Lenexa Kansas Real Estate Market Stats – June 2012 Update

Checking The Pulse Of The Kansas City Real Estate Market

Lenexa Kansas Real Estate Update
Recent Real Estate Activity In Lenexa KS

Using the past 15 days of real estate sales activity in Lenexa Kansas to calculate the city’s absorption rate, we find there’s 5.9 months of inventory currently on the market. This amount of inventory is considered a balanced real estate market in the city of Lenexa. The average sales price of the homes sold (closed) the past 15 days in Lenexa was nearly $255,000 and the average new listing came on the market at virtually the same price.

Type # Average $ Avg DOM
Listings Past 15 Days 43 $254,898
Total Active Listings 246
Newest Contracts Written 35 $264,837 74
Sold (closed) Past 15 Days 21 $254,644 134

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The last 21 homes sold in Lenexa were on the market an average of 134 days, while the last 34 homes to go under contract did so in a much quicker average of 74 days. We help Lenexa Kansas home buyers and home sellers and if you’re considering purchasing or selling a home the Lenexa area, my group can provide you expert guidance through the real estate process. Get more details here regarding selling a Lenexa home or buying a Lenexa Kansas home. If you have specific questions, please contact us for assistance.

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Posted by Jason Brown

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Lenexa Kansas Real Estate Market Update – March 2012

Checking The Pulse Of The Kansas City Real Estate Market

Real Estate Statistics On Lenexa Kansas
15 Day Glance At The Lenexa KS Real Estate Market

After calculating the absorption rate over the past 15 days in Lenexa Kansas, we find the city has 5.7 months of inventory currently on the market. This amount of inventory is considered a slight buyer’s market and shows a continued improvement in the months of inventory on the market in Lenexa Kansas. The average sales price the past 15 days was around $245,000, while the average new listing came on the market at nearly $272,000.

Type # Average $ Avg DOM
Listings Past 15 Days 41 $262,972
Total Active Listings 218
Newest Contracts Written 28 $207,241 122
Newest Sold (Closed) 19 $245,303 299

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The last 19 homes sold (closed) in Lenexa took about 10 months to sell and that’s a concern. But the 28 most recent homes to go under contract did so in a much improved 122 days, giving hope for shorter time on the market for Lenexa home sellers. If you are making plans to buy or sell a home in Lenexa Kansas, we look forward to guiding you through the process. Here’s information on how we can assist you with selling your Lenexa KS home and with buying a Lenexa KS home. Please contact us with any questions you may have. My group looks forward to providing you expert representation through the real estate process.

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Posted by Jason Brown

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Lenexa Kansas Real Estate Market Update – January 2012

Checking The Pulse Of The Kansas City Real Estate Market

Real Estate Statistics On Lenexa Kansas
15 Day Glance At The Lenexa KS Real Estate Market

After calculating the absorption rate over the past 15 days in Lenexa Kansas, we find the city has 8.8 months of inventory currently on the market. This amount of inventory is considered a buyer’s real estate market. The average sales price the past 15 days in the city of Lenexa was about $198,000 while the average new listing came on the market around $325,000. The last 12 homes that sold (closed) in Lenexa were on the market an average of 196 days.

Type # Average $ Avg DOM
Listings Past 15 Days 24 $324,523
Total Active Listings 211
Newest Contracts Written 10 $193,585 187
Newest Sold (Closed) 12 $197,542 196

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

If you are making plans to buy or sell a home in Lenexa Kansas, we look forward to guiding you through the process. Here’s information on how we can assist you with selling your Lenexa KS home or with buying a Lenexa KS home. Please contact us with any questions you may have and we look forward to assisting you.

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Posted by Jason Brown

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A Buyer’s Market In Kansas City Makes It Time To Buy, Not Ask Why

Checking The Pulse Of The Kansas City Real Estate Market

It’s amazing that during the seller’s market we experienced for many years, home buyers would rarely complain about the prices they were paying for homes. But now, during a buyer’s market, when Kansas City home buyers can buy a much larger home at a much cheaper price than they could have 5 or 10 years ago, they simply aren’t buying. Though moving cautiously is understandable given the shaky real estate market, there has never been a better time to buy a home.

Home buyers don’t just have to consider foreclosure homes to find a great deal either. There are MANY home sellers out there who have taken great care of their homes but who need to sell their homes immediately. They are willing to lose money to make it happen and I’ve seen many homes in excellent condition be as good a deal as some of the foreclosure listings available in today’s real estate market. The fall in the housing market has brought us back in line with where history says our housing prices should be. So if history is any indication, now could be the best time ever to buy a home.

When you add in that 30 year fixed rate mortgages are at historical lows, home buyers can get both a GREAT deal on a home and a GREAT low mortgage payment. If you’re a first time home buyer who didn’t lose any money in the real estate downturn, you could greatly benefit from today’s market. Even if you currently own a home, by moving up in today’s market the net effect on your real estate investment could be favorable by buying a larger home in today’s down real estate market. In today’s buyer’s market, home buyers in Kansas City, Johnson County Kansas, Overland Park and the surrounding areas have great negotiating power and there are great deals to be found across virtually all price ranges.


Posted by Jason Brown

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Lenexa Kansas Real Estate Update – November 2011

Checking The Pulse Of The Kansas City Real Estate Market

Real Estate Statistics On Lenexa Kansas
15 Day Glance At The Lenexa KS Real Estate Market

After calculating the absorption rate over the past 15 days in Lenexa Kansas, we find the city has 7.7 months of inventory currently on the market. This amount of inventory indicates a continued buyer’s market in the city of Lenexa. The months of inventory however continues to be reduced. When we checked Lenexa’s October real estate stats, there was 11 months of inventory on the market. The improvement we’ve seen is due to fewer homes being on the market today and also on a slightly higher sales rate — both promising signs for Lenexa home sellers.

Type # Average $ Avg DOM
Listings Past 15 Days 16 $228,264
Total Active Listings 246
Newest Contracts Written 18 $231,252 134
Newest Sold (Closed) 16 $219,521 130

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

The homes that sold (closed) the past 15 days did so in an average of 130 days on market. The average list price the past 15 days was close $228,000, while the average new listing during the same period came on the market at nearly $220,000. If you are making plans to buy or sell a home in Lenexa Kansas, we look forward to guiding you through the process. Here’s information on how we can assist you with selling your Lenexa home or with buying a Lenexa home. Please contact my group with any questions you may have and we look forward to assisting you!

Lenexa Kansas Relocation Information

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Posted by Jason Brown

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Owning A Kansas City Home Has A Huge Effect On Our Economy

Checking The Pulse Of The Kansas City Real Estate Market

Wondering if housing really drives the economy? According to a study by NAR, one job is created for every two homes sold and homeownership accounts for more than 15% — over $2 TRILLION — of our U.S. GDP.  With the exception of many homeowners who purchased in 2006 and 2007, the financial reward of owning a home has been the single best investment most people have ever made. For those who haven’t done well or who have treaded water, there are still MANY other benefits to owning a home.

Though complicated to assess, the social benefits of home ownership are certainly huge. The NAR study indicates that homeowners pay 80% to 90% of federal income taxes collected. During our country’s great history, homeowner’s net worth has been about 40 times greater than that of renters. People who own homes also contribute greatly to stabilizing the neighborhoods in which they live, enjoy reduced crime in their areas and generally live more enriched lifestyles than those who rent.


Posted by Jason Brown

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Show Me The Buildfax… Will It Help Kansas City Homebuyers?

Checking The Pulse Of The Kansas City Real Estate Market

You probably know someone who has used the internet to run a background check on someone they’ve just started dating. You’ve heard the commercials imploring consumer to tell car dealers “show me the Carfax”. So you’d think it wouldn’t have taken this long for someone to attempt to give potential home buyers the ability to do a background check on the home they’re buying. That’s what Buildfax Property History attempts to do and they’re offering home buyers the opportunity to get a free Buildfax Property History report through the end of August.


Buildfax touts their reports are beneficial to just about everyone associated with the real estate industry, including home buyers, insurance companies, title companies, home inspectors and appraisers. I presume the reports will come from a database of city permits and Buildfax readily admits it has access to less than 2/3 of such records across the U.S. But the potential exists here to find out a lot of interesting things about a home at a reasonable price.

If it does indeed lead to uncovering issues like major structural issues it could save home buyers thousands of dollars. Even if it just helps a buyer better understand major work done to a roof,  electrical, plumbing or HVAC, it could be well worth the $40 they’re going start charging after the end of this month. If you’re thinking about giving it a trial run, now’s the time while it’s free… so go check it out here.


Posted by Jason Brown

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Lenexa Kansas Real Estate Update – April 2011

Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Lenexa Kansas
Recent
15 Days of Lenexa KS Market Activity

After calculating the absorption rate over the past 15 days in Lenexa Kansas, we find the city has 6.3 months of inventory currently on the market. This is an improvement over the 8.9 months of inventory in our March look at Lenexa’s stats. We were hoping to see the sales rate pick up with the weather but there were almost the same number of homes going under contract during the past 15 days as there were homes that closed. Although home sales in Lenexa haven’t picked up the past 15 days, we’re just now heading into the prime selling season.

Type

#

Average $

Avg DOM

Listings Past 15 Days

66 $295,140

Total Active Listings

327

Newest Contracts Written

25 $276,572 176

Newest Sold (Closed)

26 $246,249 185

* 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 15 days from date of this post. DOM = Days On Market.

The days on market for both the homes that closed and those that recently closed is right around 6 months and higher than most Lenexa area sellers would prefer. The average list price the past 15 days was about $50,000 higher than the average sales price of the homes that closed. If your real estate goals involve buying or selling a home in Lenexa, these types of market stats will give you an advantage over your competition – whether that’s other Lenexa home sellers or home buyers. Please let us know when you’re ready to receive expert real estate guidance. 

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Posted by Jason A. Brown

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Lenexa Kansas Real Estate Update – March 2011

Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Lenexa KS
Recent
15 Days of Lenexa Kansas Market Activity

After calculating the absorption rate the past 15 days in Lenexa Kansas and comparing it to the 259 homes for sale in Shawnee, we find there’s 8.9 months of inventory on the market. This is high but not unusual in our current real estate market. This amount of inventory represents a buyer’s market in Lenexa. The number of homes that went under contract during the same 15-day period was only slightly better and the sales pace will need to pick up as we head into March to eat into the current inventory.

Type

#

Average $

Avg DOM

Listings Past 15 Days

40 $305,695

Total Active Listings

259

Newest Contracts Written

18 $237,861 149

Newest Sold (Closed)

14 $210,654 228

* 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 15 days from date of this post. DOM = Days On Market.

The average list price (around $306,000) compared to the average sales price (around $211,000) is a legitimate concern. Keep in mind that market stats can change quickly and we’re looking at a 15-day market snap shot. We look forward to getting you the information you need to make an informed real estate decision. Please let me know how we can assist you with buying or selling a Lenexa area home.

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Posted by Jason A. Brown

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Home Buyer Survey Reaffirms The Need To List Your Kansas City Home With A Tech Savvy Agent

Checking The Pulse Of The Kansas City Real Estate Market

There’s still Kansas City home sellers out there who will hire an agent just because they used the agent on a prior home sale or purchase.  Some sellers will hire an agent that’s a relative. Other will call a real estate brokerage and let the broker assign an agent. There’s more sellers than I can count that will hire the agent with the most yard signs in the neighborhood. But hiring a Kansas City real estate agent in any of these ways overlooks one of the most important aspects in hiring an agent… the online marketing the agent will do to get the home sold.

There’s a lot of agents still selling homes that aren’t current on the most effective marketing means.  The MLS is one of the major ways that homes sell but relying mostly on that tool to sell a home puts a seller at a disadvantage. In today’s real estate market, it’s vital that sellers hire an agent who understands exactly where buyers are searching for homes. This means knowing where and how to market a home online. Along with networking with other agents, the marketing an agent does online can give a Kansas City home seller a CLEAR advantage over the competition. I’ve sold homes as soon as they’ve gone online because of where we put them and how well they show once buyers see the home online.

Some things never change and one of those is that there’s no marketing I know of to overcome a grossly over-priced home. But for sellers who are priced appropriately, the online marketing that’s done is vital since the 2010 NAR buyer survey found that 89% of home buyers found the home they purchased online. Think about that for a moment and you’ll realize the first and last question you should ask your listing agent is how they will market your home online.

In addition to finding that 89% of buyers search the internet to find their homes, the buyer survey also found that 88% of home buyers use a buyer’s agent. This is much higher than the 80% figure in a previous survey. So it’s more important than ever to hire a listing agent who will properly market your home online AND network with the buyer’s agents in the community to get the word out about your home.

Posted by Jason A. Brown

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