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.

* 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.

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Posted by Jason A. Brown