Tuesday, July 15, 2008

Leawood KS Real Estate Market update July 15, 2008

Leawood KS Real Estate Market update July 15, 2008

Leawood, KS Real Estate Market Conditions

Leawood had 195 homes sell and close in the last 6 months, counting all homes and price ranges, including existing homes and new construction. There are 370 Single family homes listed for sale in Leawood.

Upper Bracket Homes in Leawood

Upper Bracket Homes in Leawood accounted for 58 of the recent six month sales, based upon most recent listing price. There are 194 homes listed for sales in the $500,000+ range, which means the market is still overcrowded in that range with a roughly 20 month supply of homes. Seller's should review their house's condition and curb appeal. If you have been on the market more than 30 days, talk with your agent about how the house could be presented better. If you don't need to sell, this may not be the ideal time to test the market.

Leawood Homes $200,000 and under

Leawood Homes $200,000 and under are very rare and are selling well, accounting for only 7 of the last 6 monts sales/closings. There are just 2 homes listed for sale at $200,000 or less price. Selling at an average pace of 1 home per month, there is just under a 2 month supply of homes in Leawood in this price range, a strong Seller advantage market price range.

Leawood Homes $200,000 to $500,000

Leawood Homes $200,000 to $500,000 are selling at a decent pace. There have been 130 homes sold in the last 6 months listed in this price range. There are 175 homes listed for sale in this price range. With an 8 months supply of homes, the market is slightly buyer advantaged.
Summary - if you have an upper bracket home, realize the market is soft in your price and adjust your plans accordingly. The lower priced homes are selling well, so as a buyer, you will want to adjust your plans to fit the reality of the market place. It will be the rare seller in the under $200,000 price range who is going to be willing to make many concessions, since the market is strong. If, however, you are interested in buying UP in the down market, now is the time to assess your personal situation. Interest rates are low, upper bracket inventory is high, some sellers are very motivated

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