March KC area Real Estate Statistics
- Johnson County adjusted sales* were down 22.74% from 2007 with 782 contracts for 2008 versus 1,012 in 2007. Sales prices for the month were relatively unchanged. The average price in March was $250,440 versus $251,058 last March. Dissecting the numbers, we see that the average sales price of new construction was down 4.2% to $373,646, and the resale price increased 2.5%, to $227,665. Year to date, the Johnson County average price is dead even with last year. The average price was $254,715, versus $254,731 last year. Johnson County‘s new listings were down again in March. New listings decreased by 18.45% to 1,251 units. Inventory was up from last year, up 99 units from March 2007 and up 156 units from last month.
- Jackson County sales were off as well, falling 17.14% from 2007. Units were at 933 versus 1,126 last year. The average sales price for the month was down 7.26% from last year, with an average price of $128,451. New listings in Jackson County were down 549 units to 1,790, down 23.47% from last March’s 2,339 units. Inventory remains higher, up 2.54% over last year and is running at 7,798 units. March inventory is up 193 units from last month.
- Sales for the entire Heartland area were off for the month by 21.9%, or 776 units. The average price was down 3.3%, averaging $168,384.
So, the market is still slow, with a large inventory. Prices are not off by much. As compared with last year, it has declined, but overall there are still a great number of homes being bought and sold in our metro area.