Kansas City Real Estate Thoughts...
City of Shawnee KS Real Estate Update - 15 Day Market Glance: Shawnee 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 Shawnee Kansas there continues to be more homes coming on the market than homes going under contract (pending) and/or closed (sold). This creates a further surplus of supply. Using this 15-day period as a basis for figuring the absorption rate in Shawnee KS, there's just over 21 months of inventory on the market in Shawnee. 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 see how the sales rate is doing. If sales pick up and/or the number of new listings hitting the market steadies significantly, this absorption rate figure will improve.
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