Checking The Pulse Of The Kansas City Real Estate Market
My association of Realtors has released June’s real estate stats and the information is not favorable for home sellers. Home sales fell nearly 15% in June compared to June 2010’s sales. The raw numbers were 2,990 home sales state-wide in June compared 3,511 homes sold June 2010. The volume of home sales across the U.S. during the same months fell 8.8%.
When we compare the 19,665 homes for sale in Kansas (at the end of June) to the 2,990 homes sold during the month of June, we find there was 6.6 months of inventory on the market in the state of Kansas at the end of June. 6.6 months of inventory indicates the summer of 2011 continues to be a strong buyer’s market. The average sales price across the state in June was nearly $166,000 and down just slightly from June 2010.
Locally in Johnson County Kansas, the market remains stabilize. 815 homes were sold in Johnson County Kansas this June. Compare that volume of monthly sales to the 4,072 homes currently for sale in Johnson County Kansas and we find there’s 5.0 months of inventory in Johnson County. That amount of inventory is considered a stable real estate and indicates that Johnson County Kansas remains a very solid real estate market in the Kansas City area.
Posted by Jason Brown
