02/13/2019
Interesting January 2019 Market stats for the Kansas City area. I’ve highlighted what I find most interesting—funny how different the stats are per county! Here you will find Jackson County, Cass, Clay, and Lafayette, Missouri counties, as well as Johnson County, Kansas.
One of the big things I see first off is that New Home Construction inventory is up 10.1% as well as Pending Sales for New Home Construction being down 25.9% over this time last year. 25% overall in a market is a pretty big number and will be something worth keeping an eye on.
Jackson County’s inventory is up 10% over this time last year—AND prices are up 6.6%--having both of these happen, inventory up with a healthy price increase is an excellent sign for the market!
It is interesting to me that the average sales price in Johnson County is down 3.1% and inventory is up 14.2 percent. Obviously, it makes sense on a supply and demand scale—with higher inventory, prices will be lower. Given the market performance however, it still surprises me it is a negative number at all rather than just a small positive one. Will be interesting to see what February brings.
My goal for 2019 is to continue to keep you updated monthly on the overall health of the Kansas City real estate market. If you would like info on how your home has performed specifically, please don’t hesitate to reach out.