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How’s the Real Estate Market?
Monday Morning Update
By now, surely you’ve heard there is a shortage of inventory especially in the Overland Park real estate market. While many sellers were waiting for spring, it came early this year since there was no harsh winter.
Timing is everything in the real estate market
People always ask me when is the right time to sell their home. When selling your home, timing does come into play if you want to sell for the most money. You should know what kind of market you are in for your home’s price range.
For example, in Johnson County:
$160,000-$300,000 is a seller’s market with a negative 1.68 months of inventory
$300,000-$400,000 is a seller’s market with 2.55 months of inventory
$400,000-$500,000 is a balanced market with 4.4 months of inventory
$500,000-$750,000 is a buyer’s market with 11.7 months of inventory
$750,000-$1,000,000 is a buyer’s market with 19 months of inventory
This is a unique moment in history where if you play your cards right, you can sell in a seller’s market and buy in a buyer’s market.
Here are the current Johnson County real estate statistics for March as reported from Heartland Multiple Listing Service:
Total MLS Inventory: 10,314
Johnson County: 2,498
New Listings: 1,458
Show for Backup: 332
Average Price: $279,386
Average Price Last Year: $278,427
For current Jackson County stats click here.
Effective today there are 451 active single family homes listed for sale in the Blue Valley School District
Here’s the breakdown:
$160,000 – $300,000 18
$300,000 – $400,000 35
$400,000 – $500,000 105
$500,000 – $750,000 194
$750,000 – $1,000,000 106
Is this a good time for you to sell? It might be. But as you can see, not every house is selling. 451 houses is still a lot to choose from. Selling your home is simple, but it’s not easy. You still need to do the hard work even when selling in a seller’s market.
Call me at (913) 515-3250 to sit down and discuss your options.
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(all data current as of 5/24/2019)
Listing information deemed reliable but not guaranteed. Read full disclaimer.