Kansas City Real Estate Thoughts...
Johnson County Kansas - Residential Absorbtion Rates Past Year's Stats Covering All Cities Located In Johnson County KS Price Range | Sold Homes
(past 12 months) | Absorption Rate
(ave. # sold per month) | Active Homes
(currently for sale) | Mo's of Supply
(to sell all active) | $0 to $100K | 265 | 22 | 74 | 3.4 | $100K to $150K | 1505 | 125 | 480 | 3.8 | $150K to $200K | 2624 | 219 | 874 | 4.0 | $200K to $250K | 1641 | 137 | 739 | 5.4 | $250K to $300K | 1077 | 90 | 531 | 5.9 | $300K to $350K | 666 | 56 | 350 | 6.3 | $350K to $400K | 525 | 44 | 312 | 7.1 | $400K to $450K | 329 | 27 | 219 | 8.1 | $450K to $500K | 241 | 20 | 189 | 9.5 | $500K to $600K | 281 | 23 | 285 | 12.4 | $600K to $700K | 150 | 13 | 160 | 12.3 | $700K & Up | 256 | 21 | 327 | 15.6 | |
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As you can see, the months of supply goes up as the price range gets higher. Taking the $250,000 to $300,000 price range for example, there are 90 homes being sold per month (on average over the past 12 months) and with the 531 homes currently on the market it would take about 6 months to sell all of these homes. Keep in mind that if the number of homes sold per month picks up then the months of supply will start to drop. Also keep in mind that the months of supply is based solely on past statistics and has nothing to do with new listings that come on the market in the coming days or months. It simply shows us how long it would take to sell the current homes on the market, using the absorption rates over the past year.
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