Wow, it's been a very busy the past three months! Sales in Johnson County continued to be very good for single family "resale" homes. June sales were up 8% and up 19% for the quarter. 730 homes were sold in June which were only 1% less than May sales. The number of homes sold this year exceeded every month compared to last year and prices have increased every month since February including June. The average price of a resale home in Johnson County was $262k compared to $246k last June, or an increase of 6.5%.
The actual number of homes on the market for sale continue to be lower than last year, but it looks like the seller's that are serious about selling are making sure their homes are "move-in ready." In June, there were 17% fewer homes for sale compared to the same period last year. This decline has resulted in a much lower number of "Months of Inventory." The "Months of Inventory for June was down to 4.0 months compared to 5.2 months in June, 2011. This a very significant change from the past several years and another reason why home buyers should be using a professional real estate agent to assist them in their home search and negotiations.
The average days on market (DOM) have also declined. In June, the average number of days on market for sold homes was 59 days compared to 73 days last summer. Basically, homes are selling faster because there are fewer homes for sale and the buyers are making faster decisions to buy the house they like instead of waiting for price reductions or other homes to come onto the market.
Jim Krause, ABR, CNHS
Accredited Buyer Representative
Certified New Homes Specialist
Reece and Nichols
11901 W 119 St.
Overland Park, KS 66213
Mobile 913-575-0042 (best choice)
Licensed in KS and MO
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