Overland Park KS real estate update for May 2016… Get details on the strong Seller’s market & search Overland Park homes for sale

The Jason Brown Group

Overland Park KS Real Estate Update

There were 141 homes sold (closed) in Overland Park Kansas the past 15 days. Comparing this sales rate to the current 478 homes for sale in Overland Park, the city has 1.7 months of inventory on the market. This volume of real estate inventory indicates a strong seller’s real estate market in Overland Park. The average new listing the past 15 days in Overland Park Kansas came on the market around a $376,000 list price, while the average sales price during the same time frame was around $293,000.

Type # Average $ Avg DOM
Listings Past 15 Days 215 $376,061
Total Active Listings 478
Newest Contracts Written 196 $356,994 60
Sold (closed) Past 15 Days 141 $293,255 58

* 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 141 homes sold in Overland Park Kansas were on the market an average of 58 days, while the last 196 homes to go under contract did so in 60 days on average. We look forward to helping you assess the effect these market stats have on your your real estate investment and the decisions you make when buying or selling an Overland Park Kansas home.

The Jason Brown Group gives Overland Park home sellers powerful representation and we get our average listing sold within 60 days and for more than 98% of list price. We represent Overland Park home buyer’s best interests throughout the home buying process and help with locating all area homes for sale that fit our buyer’s needs. Get an overview of how we will assist you in selling an Overland Park Kansas home or buying an Overland Park Kansas home and contact us for personal real estate assistance.

Overland Park Real Estate Information

View All Overland Park Homes For Sale

Additional Real Estate Market Stats

Overland Park Listing Agents

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Posted by Jason Brown

 

Overland Park Kansas real estate update for February 2016… View details on the Seller’s market & Overland Park homes for sale

The Jason Brown Group

Overland Park KS Real Estate Update

There were 55 homes sold (closed) in Overland Park Kansas the past 15 days. Comparing this sales rate to the current 462 homes for sale in Overland Park, the city has 4.2 months of inventory on the market. This volume of real estate inventory indicates a seller’s real estate market in Overland Park KS. The average new listing the past 15 days in Overland Park came on the market around a $343,000 list price, while the average sales price during the same time frame was around $251,000.

Type # Average $ Avg DOM
Listings Past 15 Days 109 $343,429
Total Active Listings 462
Newest Contracts Written 118 $291,629 86
Sold (closed) Past 15 Days 55 $251,146 54

* 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 55 homes sold in Overland Park Kansas were on the market an average of 54 days, while the last 118 homes to go under contract did so in 86 days on average. We can help you further assess these Overland Park real estate market stats and we look forward to assisting you with buying or selling an Overland Park home.

We give Overland Park home sellers powerful representation and we get our average listing sold within 60 days and for more than 98% of list price. We represent Overland Park home buyer’s best interests throughout the home buying process and help with locating all the possible area homes that fit our buyer’s needs. Get general information on our site regarding selling an Overland Park Kansas home or buying an Overland Park Kansas home and then contact us for personal real estate assistance. 

Overland Park Real Estate Information

View All Overland Park Homes For Sale

Additional Real Estate Market Stats

Overland Park Listing Agents

Overland Park Buyer’s Agents

Posted by Jason Brown

 

Overland Park Kansas real estate update for December 2015… View the Seller’s market breakdown & Overland Park homes for sale

The Jason Brown Group

Overland Park KS Real Estate Update

There were 81 homes sold (closed) in Overland Park Kansas the past 15 days. Comparing this sales rate to the current 520 homes for sale in Overland Park, the city has 3.2 months of inventory on the market. This volume of real estate inventory indicates a seller’s real estate market in Overland Park. The average new listing the past 15 days in Overland Park Kansas came on the market at a list price around $288,000, while the average sales price during the same time frame was nearly $324,000.

Type # Average $ Avg DOM
Listings Past 15 Days 102 $287,608
Total Active Listings 520
Newest Contracts Written 96 $300,574 68
Sold (closed) Past 15 Days 81 $323,684 59

* 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 81 homes sold in Overland Park Kansas were on the market an average of 59 days, while the the last 96 homes to go under contract did so in 68 days on average. We can help you further assess these market stats and we looking forward to assisting you with buying or selling an Overland Park home.

We give home sellers powerful representation by getting our average listing sold within 60 days and for more than 98% of list price. We represent Overland Park home buyer’s best interests throughout the home buying process and help with locating all the possible area homes that fit our buyer’s needs. Get detailed information on our site regarding selling an Overland Park Kansas home or buying an Overland Park Kansas home and contact us when it’s time to start the real estate process.

Overland Park Real Estate Information

View All Overland Park Homes For Sale

Additional Real Estate Market Stats

Overland Park Listing Agents

Overland Park Buyer’s Agents

Posted by Jason Brown

 

Kansas Home Sales Prices Continue To Rise Despite Dip In Home Sales Volume

Checking The Pulse Of The Kansas City Real Estate Market


The most recently released Kansas Association of Realtor market stats, covering home sale activity for Kansas during November, indicate home sales volume fell 7.1%. This slow down comes after a 3.5% increase in homes sales at last month’s check. The fall in home sales should not come as too big of a surprise however given how hot the market at this time last winter, which is what our current market is being compared against.

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Overall in the state of Kansas, we remain in a balanced real estate market with 5.8 months of inventory on the market. This is up slightly from last months 5.5 months of inventory. While home sales volume fell this month, average home sale prices continue to rise. Compared to last November, home sales prices increased 11.3%, which follows up last month’s 8.4% increase.  

Locally in the Johnson County Kansas, a seller’s real estate market continues with 578 homes sold (closed) during the past month. Compared to the current volume of homes for sale in Johnson County Kansas, we have 3.2 months of inventory currently for sale.

CONTACT THE JASON BROWN GROUP ABOUT BUYING OR SELLING A HOME IN KANSAS CITY, JOHNSON COUNTY KS, OVERLAND PARK OR THE SURROUNDING AREA


Posted by Jason Brown

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Overland Park Kansas Real Estate Market Stats – October 2012 Update

Checking The Pulse Of The Kansas City Real Estate Market

Overland Park Kansas Real Estate Update
Recent Real Estate Activity In Overland Park KS

Using the past 15 days of real estate sales activity in Overland Park 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 seller’s real estate market in the city of Overland Park. The homes sold (closed) the past 15 days in Overland Park had an average sales price around $284,000, while the average new listing came on the market at nearly $318,000.

Type # Average $ Avg DOM
Listings Past 15 Days 132 $317,924
Total Active Listings 705
Newest Contracts Written 129 $263,587 78
Sold (closed) Past 15 Days 87 $283,505 104

* 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 sold the past 15 days in Overland Park averaged 104 days on market. If you’re considering buying or selling a home in Overland Park we can provide you market stats on any specific subdivision. You can also find more details here regarding selling an Overland Park Kansas home and with buying an Overland Park Kansas home. Please contact us with any questions.

Overland Park Kansas Relocation Guide

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View More Overland Park KS Real Estate Stats

Buyer’s Agents In Overland Park KS

Listing Agents In Overland Park KS


Posted by Jason Brown

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Lowering Of Conventional Loan Limits Should Have Minimal Effect On Kansas City Real Estate Market

Checking The Pulse Of The Kansas City Real Estate Market

Fannie Mae is planning to be less involved in future upper bracket home purchases. Currently, most counties across the U.S., including all of our Kansas City metro counties, have a $417,000 maximum loan amount that Fannie Mae will back. This means if you need a $450,000 loan, you don’t qualify for a conventional loan backed by Fannie Mae and will need to search for a lender willing to deal with this price range loan. That would likely mean higher loan costs, a higher interest rate, etc. Since it doesn’t appear there will be any change to the $417,000 level, it appears our Kansas City real estate market is mostly insulated from the coming changes.

More expensive real estate markets across the country are sure to be effected however. During the mortgage lending crises of the past several years, Fannie Mae stepped in raising the maximum price on loans it would back. This was designed to help stabilize counties with the most fragile and expensive real estate markets (i.e. few lenders around who were willing to make loans on the homes). But now Fannie Mae is reeling things back in by lowering limits back closer to the lowest $417,000 figure. 

While Kansas City appears mostly insulated from these changes, any adverse affect on our delicate national real estate market threatens to have a trickle down effect.  With some reports indicating that national home prices have fallen back to 2002 levels, let’s hope the effects of these changes are minimal here in Kansas City, Johnson County Kansas, Overland Park and the surrounding areas.


Posted by Jason Brown

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Johnson County Kansas Real Estate Market Outpacing State Of Kansas Overall Stats

Checking The Pulse Of The Kansas City Real Estate Market

My National Association of Realtors (NAR) report on May’s real estate market stats indicates that home sale fell more than 20% compared to last May. That may seem startling but we were still in the home tax credit era at that time last year, so you’d expect stats from a year ago to be better. NAR points out that May 2011 home stats compare favorably to May 2009 home stats (when there was no tax credit in effect skewing the numbers). The actual sales figures for 2011 compared to 2010 were 2,760 to  3,484 homes sold, respectfully. Nationally home sales fell 15%, May 2011 compared to May 2010.


When we compare the 20,261 homes for sale in Kansas (at the end of May) to the 2,760 homes sold during the month of May, we find there was 7.3 months of inventory on the market in the state of Kansas at the end of May. The average sales price in May of this year was $156,432, which is virtually identical to the $156,521 in May 2010. It’s apparent that Kansas home sellers continue to face a buyer’s market this summer.

Locally in Johnson County Kansas, the market continues to stabilize. 704 homes were sold in Johnson County Kansas this May. Compare that monthly sales rate to the 4,148 homes currently for sale in Johnson County Kansas and we find there’s 5.9 months of inventory in Johnson County. That amount of inventory is considered a stable real estate and could be a very good sign for Johnson County home sellers.


Posted by Jason Brown

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Home Prices Show Signs Of Stabilizing In Kansas Despite Significant Drop In Volume Of Sales

Checking The Pulse Of The Kansas City Real Estate Market

The recent Kansas Association of Realtors (KAR) report on February’s real estate market indicates both the volume of home sales and average sales prices are trending down in the state. Overall in the state of Kansas, home sales (closings) fell 7.7% in February 2011 compared with February of 2010. This is vastly different from the 5% rise in average sales price we saw in last months’ report. Home prices did stabilize though and the 1.8% drop in sales prices was much improved after last month’s report which showed an 8% fall in home prices. Compared to the 5.2% national drop in home prices, Kansas appears much more stable than other U.S. markets.

There’s currently 11.7 months of inventory on the market in the state of Kansas, which is almost 1.5 months less than in last month’s report. Looking closely at our local market in Johnson County Kansas, 351 homes were sold (closed) in February. This was just slightly less than the 369 home sales in Johnson County in February 2010. Comparing this February’s sales rate  (adjusting for the short month) to the 3,786 Johnson County Kansas homes for sale, there’s 9.2 months of inventory available. This indicates a buyer’s real estate market in Johnson County Kansas and presents first time home buyers, move-up buyers and buyers considering a lateral move with an excellent opportunity to explore their options.

Posted by Jason A. Brown

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Do Realtor Designations Really Mean All That Much?

Checking The Pulse Of The Kansas City Real Estate Market

I’ve never found Realtor designations to be of much importance.  When I first got into the business back in the early 1990’s, I “earned” a couple of designations. It wasn’t a memorable experience however. One thing I do remember about getting those designations was how they didn’t really make me feel I was all the sudden a much better Kansas City real estate agent. From that point forward I swore off Realtor designations.

Well, I did earn one more designation that year. It was the School of Hard Knocks designation and that one was well-earned. But even that designation isn’t being flaunted on my business card or web site. I’ve never considered going and getting a bunch of designations so I could bring them up during a listing presentation or at an initial buyer consultation.  Clients never asked me about them and I concluded they had little redeeming value.

Yet to this day many agents swear by them. I’ve heard enough good things to make me think the E-Pro designation could provide a good value proposition to many agents. But since I’m already a leading online Realtor and teach classes on having an online presence, I’m sure it would prove remedial to me. This is reinforced by many agents I know who have the E-Pro designation not having a great grasp on how to implement the tools that will put their buyers and sellers at an advantage in their real estate transactions. So please pardon me if I’m skeptical.

I don’t want to completely discount designations though. Any education that an agent receives in getting a designation is beneficial. I’ve also heard that the GRI is a long process and that must mean there’s some real learning going on there. Some agents won’t send a referral to an agent without the CRS designation. If that’s true I’ve no doubt lost some referral opportunities. But the majority of the others aren’t much more than a several hundred-dollar check and a pre-printed designation handed at the conclusion of the class.

The SHK designation I previously mentioned is what I’d be looking for if I need an agent in another state to help me purchase a vacation home.  That means experience folks. Let me ask you this… Would you prefer your pilot to have graduated middle of the class but have years of experience or would you prefer a pilot who graduated at the top of their class but is making their maiden flight?

Experience is the key to helping clients buy and sell real estate. If you’re new to the business and lack experience, you have to try to make up for it with effort and persistence, until you have the experience. When a new potential client wants to find out whether I know what I’m doing, they ask about my experience – not about what designations I have. They also want to know I care about their success and that I’m creative and cutting edge in helping them accomplish their goals. They don’t want to know how much I’ve spent on trendy designations.


Posted by Jason A. Brown

Don’t Ask Your Kansas City Realtor If It’s A Safe Neighborhood

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

Fair Housing laws can put us Kansas City real estate agents in a difficult position. I’ve had the occasional home buyer get upset when I try and explain that I can’t tell them whether they should choose a particular school district. Some say that help with Johnson County Kansas schools is why they hired me. Other’s – often parents of young homebuyers – will ask if the home is in a safe area. I nearly got fired when I tried to explain to a client’s father that I couldn’t answer that question. We became buddies before the home search was over but we were on shaky ground for a good hour or so.

Buyer’s don’t need to panic because real estate agents are able to point home buyers to information on area school districts as well as where to find info to determine whether the buyer believes it’s safe place to live. I just can’t make a blanket statement on either issue. Fair Housing laws are important because they protect the public from being discriminated based on race, creed, color nationality, marital status, familial status, etc. With that in mind, Kansas City real estate agents can’t take part in steering clients to any particular area, city, school district, lake, street… you get the idea. 

So when I’m representing you in your home purchase, don’t ask me “is this a safe area”. Instead, ask me where you can get your hands on the area’s crime reports/statistics.  Don’t ask me “is this the right school district for your children”. Instead, ask me if I’d feel comfortable putting my kids in the schools. See the difference? I can’t steer you to any particular area. But I can steer myself. An even better question is where you can get your hands on the facts, stats and reports that will help you make an informed decision. For this reason, I have links to area schools and crime statistics all around my web site, www.JBPRealtyGroup.com.  

Posted by Jason A. Brown

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