Checking The Pulse Of The Kansas City Real Estate Market
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Posted by Jason Brown
Tag Archives: Kansas City Realtors
25th Straight Month of Rising Home Sales Volume In Kansas
Checking The Pulse Of The Kansas City Real Estate Market
The recently released Kansas Association of Realtor real estate market stats (covering August home sales activity) show a continued strengthening of the housing market in Kansas. Compared to last August, home sales volume increased 7.2%. This increase follows an even larger 17.8% increase at last month’s real estate check.
The state of Kansas has been in a seller’s market for several months and there’s 4.5 months of inventory on the market at this check. This is up from the 4.1 months of inventory at last month’s check yet remains a seller’s market. Average home sales prices rose 7.6% compared to August of last year and this follows up an 9.3% increase at our check last month. Kansas has now had 25 straight months of year over year increases in home sales volume.
In Johnson County Kansas, a seller’s real estate market also continues with 702 homes sold (closed) during the past month. Factored against the current volume of homes for sale in Johnson County Kansas, there’s 3.4 months of inventory on the market for home buyers to consider. This amount of inventory indicates the presence of a strong seller’s market as we head into the winter months.
Posted by Jason Brown
Kansas and Missouri Are 2 Of The Top 5 States For Lowest Mortgage Closing Costs
Checking The Pulse Of The Kansas City Real Estate Market
Interest rates are still at historical lows, the market in the metro area is as solid as it’s been in nearly decade and there’s yet another reason to buy a home in Kansas City, Johnson County KS, Overland Park and the surrounding area… Mortgage loan closing costs associated with home purchases in the metro area are some of the lowest in the country.
Bankrate.com has published the results of its 2013 survey on closing costs by state, looking for which states had the lowest fees for items such as loan origination charges, credit report charges, etc. Kansas and Missouri were two of the top 5 states in the country, with Missouri coming in 2nd at an average of $2,188 per transaction and Kansas coming in 3rd at $2,193 per transaction. The national average was $2,402 in closing costs and Wisconsin had the lowest closing costs at $2,119.
Posted by Jason Brown
Kansas City Real Estate Trends And Lifestyles… July 2013
Checking The Pulse Of The Kansas City Real Estate Market
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Posted by Jason Brown
Kansas City Real Estate News, Trends And Lifestyles Of The Rich And Famous… June 2013
Checking The Pulse Of The Kansas City Real Estate Market
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Posted by Jason Brown
Johnson County Kansas Has Dipped Down To Just 2.1 Months Of Home Inventory On The Market
Checking The Pulse Of The Kansas City Real Estate Market
The most recently released Kansas Association of Realtors stats (for the month of April) indicates further strengthening of the state-wide real estate market. Home sales volume continue to rise, as does resulting home sale prices. During the month of April in Kansas, homes sales increased 7.8% compared to April of last year. This follows up the previous months 4.1 increase.
At last months check, the state was also in a balanced real estate market but nearing a seller’s market (with 5.3 months of inventory). This month there is 5.2 months of inventory on the market and thus another small step towards a seller’s market. The rise in home sale prices was more impressive than the increase in volume of home sales, with average sales price rising an incredible 13.7% compared to April of last year. This follows up last months 9.0% increase in sale prices in Kansas.
Locally in the Johnson County Kansas area, the real estate market continues to heavily favor home sellers. Over the past month there were 1,132 homes sold (closed) and comparing this sales rate against the current volume of homes for sale, it calculates to just 2.1 months of inventory on the market. This is an improvement over last month’s already seller dominant 2.9 months of inventory. Johnson County Kansas clearly remains in a strong seller’s real estate market.
Posted by Jason Brown
10 Straight Months Of A Balanced Real Estate Market In Kansas And Inching Towards A Seller’s Market
Checking The Pulse Of The Kansas City Real Estate Market
The most recently released state-wide real estate housing stats (December’s stats) show the state of Kansas had continued improvements in both average sales prices and volume of homes sold (closed). Home sales increased 15.9% in December compared to December 2011. This is another huge jump in sales and follows up last month’s 23.2% increase.
Average home sale price rose 6.5% compared to December of last year. This jump in homes sold follows up last month’s 5.0% increase. December’s sales rate compared to the volume of homes for sale calculates to 5.3 months of inventory on the market. This is a slight improvement on last month’s 5.4 months of inventory. Both calculations represent a balanced real estate market and show a further trend towards a seller’s market. This is the tenth straight month that Kansas has been in a balanced real estate market.
Locally here in Johnson County Kansas, the real estate market remains solid and in the past 30 days there were 408 homes were sold. Comparing this sales rate against the current volume of homes for sale, there’s 5.0 months of inventory on the market. This is higher than last months 3.7 months of inventory yet not surprising given the homes sale stats include the holiday season. The current amount of inventory in Johnson County represents a balanced market and very nearly a seller’s market.
Posted by Jason Brown
Statewide Real Estate Market Is Stable, While Johnson County’s Seller Market Strengthens
Checking The Pulse Of The Kansas City Real Estate Market
The Kansas Association of Realtors has released the state’s August real estate market stats and they show continued improvements for housing in both average home sales prices and volume of home sales. Across Kansas, home sales rose 12.3% compared with August 2011. This is another impressive jump that follows up on last month’s 14.1% improvement in numbers of homes sold.
Average sales prices rose 3.8%, following up on last months 3.5% jump. Using the August sales rate compared against the volume of homes for sale at the time the stats were pulled, there’s 5.2 months of inventory on the market. The stats a month ago showed Kansas with 5.3 months of real estate inventory. Kansas has remained firmly in a balanced real estate market the past six months.
The local real estate market here in Johnson County KS is exceptionally strong as home sales have remained firm and there’s been no glut of listings hitting the market in recent months. In August there were 922 homes sold and using that sales rate (compared to the current volume of homes for sale in Johnson County Kansas), there’s 3.0 months of inventory on the market. When we checked last month there was 3.1 months of inventory on the market in Johnson County, both stats indicating a solid home seller’s market in the area.
Posted by Jason Brown
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
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