Tag Archives: Lenexa Kansas Real Estate

Lenexa Kansas Real Estate Update – January 2011

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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 can determine there’s currently 14.0 months of inventory on the market. This is very high and a clear indication of the buyer’s market present in Lenexa. A sales pace of less than 20 home sale per month is not going to eat quickly enough into more than 250 homes on the market within the city. There was good news found in the average sales price of around $290,000, which is higher than it has been in a while and even higher than the average listing price over the 15-day period.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 30 $269,658

–

Total Active Listings

 252

–

–

Newest Contracts Written

 18 $251,572 180

Newest Sold (Closed)

 9 $290,222 231

* 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 is creeping higher and the homes that sold (closed) the past 15 days took 231 days on average to do so. If your real estate goals involve buying or selling a home in Lenexa Kansas, please contact me for assistance. I look forward to guiding you through the process of buying or selling a Lenexa home.

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Posted by Jason A. Brown

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Lenexa Kansas Real Estate Update – December 2010

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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 over the past 15 days in Lenexa, we find there’s 9.6 months of inventory on the market. This is high but when you consider the sales rate the past 15 days include the Thanksgiving holiday, the amount of inventory isn’t alarming. The sale’s prices compared to list prices over the 15-day period are however a concern. The average sales price was $236,000, however the average price of the new listings over the same period was close to $300,000.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 11 $302,618

–

Total Active Listings

 269

–

–

Newest Contracts Written

 16 $277,281 146

Newest Sold (Closed)

 14 $235,874 372

* 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 of the homes that closed was high but the homes that went under contract over the same period did so in less than 5 months. Once we get past the holidays, we’ll watch closely to see if sales start to pick up. If your real estate goals involve buying or selling a home in Lenexa, please let me know how I can assist you.

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Posted by Jason A. Brown

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Lenexa Kansas Real Estate Update – October 2010

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

After calculating the absorption rate over the past 15 days in Lenexa Kansas, we can determine there’s currently 20.1 months of inventory on the market. This isn’t a misprint and seeing just 8 homes Sold (closed) throughout the city of Lenexa over the past 15 days is concerning. That’s less than one home closing every two days. At that pace, it’s going to take some time to eat up a current inventory of 335 homes for sale in Lenexa.

Type

#

Average $

Avg DOM

Listings Past 15 Days

 34 $245,600

–

Total Active Listings

 335

–

–

Newest Contracts Written

 17 $263,729 130

Newest Sold (Closed)

 8 $284,806 261

* 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.

Of course the market can change quickly and we’re only looking at the past 15 days of market stats.  Also consider that 17 homes went under contract over the same period. If those had all been closings rather than just contracts written, the months of inventory would be closer to 10 months. So let’s hope all those do end up making it to the closing table. Irregardless, it’s clearly a buyer’s market in the city of Lenexa. Whether buying or selling, you’ll want a local expert who understands our current market conditions so they can proper guide you through the process. Please let me know more about your real estate goals and we look forward to helping you achieve them.

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Posted by Jason A. Brown

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Lenexa Kansas Real Estate Update – September 2009

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Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market


City of Lenexa KS Real Estate Update
Past 15 Days of Lenexa Kansas Real Estate Stats
Type
#
Average $
Avg DOM
Listings Past 15 Days
 34 $271,246
–
Total Active Listings
 321
–
–
Newest Contracts Written
 29 $170,710 85
Newest Sold (Closed)
 23 $221,218 133

* 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.

Lenexa KS Real Estate

Lenexa KS Real Estate

Using these past 15 days of market stats to figure the absorption rate in Lenexa Kansas, there’s currently 6.9 months of inventory on the market. The most glaring fact I see here is that the average list price over the past 15 days was $271,246, while the average sales price over the same period was much lower — $221,218. Additionally, the average current list price of the homes that went under contract was an even lower $170,710.

Without a doubt, the average Lenexa home value is higher than the average list price seen over these 15 days ($170,710) and this is a good example of how a 15 day sampling of market activity does not tell the whole story about a real estate community. So take this snap shot with a grain of salt. It may show a pattern forming but you also need to look at month over month and year over year to determine an areas long-term trends. Market conditions in the City of Lenexa will also vary greatly from one area of the city to another, so be sure you take a look at a specific community’s stats – in addition to the general city stats – when making a decision to purchase or sell Lenexa Kansas real estate.  If you want to discuss these stats or obtain specific subdivision stats you may post a reply below or email me directly.

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Posted by Jason A. Brown

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