Hampton Place 2018 Real Estate Year in Review

By
Real Estate Agent with Mike Russell & Associates SP00225692 Kansas

Every year in January I write my annual recap of Hampton Place Home Sales for the prior year, 2018 will go down as the year of "Sale Pending" no sooner than a home listed did it seem like it was under contract. For those of you who are considering selling in 2019, here is a look back and my forecast for 2019.

 

A look back at 2018

The overall number of homes SOLD was relatively unchanged from 2017 and hasn't changed much over the past 5 years, we have been generally seeing about 20 to 30 homes sell per year. In a neighborhood the size of Hampton Place we would expect a turn over rate of 10% but have seen only about a 5% turn over rate for the last 5 years.

While the number of homes SOLD has been flat, the average sales price for Hampton Place homes has been steadily increasing. The average sales price in 2018 increased 6.4% from 2017 and is up an incredible 17.3% from 5 years ago. 

Another encouraging statistic is the average days to sell, in 2018 Hampton Place homes Sold in 15 days or less while taking 41 days in 2017 and 54 days five years ago. 

 

So what does 2019 have in store for Hampton Place?

We are expecting 2019 to be the year where the market starts to change. We have been in a sellers market for several years now due to increased demand and a severe lack of available homes. Rising interest rates has begun to slow demand as higher rates and the increased value of homes has pushed many buyers out of the market.

Our expectation is that the Spring market will still be strong but will lead into a slower market for the fall and that the balance will start to shift from strong sellers market to a more balanced market in the second half of the year. 

 

View all Homes Currently for Sale in Hampton Place: HamptonPlaceHomeListings.com 

 


Hampton Place Home Sales Report
2018 1 year change 5 year change
Homes Sold 25 23   27 
Average Sales Price $402,498 $376,996 ( + 6.4% ) $333,217 ( + 17.3% )
Highest Sales Price $462,000 $480,000 $473,500
Lowest Sales Price $315,000 $310,000 $241,000
Average Days to sell 15 41  54

 

See all available homes for sale in Johnson County Now at SearchJoCoHomes.com

 

Selling your Hampton Place Home in 2019?  Mike Russell & Associates can help, we are 14 year Hampton Place Residents with over 19 years of real estate experience. Mike Russell & Associates is consistently in the Top 5% of Johnson County Realtors, we have been awarded the Five Star Professional Award 8 years in a row.

 

Call us today at 913-523-6427 

 

Posted by

 

 Mike Russell is a REALTOR with Keller Williams Realty. Mike specializes in Johnson County Kansas Homes and Real Estate for sale. Mike is a tech savvy realtor with over 17 years experience. Did you enjoy Mike's Blog? Feel free to subscribe or join Mike on his Social Network to stay up to date on Overland Park, Olathe, Leawood, Lenexa, Shawnee and all of Johnson Counties real estate news and more...

Mike Russell & Associates can be reached at 913-266-5828 or MRussell@KW.com  or www.SearchjocoHomes.com

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Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good recap and great for buyers and sellers to see and hope it gets the phone to ring!

 

Jan 07, 2019 10:51 AM #1
Rainmaker
1,581,961
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for keeping us posted and up to date. Best of luck!

Jan 07, 2019 10:55 AM #2
Rainmaker
1,135,084
Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

I’m sure the buyers and sellers in your area appreciate your local market reports. Wishing you a very successful new year. 

Jan 08, 2019 03:27 PM #3
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Mike Russell

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