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Lenexa KS real estate market update 01 22 2013

By Ken Jansen

Real Estate Agent with Prime Development Land CO LLC

January 22, 2013 01:17 AM

Lenexa residential real estate marketing review.

Lenexa is wonderful suburb of Kansas City.

There are 166 homes for sale in Lenexa KS as of January 22, 2013. Current asking prices in Lenexa range from $84,900 for a town home to $3 Million for a country estate home.

Lenexa housing market statistics January 22 2013

In the last 183 days there have been 324 homes sold in Lenexa. Selling home prices, in the last 6 months, range from $14,500 for a small single family home to over $1 Million for a mansion on a golf course lot. Taking the number of homes sold and dividing by 6 months gives a sales pace or absorbtion rate of homes 54 homes sold per month. With the 166 homes for sale, divided by the current demand put puts Lenexa, in general, into a Seller advantaged market with just over 3 months of inventory. Demand is outstripping supply. A seller advantaged housing market is thought of anything under 5.5 - 6.5 months of inventory based on taking the number of homes for sale divided by the absorbtion rate.

So what does that mean to a home seller? Price your home well compared to the competition and in its current condition and you should be in good spot. Even in a seller advantaged market buyers will still not buy grossly overpriced homes or homes that are in poor condition compared to the other homes on the market.