Monday, August 07, 2006

Latest Kansas City Real Estate Market Stats

Hello - sorry I've been away. Vacations. Business. Etc.

Everyone everywhere in the news is talking about the real estate slowdown. Well, that may be true nationally. But here in the Olathe Keller Williams Realty office we had a record month in June and were just barely off last year's pace for July. Personally, I had my best month ever for July. Who knows what all this means.

The Greater Kansas City MLS system, the Heartland MLS, shows that we currently have 21,866 listed properties for sale. And for the month of June we (meaning all the 10,000+ REALTORS who belong to Heartland) sold 4,241 homes. If you know your math you will see that is just a little over a five month supply of homes. Now us REALTORS feel that a six month supply of homes is "par".

I would like to delve into this a little deeper. The sales are not that far off our historically high marks. What is up, and tremendously so, is the listings. It seems everyone has a home to sell. So if yours isn't selling the market must be slow. But I am also finding that many of these listings are simply testing the market. This really isn't the market to do that! Either price it to sell or get it off the market and quit wasting your time. After all, nothing is more annoying than having to get out on 20 minutes notice just so someone can show your home.