Tag Archives: Realtors In Kansas City

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The Jason Brown Group
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Jason Brown
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6850 College Blvd, Overland Park KS 66211
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Kansas City real estate update ~ June 2019: Kansas City MO market stats and home trends

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The Jason Brown Group

Kansas City Real Estate Update

There were 196 homes sold (closed) in Kansas City the past 15 days. Comparing that sales volume to the 771 homes currently for sale in Kansas City, the city has 2.0 months of inventory on the market. This volume of real estate inventory indicates a seller’s market in Kansas City and a shortage of available housing inventory in the city. The average new listing the past 15 days in Kansas City came on the market around a $210,000 list price and the average sales price of homes closed during the same time period was nearly $192,000.

Type # Average $ Avg DOM
Listings Past 15 Days 276 $209,680 —
Total Active Listings 771 — —
Newest Contracts Written 251 $201,034 48
Sold (closed) Past 15 Days 196 $192,430 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 196 homes sold in Kansas City were on the market an average of 58 days, while the most recent 251 homes to go under contract did so in 48 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 a Kansas City home.

The Jason Brown Group provides expert home seller representation, helping home sellers maximize their real estate investments by selling quickly and for top dollar. We provide expert home buyer representation, helping home buyers locate the best available homes on the market, while providing guidance all the way through the real estate process. Learn more about how we can help you with selling a Kansas City home or buying a Kansas City home.

We look forward to helping you achieve your real estate goals… Contact Jason Brown today!

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Real Estate Market In Kansas Continue Trends That Favor Home Sellers

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Checking The Pulse Of The Kansas City Real Estate Market


The latest Kansas Association of Realtors state-wide real estate stats (covering the month of February) indicate further improvement in both average sales prices and in the volume of homes sold (closed). Home sales increased another 3.4% in February compared to February 2011 market stats, following up last months big 11.6% jump.

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Although the state is still in a buyer’s market overall with 7.4 months of inventory on the market, the months of inventory continues to push towards a balanced real estate market – there was 7.7 months in inventory at last months check. 5 to 7 months of inventory is generally considered a balanced real estate market. The rise in home sale prices was even more impressive, with the average sales price rising an incredible 9.7% compared to February of last year. This follows up last month’s identical 9.7% increase.

Locally here in Johnson County Kansas, the real estate market remains solid for home sellers. Over the past month we saw 695 homes sold and comparing this sales rate against the current volume of homes for sale, it calculates to 3.1 months of inventory on the market. This is an improvement over last month’s  3.8 months of inventory. All of this represents a strengthening of the seller’s real estate market that has been present in Johnson County Kansas the past year. 


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Volume Of Home Sales Up 11% In Kansas, Sales Prices Up 10%

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Checking The Pulse Of The Kansas City Real Estate Market


The latest released KAR state-wide stats (January’s stats) show the state of Kansas had further improvements in both volume of homes sold (closed) and in average home sales prices. Home sales volume jumped 11.6% in January compared to January 2011 market stats. This is another in a long line of monthly jumps and follows up a 15.9% increase in last month’s update.

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Average home sale prices rose 9.7% compared to January of last year and follows up last month’s 6.5% increase. There was an influx of new inventory during the month and January’s sales rate compared to the volume of homes for sale, resulting in 7.7 months of inventory on the market. There was 5.4 months of inventory in last month’s stats and the current volume of inventory represents a slight buyer’s market. This ends a run of 10 months of a balanced real estate market, but is likely more of a sign of the stats crossing the holiday season than a long-term trend. I expect by next month’s check the stats will have moved back into a balanced real estate market.

Locally here in Johnson County Kansas, the real estate market remains solid for home sellers. In the past 30 days there were 544 homes sold and comparing this sales rate against the current volume of homes for sale, there’s 3.8 months of inventory on the market. This is an improvement over last month’s 5.0 months of inventory and represents a seller’s market in Johnson County Kansas.


Posted by Jason Brown

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Real Estate Stats Across Kansas Continue Down A Favorable Path For Home Sellers

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Checking The Pulse Of The Kansas City Real Estate Market


The May housing market stats for Kansas, as recently posted by Kansas Association of Realtors, indicate continued improvements in both the home sales rate and home sales prices. State-wide, home sales rose a whopping 13.2% in comparison to May 2011. This follows up a 3.2% jump when checked last month. Nationally, home sales increased an average of a 9.6% compared to May 2011, showing further improvement in the housing market. 

Average sales prices rose 2.8% after last month’s 8.7% jump. Using May’s sales rate compared against the volume of homes for sale, there’s 5.6 months of inventory on the market. The stats a month ago showed Kansas with 6.4 months of real estate inventory, so this is the second straight month that Kansas has been in a balanced real estate market.

Locally in the Johnson County KS area, the market stats are even more impressive. In May there were 942 homes sold during the month. Comparing that sales rate to the current volume of homes for sale in Johnson County Kansas, there’s 3.3 months of inventory on the market. This is an improvement over last months already impressive 4.1 months of inventory on the market. This is all good news for Johnson County Kansas home sellers as we head into the heart of summer. 


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Are You Ready To Sell Or Buy A Kansas City Home Without Signing Any Papers?

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Checking The Pulse Of The Kansas City Real Estate Market

We’re always studying ways to make the process of buying or selling a home easier on our clients. For the past couple of years, we’ve been light years ahead of 9/10 of the competition when it comes to transaction management. Every document of every offer we’re involved with is uploaded online. So any time a client needs something sent to them, it’s a push of button away.

When we list a home, the only papers that sellers still have to deal with is the seller’s disclosure addendum, which must be personally filled out. The rest of the listing documents can all be signed electronically, without printing out a single sheet of paper. Same goes for putting together a contract with our home buyers. I recently completed an entire transaction where neither my seller or the other agent’s buyer ever printed any of the documents.

Time after time our clients tell us we’ve helped them through the easiest real estate transaction they’ve experienced. All real estate agents are not the same and sometimes it’s the little things that make a difference… and sometimes it’s the big things. We’re always looking for ways to make the process easier and more efficient for our clients and everyone else involved in the process of buying or selling real estate in Kansas City, Johnson County Kansas, Overland Park and the surrounding area.


Posted by Jason Brown

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Did You Know 50% Of Realtors Haven’t Closed A Single Transaction In The Past Year?

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Checking The Pulse Of The Kansas City Real Estate Market

Since the real estate downturn 1/5 of Realtors across the country have gotten out of the business.  The slow market has left many agents questioning whether they’ll be in business next month. The costs are certainly high to keep up with an agent’s monthly office fees, MLS dues, NAR dues, Lock box fees, gas costs, advertising costs, care for the kids when working night, etc. So, if you’re thinking right now about hiring a listing agent or buyer’s agent, consider that a recent CNN Money article estimates about 50% of Realtors nationally did not close a single transaction in the last 12 months. Wow, that’s incredible!


It’s hard to believe that half of Realtors with a current real estate licensed didn’t close a single transaction the past year. This tells me that half of my competition isn’t on top of the real estate market, aren’t current on what’s working well for buyers and sellers in today’s market and, most likely, are part-time real estate agents holding out for when they sell their own home or hoping a relative or a friend will call soon to buy or sell a home.

If you’re considering hiring someone you know, you should ask them about their business. Ask yourself, would you hire a financial planner who hadn’t completed a single investment transaction the past year? Would you choose an insurance agent who hadn’t written a single insurance policy the past year? You should definitely hire an agent because they’ll help you sell your home as quickly as possible and help you obtain the highest net proceeds… Or if you’re buying a home, you’ll want an agent who is not in a rush to get a closing and who will help you locate the best homes within your parameters, while providing expert representation all the way through the process.


Posted by Jason Brown

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Potential FHA Loan Changes Would Have A Drastic Effect On Kansas City Home Buyers… And Home Sellers

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Checking The Pulse Of The Kansas City Real Estate Market

Mortgage industry consultant Brian Chappelle estimates that FORTY PERCENT of home buyers would fall out of the market-place if FHA raises the minimum down payment requirement from 3.5% to 5%. I just don’t see how we can afford to implement these types of drastic changes with a real estate market – and economy – already on edge. The lack of buyer demand is already harming property values across the country and imagine what would happen if 40% of home buyers disappeared due to sweeping FHA mortgage changes.


Increasing the minimum down payment from 3.5% to 5% on a $200,000 Johnson County Kansas home, would increase the home buyer’s down payment from $7,000 to $10,000. That’s a very significant THREE THOUSAND dollars and anyone thinking the potential FHA changes would be insignificant should think again.  $3,000 is guaranteed to run many home buyers we’re working with right now out of buying home. That will mean less demand for area home sellers and we all know what that means — lower sales prices.  These changes are very likely to happen though as we work to lessen the government’s involvement in the housing market. I hope there’s someone with a good head on their shoulders suggesting they SLOWLY (incrementally?) implement these types of changes. If not, it’s going to be a bumpy ride. 


Posted by Jason Brown

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Kansas City Home Buyers Getting FHA Loans To Face Higher Monthly Mortgage Payments

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Checking The Pulse Of The Kansas City Real Estate Market

So in addition to the possibility of Fannie Mae being put out of her misery (and ending conventional loans as we know it), now it’s announced that FHA loans will have 1/4 percent higher annual mortgage insurance premiums. This is guaranteed to lower the volume of FHA loans once the increase is put into effect in April. The FHA change directly affects borrowers getting an FHA loan while making less than a 5% down payment. Of course, that’s the majority of borrowers who often choose a FHA loan because it only requires a 3.5% down payment.  If you’re already approved for a FHA loan but have yet to go under contract, I suggest you get up and shake a leg.


The 1/4 percent increase comes from a jump from a 0.90% mortgage insurance premium (MIP) on these loans to 1.15% MIP. The jump is based on the loan amount. These changes are designed to keep FHA loans alive during a time when the agency is battling foreclosures on the books. The change is expected to generate more than $2 billion in funds for FHA and help the agency meet the congressional mandate to have 2% cash in reserves. While the news is certainly not good, allowing the FHA loan program to fail would have terrible consequences on our real estate market. Keep in mind that more than half of the loans being provided to home buyers today are FHA loans.

I ran some rough calculations and this change would increase the payment on a $150,000 loan about $30 or so per month.  That may not seem like a lot but it’s $360 year, so it will have an affect. If the loan amount were $300,000 the figure would double. Despite the changes, FHA is still a cost-effective loan for borrowers and will continue to be a leading loan options for first time buyers, buyers with lower incomes and buyer’s who have less than the 5% down payment required on conventional loans. Another note I found interesting was that FHA will not provide a refinance loan if the refinance does not reduce the borrowers monthly mortgage obligations by at least 5%. That seems like a solid, common-sense rule to me.


Posted by Jason A. Brown

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Kansas City Area Second Quarter Market Update Shows Promise For Kansas City Area Home Sellers

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Checking The Pulse Of The Kansas City Real Estate Market

My National Association of Realtors has released the second quarter 2010 market statistics for the Kansas City metro area. The local trend shows that home prices have rising 4% when compared to the second quarter of 2009. The report gives us a look back nine years and I found it interesting to note that second quarter sales prices in the Kansas City area are down $7,100 on average compared to three years ago, but still up $5,900 over the past seven years.


So the average buyer who bought in 2003 is still ahead after the market downturn, but the average buyer who bought in 2007 is, well, wishing they’d bought in 2003. There’s a ton of other interesting information in the NAR report, including local employment growth at a rate better than most other markets and construction being on the rise – albeit it modestly – which indicates local new home inventories have stabilized.

The report also shows the Kansas City real estate market is one of the most affordable housing markets in the U.S. and there’s also details showing a decrease in the volume of loan delinquencies, thus suggesting area foreclosure rates should decrease in the future. Be sure to click the graph above to check out the entire report on the Kansas City metro area. Be patient after clicking on the graph as it’s a large PDF file and could take a minute to open.

Posted by Jason A. Brown