Tag Archives: Overland Park Kansas Homes For Sale

Challenging Real Estate Market Continues Into The Fall For Kansas City Home Sellers

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Checking The Pulse Of The Kansas City Real Estate Market

The most recent stats reported by the Kansas Association of Realtors (KAR) were September’s market stats. The results were not favorable for home sellers across the state of Kansas. KAR reports that home sales fell more than 22% in September when compared to September 2009. This was a huge drop from around 2,765 reported sales last year to 2,100 this year. The Kansas real estate market was slightly worse than the national average, which saw about a 19% drop in sales compared to last September.

The months of inventory on the market has crept up to 9.9 months of inventory. Months of inventory in this case is calculated using the number of September home sales and dividing that into the 21,148 homes that were on the market at the time this report was produced. Average sales prices held pretty steady with a 0.4% decline from $151,383 in September (compared to August 2010).  Nationally, home prices decreased by 2.4% overall between September 2009 and September 2010.

Looking at our local Johnson County Kansas real estate market, we had 503 homes sold in September. This was down about 1/3 from the 750 homes sold in September 2009. Using this September’s sold stats and comparing it to the 4,130 homes for sale in Johnson County, there’s currently 8.2 months of inventory on the market. It’s clearly a buyer’s market in Johnson County Kansas and I continue to see amazing deals all over the Johnson County Kansas area.


Posted by Jason A. Brown

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Overland Park KS Real Estate Statistics * 15-Day Update For Overland Park Kansas

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

City of Overland Park KS Real Estate Update

Overland Park Kansas Real Estate Market Stats <> 15-day Review

Type

#

Average $

Avg DOM

–

Newest Listings

192

$278,851

–

View Newest Listings

Total Active Listings

1,085

–

–

–

Newest Under Contract

87

$231,349*

77

View Newest Under Contract

Newest Solds (Closed)

64

$265,049

39

View Newest Solds

* Average Newest Under Contract 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 and stats were pulled in the PM on 3/10/09.

Overland Park Kansas

Overland Park Kansas

In the city of Overland Park Kansas 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 Overland Park KS. Using the past 15 days of homes closed (64) as a basis for figuring the absorption rate in Overland Park, there’s about 8.5 months of inventory on the market.

There were more pending sales than homes that actually closed and that looks promising. If we use the 87 Pending sales over the past 15 days as the basis for figuring the absorption rate in Overland Park, there’s a little over 6 months of inventory on the market in Overland Park. Do keep in mind that a 15-day period is a small sampling of market activity and 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.

Posted by Jason A. Brown

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