Checking The Pulse Of The Kansas City Real Estate Market

The most recently released Kansas Association of Realtors stats (for the month of April) indicates further strengthening of the state-wide real estate market. Home sales volume continue to rise, as does resulting home sale prices. During the month of April in Kansas, homes sales increased 7.8% compared to April of last year. This follows up the previous months 4.1 increase.

At last months check, the state was also in a balanced real estate market but nearing a seller’s market (with 5.3 months of inventory). This month there is 5.2 months of inventory on the market and thus another small step towards a seller’s market. The rise in home sale prices was more impressive than the increase in volume of home sales, with average sales price rising an incredible 13.7% compared to April of last year. This follows up last months 9.0% increase in sale prices in Kansas. 

Locally in the Johnson County Kansas area, the real estate market continues to heavily favor home sellers. Over the past month there were 1,132 homes sold (closed) and comparing this sales rate against the current volume of homes for sale, it calculates to just 2.1 months of inventory on the market. This is an improvement over last month’s already seller dominant 2.9 months of inventory. Johnson County Kansas clearly remains in a strong seller’s real estate market.

Posted by Jason Brown