Home sellers will want to consider staying in the market this fall and winter. Conventional wisdom often suggests there are fewer home buyers in late fall and winter, leading many sellers to take their homes off the market and wait for spring.
While home inventory did drop 30-40 percent last winter, home sales increased dramatically in the same period. Many of those who stayed in the market SOLD their homes quickly and were able to take advantage of the spring listing period to buy their next home.
The latest statistics released on October 15, 2012, show that a seasonal slowdown may already be occurring. One indicator is that Johnson County home sales for September mirrored the closed home sales from September of 2011. Another? A month ago, closed sales were up 24% YTD; this month the data indicates closed sales are up 21% YTD.
The skeptical seller might say that the decrease above is a good reason to follow conventional wisdom and wait it out until spring. What is missing in the picture is the fact that there is under three months of inventory in the marketplace county wide (and buyer demand remains high). Even the slower areas of Johnson County are under four months of home inventory - a far cry from the 6-9 months we were experiencing just a year ago.
Call us today for an evaluation of your home and neighborhood (913-912-3470) and let's get your house SOLD sooner rather than later!
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Monday, October 15, 2012
Dwight Goodwin on the Continued Market Shift in Johnson County KS - Sept 2012
A huge market shift continues to occur in the Johnson County KS real estate market. A significant drop in homes being listed (down 22% YTD) coupled with a great rate environment for buyers has resulted in a huge increase in closed sales (up 24% YTD) in the local real estate market.
Just one year ago, many areas in the county had 7-9 months of home inventory and buyers were king. While buyers are still big winners due to the low interest rate environment and 5+ years of price declines, sellers with sufficient equity are now able to move their houses more quickly at terms more favorable.
The average Days on Market are down 30 days per listing in the last six months, sales prices are up an average of 1.5% county wide YTD, the percent of original listing price received is up 2.1%, and multiple offers are occurring on a more regular basis.
Contact Dwight Goodwin at 913-912-3470 for a full analysis of your Johnson County KS home to see how this changing real estate market affects your bottom line.
Just one year ago, many areas in the county had 7-9 months of home inventory and buyers were king. While buyers are still big winners due to the low interest rate environment and 5+ years of price declines, sellers with sufficient equity are now able to move their houses more quickly at terms more favorable.
The average Days on Market are down 30 days per listing in the last six months, sales prices are up an average of 1.5% county wide YTD, the percent of original listing price received is up 2.1%, and multiple offers are occurring on a more regular basis.
Contact Dwight Goodwin at 913-912-3470 for a full analysis of your Johnson County KS home to see how this changing real estate market affects your bottom line.
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