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.
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