This blog will give you an idea of how Prairie Village, KS homes are selling this year compared to last year...let's get to it:
In September 2011, 35 single family homes sold. The lowest sales price was $74,000; the highest was $425,000. Average sales price was $177,901 and average list price was $184,437. Average days on market: 95.
In September 2010, 22 single family homes sold. The lowest sales price was $70,000; the highest was $445,000. Average sales price was $189,097 and average list price was $196,070. Average days on market: 75.
Let's compare year to year:
From Jan-Sept 2011, 297 single family homes sold, with an average sales price of $210,727 and 96 days on market.
From Jan-Sept 2010, 292 single family homes sold, with an average sales price of $214,959 and 69 days on market.
Looking at these figures, you can see that prices continue to fall. When the average days on market is longer, prices fall because sellers must take less for their homes just to get it sold--and buyers offer less as well. In 2010, we had the advantage of the first time homebuyer's tax credit, which perhaps kept prices more stable due to increased demand. Overall, Prairie Village is still a desireable location for homebuyers--more units sold this year than last. Low interest rates coupled with lower prices does make this an ideal time to buy a home in the area. I don't foresee a rise in average prices until the busier spring buying season of 2012 when more new listings are up for sale.
If you would like to know what homes are selling for in your area--email me with your address and I'll send over the stats. Thanks for reading my blog!
(Note: All information taken from Heartland MLS; deemed reliable but not guaranteed)
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