Dwight Goodwin on Improving Conditions of the Johnson County KS Real Est...

Statistics from Heartland MLS indicate improving conditions for home sales in Johnson County Kansas. Single Family closed sales are up 25% YTD over 2011 figures YTD, while average sales price is up 2% over the same period. A second sign of an improving market is the increase of new home sales; closed volume is up 30% year over year, while the average sales price is up 7%.

A March 2011 to March 2012 snapshot of For Sale vs. Sold shows a 14.6% drop in inventory, with a 7.1% increase in sales. There is currently less than 6 months inventory of single family homes in Johnson County. If this number drops further when the April numbers are released, this will be further evidence of a stabilizing market.

Buyers should remain in favorable conditions, particularly with interest rates still near all-time lows, but sellers may also see more opportunity as inventory drops and average sale prices rise.