Monthly Market Statistics – November 2011

This report is a bit late due to the holiday distractions, but here is the local November real estate sales data. The data compares November 2011 with the same month last year (November 2010). Overall, sales and prices are slightly down from last year.

Out of curiosity, I thought I would check a couple of sample areas to see if the drop in sales and prices is widespread. In both Brookside (zip code 64113) and Prairie Village, sales were up and prices were either increased or relatively unchanged. This is great news for many area homeowners who are tired of seeing their values decline. We may continue to see declines in the overall market in the coming year due to the persistence of distressed sales and foreclosures; however, I expect that we will continue to see improvements in certain target markets.