This is data for the month of September from the Heartland Multiple Listing Service (MLS). The information has been edited to include only Jackson County, Missouri, and Johnson County, Kansas. I make no guarantees or warranties on this information. After reviewing, my brief analysis is that we are still in a down market, but there are signs that we are beginning to come out of it. I think we are experiencing the bottom of the wave this year, and I predict a better year in 2008. A word of advice to all the buyer’s out there: do not buy when prices are going down, buy when they are on their way up. I think that time is now and over the next few months!
- Johnson County, Kansas adjusted sales (units) were down 16.43% from 2006 with 604 contracts for 2007 versus 723 in 2006. Year to date, units remain down 8.56% at 7,919 units.
- Johnson County sales prices for the period were off as well. The average price in September 2007 was down 4.05% to $245,822 versus $256,197 last September. Month-over-month, September had the lowest average sales price for 2007. Year to date we are seeing a 1.15% increase over 2006. Dissecting the numbers, we see that the average sales price of new construction was up 10% to $366,688 for the month, while the resale price was down 4.9% to $222,864.
- Johnson County‘s new listings decreased 6.0% to 1,175 units. Inventory was up slightly from last year, up 36 units from September 2006. For the first time in 2007, inventory was down from the prior month. Inventory dropped 90 units or 1.8%.
- Jackson County, Missouri sales were off as well, falling 17.38% from 2006. Sold units were at 732 versus 886 last year. Year to date sales are off 510 units from last year, with 8,937 units sold, a 5.40% decrease from 2006. The average sales price was off as well. The average was down 7.91% for the month and 5.29% year to date, with an average price of $141,381 for the year. Like Johnson County, Jackson County new listings were down 53 units to 1,744, down 2.95% from last September’s 1,797 units. Inventory remains higher, up 9.24% over last year. Inventory is running at 8,461 units. September inventory was the first reduction in the month-over-month inventory count, down 160 units from last month.