Checking The Pulse Of The Kansas City Real Estate Market

The number of home sales across the state of Kansas rose 5.8% in March 2010 in comparison to March 2009. This according to the recently released report from my Kansas Association of Realtors. The raw numbers were 2,375 sold properties in March, which was an increase from the 2,244 sold properties in March 2009. The rise in Kansas wasn’t nearly as good as the national average however. Home sales across the U.S. were up 16% March 2010 over March 2009. Comparing the number of homes on the market in Kansas (18,000+) to the sales rate in March indicates there’s 7.6 months of inventory on the market in Kansas.

Here locally in the Kansas City metro area, we had 2,364 home’s sold in March of this year. In March of 2009, there were 2,126 sales. This roughly 11% increase puts us slightly closer to the national figure than the state increase.  The tax credit closings coming through the end of June, should continue driving home sales (closings). What’s in store come mid-summer, after the tax credit is long gone, is the situation that home sellers, home buyers and real estate agents will be watching closely.

Posted by Jason A. Brown