Shawnee Kansas Real Estate Update – July 2011

Checking The Pulse Of The Kansas City Real Estate Market

Real Estate Statistics On Shawnee Kansas
15 Day Glance At The Shawnee KS Real Estate Market

After calculating the absorption rate over the past 15 days in Shawnee Kansas, we find the city has 13.6 months of inventory currently on the market. This is very high and we need more than 17 homes selling in a two-week period to eat through the 463 homes for sale in Shawnee. Almost twice as many homes went under contract as sold (closed) during the same 15-day period and that’s a good sign.

Type # Average $ Avg DOM
Listings Past 15 Days  59 $239,992
Total Active Listings 463
Newest Contracts Written 31 $198,029 106
Newest Sold (Closed) 17 $188.012 117

* 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 average sales price of the last 17 sales in Shawnee was right at $188,000, while the average price of the 59 new listings was nearly $240,000.  If you are making plans to buy or sell a home in Shawnee Kansas, we look forward to going over the market stats that specifically affect your buying or selling decisions. Here’s information on how we assist Shawnee Kansas home sellers and how we assist Shawnee Kansas home buyers. Please contact us with any questions you may have. We look forward to assisting you!

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Posted by Jason Brown

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Shawnee Kansas Real Estate Update – March 2011

Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Shawnee KS
Recent
15 Days of Shawnee Kansas Market Activity

Using the past 15 days of market stats to calculate the absorption rate in Shawnee Kansas, we find there’s 6.3 months of inventory on the market. This figure is based on the 369 homes for sale in Shawnee Kansas. These stats are much improved from a little over a month ago when we had well more than a year of inventory on the market in Shawnee. The improvements were seeing are mostly do a higher volume of sales (closings) over the past 15 days, rather than fewer homes being present on the market.

Type

#

Average $

Avg DOM

Listings Past 15 Days

66 $229,067

Total Active Listings

369

Newest Contracts Written

42 $210,416 146

Newest Sold (Closed)

29 $183,368 161

* The Average $ of Newest Contracts 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 results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

The volume of homes that went pending (42) the past 15 days was even more impressive and gives hope for an improving Shawnee Kansas real estate market. A close eye will need to be kept on home prices because the average listing came on the market at nearly $230,000, while the average sales price was close to $183,000. If your real estate goals involve buying or selling a home in Shawnee, please contact us to discuss your situation and how we can assist you.

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Posted by Jason A. Brown

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Shawnee Kansas Real Estate Update – February 2011

Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Shawnee Kansas
Recent
15 Days of Shawnee KS Market Activity

I calculated the city of Shawnee’s real estate absorption rate using the past 15 days of market stats. I then compared that absorption rate against the current volume of homes for sale in Shawnee Kansas. What I found is a very high 19.5 months of inventory currently on the market. The sales rate we saw the past 15 days – of just 4.5 closing a week for the entire city – is very slow. The sales pace needs to pick up to eat more quickly into the 350+ homes for sale in Shawnee.

Type

#

Average $

Avg DOM

Listings Past 15 Days

35 $215,737

Total Active Listings

352

Newest Contracts Written

20 $222,676 112

Newest Sold (Closed)

9 $214,394 102

* The Average $ of Newest Contracts 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 results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

The Pending sales over the same 15 day period was better, with 20 homes going under contract. But even if we assume all those homes will make it to the closing table (and used that figure to calculate the absorption rate), there’s still 8.8 months of inventory on the market in Shawnee KS. If you are planning to buy or sell a home in Shawnee, please contact me to discuss your buying or selling situation. I look forward to learning about your real estate objectives and helping you make it happen.

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Posted by Jason A. Brown

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Shawnee Kansas Real Estate Update – January 2011

Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Shawnee Kansas
Recent
15 Days of Shawnee KS Market Activity

After calculating the absorption rate over the past 15 days in Shawnee, we find there’s 11.4 months of inventory on the market at the recent sales pace. This is high and a sales pace of 30 sales a month is only slowly eating up the available inventory. There were a decent number of homes going under contract the past 15 days and this gives Shawnee home sellers hope that things are picking up as we head into the new year.

Type

#

Average $

Avg DOM

Listings Past 15 Days

21 $219,931

Total Active Listings

343

Newest Contracts Written

23 $179,559 312

Newest Sold (Closed)

15 $210,322 154

* The Average $ of Newest Contracts 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 results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

If your real estate objectives involve buying or selling a home in Shawnee Kansas or in a neighboring city, please contact me to discuss your situation. I provide clients expert guidance when buying a selling their homes and I look forward to learning more about your situation and helping you achieve your real estate goals.

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Posted by Jason A. Brown

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Months Of Kansas City Real Estate Inventory Broken Down By Price Range

Checking The Pulse Of The Kansas City Real Estate Market

As a tumultuous 2009 comes to a close,  it’s time to analyze our local market stats from a little different perspective. Rather than looking at a specific city or micro-analyzing a particular subdivision, below we take a look at the Kansas City metro market as a whole and break things down by price range.  The following includes single family properties only and uses an absorption rate calculated using the average monthly sale’s rate over the past 6 months in each price range…

Price Range Active Listings Months of Inventory
Under $50,000 1,382 6.8
$50 to $100 2,819 10.0
$100 to $150 3,274 10.5
$150 to $200 2,696 8.8
$200’s 2,315 7.6
$300’s 989 8.8
$400’s 445 8.4
Over $500,000 872 16.8


Other than upper bracket homes, there’s a high volume of inventory in the $50,000 to $150,000 range. Since months of inventory factors in the sales rate within the price range, the high numbers in these price ranges can’t simply be chalked up to there being more homes in the particular price range. There’s simply a lot of homes on the market for the buyer demand that’s out there for this price range of home.

The $200’s price range  is the most stable price range in the metro area, with 7.6 months of inventory currently on the market. If you’re a buyer looking for a home over $500,000, you should be pleased when you see what your money can buy you in today’s real estate market.  Certainly, with more than 16 months of inventory on the market in the upper bracket price ranges, you’ll find some motivated sellers.


Posted by Jason A. Brown

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7 Reasons Why Now Is A Great Time To Buy A Home In Johnson County Kansas

Checking The Pulse Of The Kansas City Real Estate Market

Once a “looker” makes the decision to become a “buyer”, I enjoy guiding them through the process and working to make the experience as enjoyable, predictable and profitable as possible. But simply making the decision to start the process paralyzes many home buyers and leaves them on the fence. It’s understandable that a down market can do that. But if you’re one of the “lookers” out there questioning whether the time is right to buy a home in Johnson County Kansas, I encourage you to consider the following seven factors.

The first factor to consider is that home affordability in Johnson County Kansas  is higher than it’s been in more than 30 years. The second factor to consider is that mortgage rates have dropped a full percent, which means you can afford a home worth $25,000 more than you could afford a year ago. A third factor is the multiple reports circulating that home prices have stabilized nationally and in most areas have begun to increase. A fourth factor to consider is the huge motivation Johnson County home sellers are faced with due to the unprecedented volume of homes currently for sale.

The fifth factor to consider is financing is readily available for buyers with a 5% down payment and a 640+ credit score.  The sixth reason for buying a Johnson County Kansas home this fall is because mortgage payments compared to average rentals rates have become more favorable towards owning than they’ve been in nearly a quarter century. The seventh reason to buy a home is because, well, it’s your home. There’s nothing like the pride of homeownership. Though most homeowners will complain about having to mow the lawn, once the job is done nearly every one of them stops to look back with pride at the lawn they own. Check out the full 10 page report by clicking the image above.


Posted by Jason A. Brown

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Tax Credit Party Continues With News That May Homes Sales In Kansas Were Up More Than 20%

Checking The Pulse Of The Kansas City Real Estate Market

When it was reported about a month ago that April home sales in Kansas had risen more than 40% from the previous April, I was very impressed. Although the news had to be taken with a grain of salt – because it was tax credit fueled – I was still looking forward to seeing some more tax credit fueled sale’s figures for May. Well the figures are out and the party continues with news that Kansas home sales were up more than 20% in May 2010 over May 2009.

This is good news no doubt, but not as impressive as April’s report was compared to the nationally sales figures. In April, the increase in the sales rate from the previous year in Kansas was almost double that of the comparable national sales rate. But in May the increase in the Kansas sales rate was much more in line with what’s going on nationally — a 22.6% increase locally in Kansas compared to 19.2% nationally. The raw numbers, as reported by my Kansas Association of Realtors (KAR), shows there were 3,355 homes sold this May, compared to 2,737 in May 2009.

KAR reports there’s 5.6 months of inventory on the market, which is a slight improvement over April’s report of 5.7 months of inventory. Before there was an extension to the deadline for tax credit closings to occur, many close dates were set for mid to late June. So I expect that when June’s figures are release those will be better than last year as well. The extension provided for closings may also lead to higher sales rates when the July and August stats are reported down the road. In other news from the May report, the average sales price in Kansas was $157,822. This is a decrease from the $161,928 average sale’s price in May 2009.  Taking an isolated look at the Johnson County Kansas real estate market, there were 935 home sales in May of this year, which was a 22% increase over May 2009.


Posted by Jason A. Brown

Shawnee Kansas Real Estate Update – May 2010

Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Shawnee Kansas
Recent
15 Days of Shawnee KS Market Activity

Looking over the past 15 days of Shawnee Kansas real estate market stats to figure the city’s absorption rate, there’s 4.4 months of inventory. This is not bad at all and Shawnee has posted back-to-back reasonable reports. The inventory is clearly being worked off at a decent rate though it should be noted trouble could be on the horizon. I’m concerned about having just 25 homes go under contract over the past 15 days. At that rate, there’s closer to 8 months of inventory on the market.

Type
#
Average $
Avg DOM
Listings Past 15 Days
60 $225,852
Total Active Listings
407
Newest Contracts Written
25 $255,922 84
Newest Sold (Closed)
46 $207,469 119

* The Average $ of Newest Contracts 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 results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

As with other local cities, we are still facing the problem of sellers believing there homes are worth more ($225,852) than homes are selling for ($207,469) the past 15 days. There’s a pleasant surprise in that the average priced home to go under contract the past 15 days was $255,922.

Shawnee Kansas is a popular Kansas City suburb located in Johnson County Kansas. If you’re considering selling or buying a Shawnee KS home, we’ll get you the market stats specific to your preferred area. We’ll help you make an informed real estate decision, so please let us know whenever you have questions or need community-specific market stats.

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Posted by Jason A. Brown