This week it has been hard to avoid the negative news about real estate. CNN.com reports that national sales of single-family homes sank 27.1% in July compared to the prior month, while condominium and co-op sales tanked 28.1%, and new home sales dropped 12.4%. This got me wondering if the numbers were similar in the areas in which I work such as Brookside, Prairie Village, Leawood, Roeland Park, etc.
I have taken several sample areas and compared June 2010 with July 2010 sales rates. It would seem that these areas are also being hit very hard by the economic downturn and the expiration of the pesky federal home buyer tax credit. The bright spot is my neighborhood of Brookside, hooray!
- Kansas City MLS area from downtown south to about 75th: Sales Dropped 30% from June to July.
- Northeast Johnson County (east of I-35, north of 75th St): Sales dropped 44% from June to July.
- Brookside (sample zip code 64113): Sales remained almost constant with 25 in June, to 22 in July. The percentage drop calculates to 12%, but this is negligible.
- Prairie Village: Sales rates dropped 48% from June to July.
*Keep in mind, this is just the number of sales, NOT prices. Figures compiled from local MLS system – these numbers are deemed reliable, but not guaranteed.