.S.

Checking The Pulse Of The Kansas City Real Estate Market

The final September stats released by the Kansas Association of Realtors shows another huge improvement for the state of Kansas real estate market. Home sales rose 12.2% during the month compared to September of 2010. The volume of home sales across the state went from 2,205 last September to 2,473 in September of this year. The increase in sales is helping eat up housing inventory, thus reducing the supply of homes. That is key factor needed to stabilize house prices. Still, despite the increase in homes sales, the average sales price during the month of September did fall 0.4%. But this easily outpaced the rest of the U.S., where average sales price fell 3.5%.

Factoring in the 18,812 homes for sale in Kansas at the end of September against a sales rate of 2,473 homes sold (in September), we find 7.6 months of inventory on the market in Kansas at the end of September. This amount of inventory indicates a continuation of the buyer’s market in Kansas, making it a great time for buyers to get a great deal when buying a home. 

In Johnson County Kansas, the September stats look even better than across the state. 638 homes were sold in Johnson County Kansas during September and factoring that against the 3,597 homes currently for sale in Johnson County Kansas, it calculates to 5.6 months of inventory on the market in Johnson County. This amount of inventory is considered a balanced real estate market, meaning Johnson County continues to be one of the strongest real estate markets in the Kansas City area and across the state of Kansas. 


Posted by Jason Brown

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Keller Williams Realty Office In Overland Park Leading The Pack In Closed Johnson County KS Listings

Checking The Pulse Of The Kansas City Real Estate Market

Through the first five months of 2011, my Keller Williams Overland Park office has sold more listings than any other real estate office in the entire Johnson County Kansas area. This considers all offices reporting to the Kansas City MLS, including all individual offices with Reece and Nichols, Re/Max, Prudential, Realty Executives, Century 21, ERA, Weichert, etc.

Keller Williams Realty Partners in Overland Park topped all offices with 179 closing listings 1/1/2011 through 5/31/11. The other top 4 offices in closed listings were Realty Executives (168), Reece and Nichols Overland Park (163) and Prudential Kansas City Realty (149). If you’re considering selling your Johnson County Kansas home, please contact me to discuss your home selling situation and how I can help you net the most in your home sale… and get it done in an ultra-organized fashion.


Posted by Jason Brown

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Johnson County Kansas Real Estate Update – April 2011

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

After calculating the absorption rate over the past 15 days in Johnson County, we find there’s currently 7.1 months of inventory on the market. This is a positive trend and since there’s more – not less – homes for sale than when we last looked at the Johnson County market, the improvement can be chalked up to an increased sales rate. Although 7.1 months of inventory is indicative of a buyer’s market, it’s not far from what most would consider a stable real estate market. Once the volume of distressed properties coming on the market slows, it’s seems that home prices could stabilize pretty easily due to the continued demand for homes in the area.

Type

#

Average $

Avg DOM

Listings Past 15 Days

629

Total Active Listings

3,867

Newest Contracts Written

410 $235,979 121

Newest Sold (Closed)

274 $227,588 163

* 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 could be more good news in the 410 homes that went under contract in Johnson County the past 15 days. If we took the leap of faith and assumed that all of those homes would make it to the closing table (and used that figure to calculate the absorption rate), it would calculate to 4.7 months of inventory currently on the market. If your real estate goals involve buying or selling a home in Johnson County Kansas, please contact me for assistance. Our group helps buyers and sellers achieve their real estate goals every day and we look forward to assisting you.

View More 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 Kansas Homes For Sale

Johnson County Kansas

Johnson County Kansas

Featured Johnson County Kansas Link…
Johnson County’s Vision For 2030
Posted by Jason A. Brown

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Do Realtor Designations Really Mean All That Much?

Checking The Pulse Of The Kansas City Real Estate Market

I’ve never found Realtor designations to be of much importance.  When I first got into the business back in the early 1990’s, I “earned” a couple of designations. It wasn’t a memorable experience however. One thing I do remember about getting those designations was how they didn’t really make me feel I was all the sudden a much better Kansas City real estate agent. From that point forward I swore off Realtor designations.

Well, I did earn one more designation that year. It was the School of Hard Knocks designation and that one was well-earned. But even that designation isn’t being flaunted on my business card or web site. I’ve never considered going and getting a bunch of designations so I could bring them up during a listing presentation or at an initial buyer consultation.  Clients never asked me about them and I concluded they had little redeeming value.

Yet to this day many agents swear by them. I’ve heard enough good things to make me think the E-Pro designation could provide a good value proposition to many agents. But since I’m already a leading online Realtor and teach classes on having an online presence, I’m sure it would prove remedial to me. This is reinforced by many agents I know who have the E-Pro designation not having a great grasp on how to implement the tools that will put their buyers and sellers at an advantage in their real estate transactions. So please pardon me if I’m skeptical.

I don’t want to completely discount designations though. Any education that an agent receives in getting a designation is beneficial. I’ve also heard that the GRI is a long process and that must mean there’s some real learning going on there. Some agents won’t send a referral to an agent without the CRS designation. If that’s true I’ve no doubt lost some referral opportunities. But the majority of the others aren’t much more than a several hundred-dollar check and a pre-printed designation handed at the conclusion of the class.

The SHK designation I previously mentioned is what I’d be looking for if I need an agent in another state to help me purchase a vacation home.  That means experience folks. Let me ask you this… Would you prefer your pilot to have graduated middle of the class but have years of experience or would you prefer a pilot who graduated at the top of their class but is making their maiden flight?

Experience is the key to helping clients buy and sell real estate. If you’re new to the business and lack experience, you have to try to make up for it with effort and persistence, until you have the experience. When a new potential client wants to find out whether I know what I’m doing, they ask about my experience – not about what designations I have. They also want to know I care about their success and that I’m creative and cutting edge in helping them accomplish their goals. They don’t want to know how much I’ve spent on trendy designations.


Posted by Jason A. Brown