Home Sales Market Report-Prairie Village KS June 2012

I am surprised at the home sales stats I have to report for Prairie Village, KS. This spring has been generally strong for sales in the metro area, yet the average sales price is down in Prairie Village. Let’s examine the numbers and I’ll make some comments at the end.

In June 2012, 49 single family homes sold. The average list price was $242,963 and the average sales price was $238,568. Average days on market: 87.

In June 2011, 41 single family homes sold. The average list price was $256,310
and the average sales price was $248,415. Average days on market: 82.

Average sales price dropped 4.7% from June 2012 to June 2011.

Now let’s look at year-to-date figures:

From January-June 2012, 204 single family homes sold. Average sales price was $221,855. Average days on market: 104.

From January-June 2011, 177 single family homes sold. Average sales price was $221,408. Average days on market: 110

Average sales price during both six month periods is virtually unchanged.

It’s encouraging to see the number of units sold is up compared to last year. I have a few theories on the change. In 2011, more of the higher priced homes may have sold in Prairie Village, bumping up the average price. In 2012, perhaps more lower priced and foreclosed/short sale homes closed. There is a shortage of well maintained, updated homes in the $200-$250K price range in PV--active buyers may be settling for the lower priced homes that need some maintenance and/or updating. Whatever the reason, more homes are selling and that's great news! If you would like home sales stats for your particular area, email me for a report.

(All figures taken from Heartland MLS; deemed reliable but not guaranteed.)

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