Checking The Pulse Of The Kansas City Real Estate Market

The February housing market stats for Kansas have been posted by the state association of Realtors and they show a continuation of the improvement we saw when the January stats were released last month. State-wide, home sales rose an astounding 18.6% compared with January of 2011. Nationally, home sales increased an average of a 8.8% increase and this shows just how solid the Kansas real estate market is proving to be as our local markets stabilize. 

Average sales prices were mostly flat with the average sales price this February falling 0.2% compared to last February. While the higher sales pace and stabilizing of home sales prices is impressive, a high sales rate will need to continue because there has been a large an influx of new listings hitting the market the past couple of months. Using February’s sales rate compared to the volume of homes on the market, there was 8.9 months of real estate inventory at the end February. This amount of inventory represents a clear buyer’s market. 

Locally in Johnson County Kansas, the February stats were solid. There were 463 homes sold during the month and comparing that to the 3,095 homes for sale in Johnson County Kansas, that calculates to about 6.7 months of inventory on the market. This indicates a slight buyer’s market in Johnson County Kansas. My real estate group has seen home buyer inquiries really pick up since early February and we’re expecting a solid spring real estate market in Johnson County Kansas, Overland Park and many of the surrounding Kansas City metro ares that we serve.

Posted by Jason Brown