Tag Archives: Lenexa KS Real Estate Agents

Lenexa Kansas Real Estate Market Update – January 2013 Update

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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 6.2 months of inventory currently on the market. This amount of inventory is considered a balanced real estate market in the city of Lenexa. The last 14 homes homes sold (closed) in Lenexa Kansas were on the market an average of 73 days and had an average sales price of more than $382,000.

Type # Average $ Avg DOM
Listings Past 15 Days 23 $295,453 —
Total Active Listings 174 — —
Newest Contracts Written 19 $214,847 118
Sold (closed) Past 15 Days 14 $382,449 73

* 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 average new listing the past 15 days in Lenexa came on the market at more than $382,000. My group can help you through the process of buying or selling a home in Lenexa Kansas, so let us know more about your real estate situation. You can find more details here regarding Lenexa Kansas listing agent services and Lenexa Kansas buyer’s agent services. Contact us with questions.

Lenexa Kansas Real Estate Info

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Posted by Jason Brown

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Lenexa Kansas Real Estate Market Stats – October 2012 Update

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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 6.1 months of inventory currently on the market. This amount of inventory is considered a balanced real estate market in the city of Lenexa. The homes sold (closed) in Lenexa the past 15 days had an average sales price of more than $254,000, while the average new listing came on the market at more than $279,000.

Type # Average $ Avg DOM
Listings Past 15 Days 33 $279,311 —
Total Active Listings 207 — —
Newest Contracts Written 24 $249,035 134
Sold (closed) Past 15 Days 17 $254,225 68

* 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 17 homes sold in Lenexa Kansas were on the market an average of 68 days. If you’re in the market to buy or sell a home in Lenexa Kansas, my real estate group can help you through the process. Get  details here regarding selling a Lenexa Kansas home and with 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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Are You Underestimating Today’s Low Interest Rates When Deciding If The Time Is Right To Buy A Kansas City Home?

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Checking The Pulse Of The Kansas City Real Estate Market

Mortgage interest rates have risen about a half percent recently but they’re still at unbelievable lows. Buyers who continue to sit the fence are likely costing themselves a higher mortgage payment down the road. Of course, the price of a home also needs factored into the equation, but interest rates have a more dramatic effect than many Kansas City home buyers realize.

If you’re thinking of waiting for lower home prices before you buy a home, consider the following scenarios…

Scenario 1 (Today’s market):
 123 Oak can be purchased today for $200,000.
Interest rates are 5%.
Buyer’s monthly principal & interest payment would be $1,074.

Scenario 2 (Down the road):
 Home prices fall 5 percent and now 123 Oak can be purchased for $190,000.
But interest rates rise 1/2 percent and are now at 5.5%.
Buyer’s monthly principal & interest payment would be $1,079.

Scenario 3 (Down the road):
 Home prices fall 10 percent and now 123 Oak can be purchased for $180,000.
But interest rates rise 1 percent and are now at 6%.
Buyer’s monthly principal and interest payment would be $1,079.

So if interest rates rise ONE percent (which is eventually going to happen), then a buyer will be able to afford $20,000 less home ($180,000 versus $200,000) using the price range in the sample above! A general rule of thumb to use when considering whether to buy today or wait until tomorrow is this… For every half percent interest rates rise, you’ll be able to purchase 5% less home in the future.


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.

View Past Lenexa KS Real Estate Stats

Lenexa KS Buyer’s Agents

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View All Lenexa Homes On Kansas City MLS

Posted by Jason A. Brown

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