The numbers just released by Kansas City Regional Association of Realtors, the number of homes sold in Johnson County during August was 933 closed transactions. This was an increase of 13% for existing home sales over August of 2012 for Johnson County. Wow! This actually tops the totals for August for the past 6 years! Our area continues to be way ahead of the national trends when it comes to home sales, and home prices. The threat of potentially climbing interest rates is probably motivating some people to “pull the trigger” now and get into the market, as opposed to waiting, like they would traditionally, until the Spring market.
The average sale price of an existing home for the month of August, 2013, for Johnson County was $245,345. This is a 2% increase from the same month a year ago.
The number of contracts pending is down from this time last year. However, this is really not much of a surprise with the extreme heat we experienced over the last part of the August. The inventory for existing homes for sale in Johnson County available during August was 2,709, with 1,042 being new listings coming on the market during the month. This equals approximately a three month supply of inventory.
Typically we see sales drop off during August when the heat makes looking at homes difficult. Add to that many folks who are preoccupied with “back to school” and all that accompanies getting kids ready to get back into the routine. Therefore, it follows that home-buying takes a temporary back seat to other activities at this time of year.
The most popular price range during August once again was $200,000-$250,000, for 4+ bedrooms, with 154 purchases. In the 3 bedroom market, the most popular price range was $160,000-$179,000, with 70 homes sold. 390 Sellers who had homes in good condition and who were asking realistic prices were able to sell their homes within 30 days. WOW! That is 42% of the homes out there for sale. So serious Buyers are out there, and getting right down to business, which allows Sellers to avoid enduring the interruption of “showings” for too long. The second largest category of homes sold was 31-60 days, but there were still over 93 homes which finally did sell after being on the market over 120 days. The real estate market remains healthy in Johnson County.
Now is a good time! Especially in the coming months with sales are normally see a little of a slow down!
Here’s some resources to consider: