Lenexa Kansas Real Estate Market Stats – May 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 sales activity in Lenexa Kansas to calculate the city’s absorption rate, we find there’s 4.1 months of inventory currently on the market. This amount of inventory is considered a balanced real estate market in the city of Lenexa. There was a big gap between average new list price and average sales price the past 15 days. The average new listing in Lenexa came on the market around $285,000, while the average sales price was right at $216,000.

Type # Average $ Avg DOM
Listings Past 15 Days 41 $285,498
Total Active Listings 259
Newest Contracts Written 37 $229,632 129
Sold (closed) Past 15 Days 32 $216,004 127

* 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 home sold (closed) the past 15 days was on the market 127 days. We help Lenexa Kansas home buyers and home sellers and if you’re considering purchasing or selling a home the Lenexa area, my real estate group looks forward to assisting you. Get more details here regarding selling a Lenexa Kansas 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 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!

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Posted by Jason 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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Lenexa Kansas Real Estate Update – January 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 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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Organization Is Key To Completing A Lenexa Kansas Home Purchase

Checking The Pulse Of The Kansas City Real Estate Market

Buying a home can be made easy in most cases by simply working with a great agent. By great agent I mean a real estate agent who knows what they’re doing and cares enough to make your transaction as important as if it were his or her own personal transaction. Everything I do in business is based on organization. One step into my office and you’ll understand just how important it is to me. When I walk out of my office each day, I feel great that the critical items have been handled and the rest is in order to start the next day. It takes just one lost piece of paperwork or dropping the ball on one item during the home buying process and the wheels can fall off the bus.

Let’s say your buying a home in Lenexa Kansas. After you’ve chosen the Lenexa Realtor that will represent you, the next step is choosing a great lender who works the Lenexa KS area. Once you have your loan Pre-Approval Letter in hand, it’s off to view homes. But wait… there more to an organized home search than just heading out to view any homes in the price range. Buyers should first scout the neighborhoods within their price range and desired area. At a minimum, checking out the main streets of the surrounding area will help you understand important factors around the neighborhood. Look for traffic flow, excessive noise, parks, shopping, dining amenities, etc. Always look closely at whether the neighborhood commons areas are well taken care of – it’s a tell-tale sign if they’re not.

When choosing homes to view, the process can vary greatly from one buyer to the next. Many  buyers prefer to receive  all the listings via email and then tell me which ones they want to see. A few want to give me their basic parameters and have me choose all the homes we see. In most cases, the best solution is a combination of the two. I set my clients up to receive email updates of listings that fit their parameters. I ask enough questions up front that only relevent listings are sent to buyers. Taking the time to check a few additional MLS boxes can go a long way towards making it easier for buyers to cull through the available MLS listings. Once the right home is found,  you’ll be counting on your agent for expert representation through the remainder of the real estate process and organization is just as critical during the rest of the real estate process.


Posted by Jason A. Brown

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Tax Credit Party Continues With News That May Homes Sales In Kansas Were Up More Than 20%

Checking The Pulse Of The Kansas City Real Estate Market

When it was reported about a month ago that April home sales in Kansas had risen more than 40% from the previous April, I was very impressed. Although the news had to be taken with a grain of salt – because it was tax credit fueled – I was still looking forward to seeing some more tax credit fueled sale’s figures for May. Well the figures are out and the party continues with news that Kansas home sales were up more than 20% in May 2010 over May 2009.

This is good news no doubt, but not as impressive as April’s report was compared to the nationally sales figures. In April, the increase in the sales rate from the previous year in Kansas was almost double that of the comparable national sales rate. But in May the increase in the Kansas sales rate was much more in line with what’s going on nationally — a 22.6% increase locally in Kansas compared to 19.2% nationally. The raw numbers, as reported by my Kansas Association of Realtors (KAR), shows there were 3,355 homes sold this May, compared to 2,737 in May 2009.

KAR reports there’s 5.6 months of inventory on the market, which is a slight improvement over April’s report of 5.7 months of inventory. Before there was an extension to the deadline for tax credit closings to occur, many close dates were set for mid to late June. So I expect that when June’s figures are release those will be better than last year as well. The extension provided for closings may also lead to higher sales rates when the July and August stats are reported down the road. In other news from the May report, the average sales price in Kansas was $157,822. This is a decrease from the $161,928 average sale’s price in May 2009.  Taking an isolated look at the Johnson County Kansas real estate market, there were 935 home sales in May of this year, which was a 22% increase over May 2009.


Posted by Jason A. Brown

Lenexa KS Real Estate Update * 15-days Of Lenexa Kansas Market Stats

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

City of Lenexa Kansas Real Estate Update <> 15-day Glance:

Lenexa KS Real Estate Market Stats

Type

#

Average $

D.O.M.

Newest Listings

15

$302,746

View These Listings

Total Active Listings

333

Newest Pending

6

$229,442*

108

View These Pendings

Recently Sold (Closed)

4

$301,125

83

View These Solds

* Average Newest Pending 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 a particular category. DOM is Days On Market. Note the date of this post as market stats become outdated. Stats may not be an exact 15 days. Stats were pulled at 9 AM on 1/27/09. 

In the city of Lenexa KS there continues to be more homes coming on the market than homes going under contract (pending) or than homes being sold (closed). This creates a further surplus of supply in Lenexa Kansas. Using the past 15 days as a basis for figuring the absorption rate in Lenexa, there is just shy of 4 years of inventory on the market. There simply needs to be more than four sales in a 15-day period to get the months of inventory down. Of course a 15-day period is a small sampling of market activity designed to look at the what’s going on now in the current real estate market. 

While a 15-day period could indicate a trend it does not necessarily show a real estate markets long-term trend. For instance, if we use the sales over the past 60 days (rather than the past 15 days), It calculates to about 16 months of inventory on the market in Lenexa. Much better numbers, yet still too high, and hopefully the spring market will work off a bunch of the listing inventory.

Posted by Jason A. Brown

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