Johnson County homes sales continues strong in the housing resale market through the end of October, 2013. We have noticed a continued decrease of inventory as well as an increase of closed transactions, which both indicate a healthy market continues here in Johnson County.
There are actually 23.4% fewer homes on the market this year than there were two years ago, and 16% fewer than third quarter of last year. The month of October even recorded another 13% drop in inventory beyond the end of the third quarter of this year. Closed sales for the month of October are up 13% over October of last year as well..
This reduction of inventory shows there is definitely less to choose from for the serious-minded buyer who is ready, willing, and able to purchase a home for sale in Johnson County when they find the one right for them. This lack of competition should motivate anyone thinking of putting their home on the market in the not-too-distant future, to get it out there now, before interest rates begin to climb and before qualifying for a mortgage becomes more difficult next year. Closings were up a robust 17% over this time last year. So if you are thinking of putting your home on the market, now is the right time to make the preparations and get the process started.
The increased sales have been accompanied by a continuedl increase in the selling price as well. Compared to October of last year, the sale price in Johnson County has risen 3% to an average price of $241,613. Last year at this time is was $230,975. This is a clear indication that there are buyers out there competing for the current inventory.
During this past month, the most popular sale price category of resale homes in Johnson County happened to be the $200,000-$250,000 price range for 3 bedroom homes. It was the same biggest price range for 4 bedroom homes as well, just beating out the $250,000 to $300,000 price range for 4 bedrooms by only one closed sale.
The market generally gets a bit sluggish during the holiday season, as people are distracted with many commitments. However, if you have a home for sale in Overland Park or any other Johnson County community, and are willing to adjust to the small interruptions that showings can create, do not despair, because the buyers who are out there looking right now are very serious about making a move.
If you are considering putting your home on the market when we enter our Spring Market, which depending on the weather, can be late February to the middle of March, now is the time to begin prepping your home. We are very happy to meet with you and help you know what is needed to get your home ready to sell! Keep in mind, that I am a Certified Staging Professional. Another great service for you – staging your home!