Kansas City Real Estate Thoughts...
City of Lenexa KS Real Estate Update - 15 Day Market Glance: Lenexa Kansas Real Estate Market Stats
* The average price of the Newest Pending is the LIST price of the home when it went under contract - actual contract and/or sales price is unknown until post-closing reporting. Notes: All information contained herein is deemed reliable but not guaranteed. If there is a low sampling of homes in any particular category, an average can be easily skewed high or low by an unusually high or low sale during the past 15 day period. Depending on when the stats were run the stats may not be exactly 15 days.
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In the city of Lenexa there continues to be more homes coming on the market than homes going under contract (pending) or than homes selling (sold). This creates a further surplus of supply. Using the past 15 days as a basis for figuring absorption rate in Lenexa, there is just shy of 9 months of inventory on the market in Lenexa. Keep in mind that using a 15-day period around the holidays will almost surely make the absorption rate higher because less homes sell at this time of year. We'll keep checking back throughout the winter and spring to take a look at the supply and demand in Lenexa and calculate the absorption rates at that time.
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