Along with the usual low number of sales and slight drop in average sales price, we see a small glimmer of hope here. In Johnson County, sales prices are pretty much holding steady from last year, while new construction prices are slightly up. As for Jackson, the prices are down but the number of sales seems to be increasing. The entire metro area is still reporting fewer sales and slightly lower sales prices.
- Johnson County, Kansas: Johnson County adjusted sales were down 6.59% from 2007 with 571 contracts for 2008 versus 611 in 2007. Sales prices for the month were down only 0.80% from last year. The average price in September was $245,725 versus $247,696 last year. Dissecting the numbers, we see that the average sales price of new construction was up this month by 3.9% at $387,152, and the resale price decreased 1.2%, to $220,856. Year to date, the Johnson County average price is under last year. The average 2008 price is $254,430, versus $261,062 last year, a 2.5% difference. Johnson County’s new listings were down again in September and continue to be lower month over month since last November. New listings decreased by 5.19% to 1,114 units. Inventory was down 3.13% from last year or 150 units, and down 76 units from last month.
- Jackson County, MO: Jackson County sales were up for the month 6.48% from 2007. Units were at 772 versus 725 last year. The average sales price for the month was down 5.23% from last year, with an average price of $122,196. New listings in Jackson County were down 310 units to 1,434, down 17.78% from last September’s 1,744 units. Inventory dropped again, down 14.10% from last year and is running at 7,268 units. September inventory is down 308 units from last month.
- Entire MLS area: For the month of September… Sales for the entire Heartland area were off for the month by only 1.3%, or 29 units. The average price was down 6.9%, averaging $159,812. For the year to date… Heartland sales were off 11.3% to 24,311 units. Average sale price fell 6.9% to $169,735.