July Housing Statisics

By
Real Estate Agent with Keller Williams

July Housing Statistics

Average Sales Price

The average new home price this month ($302,676) is 2% higher than one year ago ($297,091). The largest increase of 18% occurred in Cass county. There were four other counties in the region that posted increases in average sales price for new homes this month compared to July 2007. The average existing home price ($161,508) is 8% lower than the same month one year ago ($175,003). Leavenworth county experienced an increase in average sales price for existing homes from the same month last year. The average price for a home in the region this month was $176,788, which is down 9% from the average sales price for combined new and existing homes from July 2007. There were two counties in the region that experienced an increase in the average sales price for new & existing combined from the same month last year.

Home Sales

New home sales this month of 320 represents a 40% decrease from one year ago when there were 529 new home sales in July. New home sales decreased 6% over the past month when there were 339 new home sales. Existing homes sales were up 3% from last month's sales of 2,372 compared to this month's sales of 2,434. Existing home sales this month were down 4% from one year ago when there were 2,544 sales. Combined home sales of existing and new homes was 2,754 for July, which is up 2% from the total of 2,711 sales from a month ago. The July 2008 combined total sales were down 10% from the July 2007 combined sales of 3,073.

Inventory

New Home inventory decreased this month with 3,766 homes in inventory compared to 3,910 new homes on the market last month. The good news is the new home inventory for the region is 24% lower than it was a year ago at this time when there were 4,937 new homes on the market. Resale inventory this month was down 1% with 15,907 compared to 16,138 a month ago. The existing resale inventory this month is 4% lower than it was a year ago when the resale inventory was 16,537. New & existing inventory combined was 19,673 this month compared to 20,048 last month representing a 2% decrease in the past month. One year ago the inventory was 21,474, which represents a 8% decrease in total inventory over the past year.

Kansas City Region Supply of Homes on the Market

Supply is determined by taking the "Inventory" and dividing it by the "Number of Sales." Generally speaking, a 5-6 month supply of homes on the market equates to a "balanced" market. When the supply exceeds 6 months, the market begins to favor buyers, and when the supply is less than 5 months the market tends to favor sellers. Supply in the Region has been steadily decreasing every month since January. Supply for combined new and existing homes decreased slightly from a 7.4 months supply last month to 7.1 months supply this month. The existing home supply also decreased from 6.8 months in June to 6.5 months in July; and the new homes supply showed a small increase over the past month from 11.5 months of supply in June to 11.8 months supply in July. Even though the supply had little change over the last month, we are still experiencing a slight buyer's edge in both the new home market and in the existing home market.

Source: Kansas City Regional Association of REALTORS® and Heartland Multiple Listing Service

©Copyright 2008. KCRAR is the "Voice for Real Estate in the Kansas City Area"

Comments (20)

Patricia Fisher
Keller Williams Realty - Spartanburg, SC

Welcome to the Active Rain Community!  This is a great site to network, learn, and share ideas with others.  Have a great day!

Sep 03, 2008 10:38 AM
Jese Gonzalez
The Real Estate Power Houses - El Paso, TX
The Real Estate Matchmaker

I would like to personally welcome you to the ActiveRain community!  This community has a wonderful atmosphere and you will find lots of helpful friendly people and useful information. I often find something new and interesting when I read the new blogs.   

Active Rain is an excellent networking forum with a variety of interesting characters.  Expect to learn a lot and be entertained if you have an open mind.  The opportunities to learn, earn and network are absolutely incredible here on Activerain.   

 Welcome to the RAIN I look forward to reading your blogs.

Sep 03, 2008 12:23 PM
Susan McQuaide
Keller Williams - Simpsonville, SC

Welcome to Active Rain! I hope you find this site as informational and entertaining as I have!

Sep 03, 2008 12:43 PM
SEAN THANH NGUYEN
Kellson Real Estate LLC - Kellson.com - Phoenix, AZ
Designated Broker - Vietnamese Broker

Hello Dee,

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Sean Nguyen

Sep 03, 2008 03:14 PM
Ron Brown NMLS #270845
NMLS ID: 40831 - Federal Way, WA

Dee,

Welcome to Active Rain! Congratulations on your first blog.  You'll find this is a great site for sharing ideas, networking, and growing your business.  If you ever have a question about VA loans, or FHA loans I'd be happy to help!

Ron Brown

VA Loan & FHA Loan Specialist

First Mortgage Company of Washington

Puyallup, WA

Sep 03, 2008 03:30 PM
Scott Magaw
The Bill Kennedy Team - Keller Williams Realty - Spartanburg, SC

Welcome to active rain! By joining our community, you have made a great choice, and a very profitable choice. This is a great site for learning as well as sharing. Check out some blogs, join some groups, and enjoy! -- Scott

Sep 03, 2008 03:53 PM
Jennifer O'Brien
Credit, Wealth & Success Coaching - Fair Oaks, CA

Hello Dee, Welcome to Activerain. Visit my blog to learn more about credit and personal finances. This is a great site for learning and sharing. --- Jen :)

Sep 03, 2008 04:08 PM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Dee,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!

-Keith

Sep 03, 2008 04:41 PM
Marcy Fedalei
Keller Williams Realty - Spartanburg, SC

May I be one of the many to welcome you to ActiveRain - a great place to share thoughts, ideas and information about real estate. Enjoy!

 

 

Sep 03, 2008 11:10 PM
Ron Martin
Keller Williams Realty - Spartanburg, SC
Ron Martin Team

Good morning & welcome to Active Rain, You have joined an excellent site to receive free marketing, absorb more information from others, share ideas.  Be a blogger and have fun. If you have any clients moving to the Greenville, Spartanburg, & Anderson South Carolina area we are your team. We are on all three MLS. Great blog!  Keep it up. Again Welcome!!

Sep 04, 2008 12:33 AM
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

 

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm

Sep 04, 2008 12:55 AM
Yvette Gardner
Keller Williams Realty, Spartanburg, SC - Spartanburg, SC

Welcome to the Active Rain community. You have chosen a great site with tons of information you can learn from.  Have fun with it and hope to see more of your blogs soon!

Sep 04, 2008 01:06 AM
Ginger Ryals
Prudential C Dan Joyner and Young Realtors - Spartanburg, SC

Welcome to Active Rain!! This is a great site to network and share ideas!! Have fun with it!!

Sep 04, 2008 01:26 AM
Kirk Westervelt
Van West Realty - Greenville, SC Realtor -Short Sale Expert! - Greenville, SC
Kirk Westervelt, Broker In Charge, Van West Realty - CDPE - Short Sale Agent - Home for Sale - Greenville, Simpsonvil...

Hello, welcome to Active Rain. I encourage you to learn from others, educate others, enjoy yourself and try to log in and join us in the Active Rain community as frequently as possible. I look forward to your future blogs! Take care, --Kirk.

Sep 04, 2008 02:01 AM
Lori Isaacson
Credit Restoration Consultants - Plantation, FL

Hi Dee,

On Behalf of Credit Restoration Consultants and the over 107,400 members of Active Rain I want to welcome you to the AR family. I hope you enjoy the experience. If you have any questions regarding credit, credit repair, or any credit related issues including  identity theft please feel free to call or e-mail me. Have fun and keep on blogging. It is a great way to let people get to know you.

Regards,

Lori Isaacson

Sep 04, 2008 02:15 AM
Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Welcome to Active Rain and congrats on your first post.  Be sure to spend some time looking around at what and how others are blogging here.  It is a great education and lots of fun.  Looks like you're off to a great start...keep it up!

Sep 04, 2008 05:08 AM
Nance Burdette
Keller Williams Realty Partners - Spartanburg, SC

Congratulations...and Welcome on signing as a new member of ActiveRain. Being a new member myself going on my fourth week and only posting a few blogs so far, I truly see the awsome advantage that this truly can be; (and it's fun) and only the beginning of a healthy and wealthy relationship of abundant professionals. Everyone has been so very kind. And so much to read!!! Hope to see your blogs in the future.   Best of Luck to all of us,  Nance

Sep 04, 2008 01:33 PM
Jean Terry
Keller Williams Realty Spartanburg, S.C. - Spartanburg, SC

Hi and welcome to Active Rain, a great site to network, share, and learn and have fun.

Good Luck

Sep 04, 2008 01:56 PM
Neal Barnes
Starstate Realty - Killeen, TX
Broker, REALTOR, ABR, CRS, GRI, SRES, SRS.

Hi Dee  - Welcome to ActiveRain. I look forward to networking with you and reading your future post. Have a great day!!!

Jan 23, 2009 03:47 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Welcome back to ActiveRain!

     I encourage you to take another look at the website.  Surf some blogs, leave some comments.  Better yet, post a Blog.

    Best to you!

Jul 15, 2015 12:06 PM