Monday, July 19, 2010

Kansas City Market Reports for June 2010

As a Board of Director for the Heartland MLS, I'm eager to share last month's home sales reports for the Kansas City area.  Overall, the month of June was not bad in the world of Real Estate.  Prices have increased slightly for both new and existing homes, sales for new homes are up, inventory for new homes is down, and supply for new homes is decreasing.  On the flip side, new home prices in all Kansas counties were down and the inventory for existing homes was up.

Average Sales Price:  For the month of June, the average new home price was $296,768, which was a decrease from the same time a year ago ($302,628).  Existing home prices were at $167,487, an increase of 4% from last year ($160,734).
Home Sales:  New home sales increased 23% from last year and 31% from this past May.  Existing homes did see a hit, with a decrease of 5% from last year and 13% from May...most likely due to the ending of the tax credit program.
Inventory:  New home inventory was down 37% and existing inventory is 13% higher than it was last year at this time.
Overall, the good news is that supply has continued to decline and is lower than June 2009.  Even though there is a slight buyer's edge present in the new home market, the existing home and combined totals are nearing a balanced market.  Pickett Property Group has the tools and resources to help you with your next home search, not to mention the inventory available in the area.  Or need to sell?  Give us a call at 913.787.1870 to set up an appointment today.

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