Checking The Pulse Of The Kansas City Real Estate Market

I about fell out of my chair when I saw that Kansas home sales jumped over 40% in April. That is incredible and it was a great month for home sales state-wide. Of course the jump is directly related to the tax credit that ended at the end of April, but you can’t argue with the results. A 42.5% jump from April 2009 over April 2010 certainly helped to work a lot of inventory of the market… and the less homes there are for sale, the quicker we’ll achieve a stable Kansas City real estate market.

When you compare the 42.5% jump to the national average of 22.8%, it’s even more impressive. The raw numbers, as reported by my Kansas Association of Realtors (KAR), shows there were 3,242 homes sold this April, compared to 2,275 in April 2009. KAR further reports that, even after the great month of April, there’s still 5.7 months of inventory on the market. But this is MUCH better than the 7.6 months of inventory we had at the end of March.

The average sales price in the state of Kansas was just over $155,000 and a several thousand dollar improvement over April 2009’s average sale price. Taking an isolated at Overland Park Kansas, there were 275 home sales in April of this year, a 66% increase over April 2009. The average sale’s price was stagnant however, with a fall of about a half percent this April over last April.

Posted by Jason A. Brown