Checking The Pulse Of The Kansas City Real Estate Market
Many major real estate markets that I keep tabs on are in a buyer’s market. But a few market’s are still in what the “experts” consider a stable market. Most experts generally agree that a buyer’s market is when there’s between 5 to 7 months of inventory on the market. Less than 5 months of inventory is a Seller’s market and more than 7 months of inventory is a buyer’s market.
I usually take a snap shot look at one city or one subdivision at a time, so today I thought it would be interesting to take a look at several of our major metro cities for comparison purposes. The following chart uses the absorption rate over the past 6 months in each city to calculate the months of inventory. As expected, Overland Park is seeing a “stable” real estate market and is followed closely by Prairie Village Kansas and Olathe Kansas…
|
City |
Active Listings |
Months of Inventory |
|---|---|---|
| Overland Park KS | 1,081 | 5.7 |
| Prairie Village KS | 183 | 6.2 |
| Olathe KS | 933 | 6.5 |
| Shawnee KS | 390 | 7.1 |
| Leawood KS | 321 | 7.2 |
| Lenexa KS | 297 | 7.6 |
| Lee’s Summit MO | 832 | 8.3 |
| Kansas City MO | 5,176 | 9.0 |
Posted by Jason A. Brown
