Inventory 
New Home inventory decreased slightly this month with 4,124 homes in inventory compared to 4,319 new homes on the market last month. The good news is the new home inventory for the region is 20% lower than it was a year ago at this time when there were 5,153 new homes on the market. Resale inventory increased by 2% to 16,075 this month compared to 15,810 a month ago. The existing resale inventory this month is only 1% higher than it was a year ago when the resale inventory was 15,883. New & existing inventory combined was 20,194 this month compared to 20,130 last month representing virtually no change in the past month. One year ago the inventory was 21,020, which represents a 4% decrease in total inventory over the past year.
 
Home Sales
New home sales this month of 351 represents a 40% decrease from one year ago when there were 586 new home sales in May. However, new home sales increased 1% over the past month when there were 347 new home sales. Existing homes sales were up 15% from last month’s sales of 2,137 compared to this month’s sales of 2,448. Existing home sales this month were down 11% from one year ago when there were 2,757 sales. Combined home sales of existing and new homes was 2,799 for May, which is up 13% from the total of 2,484 sales from a month ago. The May 2008 combined total sales were down 16% from the May 2007 combined sales of 3,344.
 
Average Sales Price
The average new home price this month ($290,372) is almost the same month one year ago ($290,449). The largest increase of 8% occurred in Cass county. There were two other counties in the region that posted increases in average sales price for new homes this month compared to May 2007. The average existing home price ($156,085) is 5% lower than the same month one year ago ($164,674). Cass and Platte counties 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 $172,106, which is down 7% from the average sales price for combined new and existing homes from May 2007. There were three counties in the region that experienced an increase in the average sales price for new & existing combined from the same month last 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 from an 8.1 months supply last month to 7.2 months supply this month. The existing home supply also decreased from 7.4 months in April to 6.6 months in May; and the new homes supply decreased over the past month from 12.4 months of supply in April to 11.7 months supply in May. Even though there were small decreases, we are still experiencing a 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”

If you’re looking for something to do on a Saturday morning you really should take a minute to visit the Olathe Farmer’s Market.  Besides having some very friendly people there are fresh produce booths, jewelry booths, local honey and jams, fresh baked breads, plants and flowers, soaps and so much more.

My favorite vendor? Great Cakes Soapworks. Amy’s soaps don’t just smell delicious they are very pretty to look at. I’ve tried her cake soap in the “Celebration” scent and it is wonderful. She has great lip-balms and also the very best Bug Off products. Stop by her booth and check out some of her great products and then browse all the other fabulous booths.

Excuse me as the posting will definately be lighter during the summer. I have to enjoy every spare minute I get with my kiddos!

Inventory 
New Home inventory decreased slightly this month with 4,319 homes in inventory compared to 4,378 new homes on the market last month. The good news is the new home inventory for the region is 18% lower than it was a year ago at this time when there were 5,292 new homes on the market. Resale inventory increased by 4% to 15,810 this month compared to 15,157 a month ago. The existing resale inventory this month is 4% higher than it was a year ago when the resale inventory was 15,168. New & existing inventory combined was 20,130 this month compared to 19,536 last month representing a 3% increase in the past month. One year ago the inventory was 20,462, which represents a 2% decrease in total inventory over the past year.
 
Home Sales
New home sales this month of 347 represents a 32% decrease from one year ago when there were 511 new home sales in April. However, new home sales increased 1% over the past month when there were 342 new home sales. Existing homes sales were up 11% from last month’s sales of 1,924 compared to this month’s sales of 2,137. Existing home sales this month were down 7% from one year ago when there were 2,293 sales. Combined home sales of existing and new homes was 2,484 for April, which is up 10% from the total of 2,266 sales from a month ago. The April 2008 combined total sales were down 11% from the April 2007 combined sales of 2,804.
 
Average Sales Price
The average new home price this month ($299,619) is 6% higher than this same month one year ago ($282,990). The largest increase of 24% 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 April 2007. The average existing home price ($144,474) is 8% lower than the same month one year ago ($156,837). Only Clay/Ray and Leavenworth counties experienced an increase in average sales price for existing homes from the same month last year. The combined (new and existing) average price for a home in the region this month was $164,851, which is also down 8% from the average sales price for combined new and existing homes from April 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.

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 for combined new and existing homes decreased slightly from an 8.6 months supply last month to 8.1 months supply this month. The existing home supply also decreased from 7.9 months in March to 7.4 months in April; and the new homes supply decreased over the past month from 12.8 months of supply in March to 12.4 months supply in April. Even though there were small decreases, we are still experiencing a 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”

I am a big advocate for supporting local businesses. Kansas City if definitely an enterprising city and we have local businesses that span from “mom and pop” shops to multi-million companies, such as Garmin, Cerner, Sprint Nextel, and beyond. I love, love, love promoting these companies and giving them my support.

 I remember many years ago receiving telemarketers calls requesting to switch our telephone service from Sprint and my standard response was, “I am sticking with Sprint. They are a local company that give back much to my community and I plan to stay with them and support them.”  Unfortunately, these past 5-7 years I haven’t felt that way. I’ve posted previously about my frustration with them in the past.

This past year I’ve been able to get to know a lady who works for Sprint, via my child’s school. She works at the main campus in their finance department. She is very passionate about Sprint and at every social event I’ve attended with her she has in one way or another tried to promote Sprint and encourage others to support Sprint as well.  When we first met I shared with her my frustrations about Sprint and my lack of trust for them and it has been an ongoing conversation with her. She has mentioned the improved coverage and billing along with the improved customer service.

Last month I was nearing the end of a contract with another carrier and began to consider giving Sprint another try. Like I said, I really do want to support a local company, however would it be worth it? So, again, I spoke with my friend regarding Sprint and possibly giving them another shot. She offered to set up an appointment for me on the main campus store and to be there with me while I shopped for a new phone and switched services. I agreed.

Last week was my first encounter with Sprint since my fall-out with them many years ago. I arrived at the store with my friend and was greeted by a friendly retail consultant. He talked me through the various phones and features along with giving me details regarding the service plan I was interested in. Once I decided on the phone, he was able to set it up, port the number and transfer my contacts all within minutes. I walked out the store with my phone in hand and was able to make a call immediately. I very impressed with the level of service given at the store. It was a great “first” impression.

I’ll be honest, I haven’t had any coverage issues like I had in the past. I’ve not experienced dropped calls and I’m very much enjoying my new phone. I’m stilling waiting for my first bill to arrive and am hoping that my billing issues will be one of the past and that all will go smoothly. However, if there is an issue I am hopeful it will be resolved quickly and smoothly due to this article I read over the weekend.

The article in the Kansas City Star shares how Bob Johnson, Sprint’s chief service officer, is working to improve customer services experiences. I do hope that Sprint is able to turn around and that it isn’t too late.

I’m rooting for Sprint, I really am.

I’m alive. Really, I am.

These past few weeks have been incredibly busy and as much as I wish I could post some fabulous home improvement tip or a wonderful tidbit of local history I just haven’t been able to.

I’ll be back.

Inventory
New Home inventory decreased slightly this month with 4,378 homes in inventory compared to 4,435 new homes on the market last month. The good news is the new home inventory for the region is 17% lower than it was a year ago at this time when there were 5,262 new homes on the market. Resale inventory increased by 3% to 15,157 this month compared to 14,659 a month ago. The existing resale inventory this month is 5% higher than it was a year ago when the resale inventory was 14,486. New & existing inventory combined was 19,536 this month compared to 19,095 last month representing a 2% increase in the past month. One year ago the inventory was 19,754, which represents a 1% decrease in total inventory over the past year.
Home Sales
New home sales this month of 342 represents a decrease of 30% from one year ago when there were 486 new home sales in March. New home sales increased 23% over the past month when there were 277 new home sales. Existing homes sales were up 11% from last month’s sales of 1,730 compared to this month’s sales of 1,924. Existing home sales this month were down 13% from one year ago when there were 2,224 sales. Combined home sales of existing and new homes was 2,266 for March, which is up 13% from the total of 2,007 sales from a month ago. The March 2008 combined total sales were down 16% from the March 2007 combined sales of 2,710.
Average Sales Price
The average new home price this month ($310,032) is 6% higher than this same month one year ago ($292,945). The average existing home price ($144,910) is 3% lower than the same month one year ago ($149,589). The average price for a home in the region this month was $168,384, which is down 3% from the average sales price for combined new and existing homes from this same month last year. There were five counties in the region that posted increases in average sales price for new homes from the same month one year ago. The biggest increase in average sales price over the past year for a new home was 29% for Jackson county, followed by Platte county at 23%. Other increases were Miami (9%) Clay/Platte (3%) and Leavenworth (less than1%) counties. Decreases in the average price of a new home from the past year occurred in Cass (-9%), and Johnson and Wyandotte (-4%) counties. This month, only two counties experienced an increase in average sales price for existing homes over the past year. These increases occurred in Platte (4%) and Johnson (2%) county. Decreases in average sales price for existing homes over the past month occurred in Cass (-17%), Wyandotte (-17%), Jackson (-9%), Clay/Ray (-4), Miami (-2%), and Leavenworth (less than 1%) counties. There were two counties in the region that experienced an increase in the average sales price for new & existing combined. These occurred in Platte (8%) and Miami (3%) counties. The largest decease occurred in Cass (-21 %), followed by Wyandotte (-18%), Jackson (-7%), Clay/Ray (-5%), and Johnson and Leavenworth (less than-1%) counties.
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 for combined new and existing homes decreased from a 9.5 month supply last month to 8.6 months supply this month. The existing home supply also decreased from 8.5 months in February to 7.9 months in March; and the new homes supply decreased over the past month from 16 months of supply in February to 12.8 months supply in March. Even though there were decreases we are still experiencing a 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 2007. KCRAR is the “Voice for Real Estate in the Kansas City Area”

This has been an extremely long winter and I am so thrilled to have spring here. It has been lovely to be able to get outside and work on the yard while the kids run around.

An important item on my Spring Cleaning List is to call my HVAC guy and have him service my air conditioner. If you need a qualified expert give me a call, I’ll be glad to share his name…he’s great. However, if you’re a do-it-yourself-er here are a couple of tasks to help get your AC into shape and ready for the hot summer months.

1.  Clean the water drain.

2. Replace or wash your filters.

3. Clean the outside of the unit. (I just take my hose and spray if off.)

4. Check air distribution registers.

These few steps will keep your AC running smoothly and more efficiently.

For more information on Air Conditioning Maintenance check out Home Wizard.

I thought it might be fun to start a new series highlighting the various cities and towns in Johnson County. I’ve chosen to begin with Olathe because, well, it’s where I live! For obvious reasons, I’m partial to this city.

Olathe (pronounced Oh-LAY’-tha) is the county seat of Johnson Countyand is one of the fastest growing cities in the nation. Olathe was founded in 1857 by Dr. John T. Barton, a physician assigned to the Shawnee tribal headquarters.

The city’s current population is 122,000 and is the fourth largest city in Kansas. With over 43 neighborhood and community parks there is always a spot to run and play for the kids. And when the kids aren’t playing they are attending some of our nation’s finest schools within the Olathe School Disctrict. Olathe schools are ranked favorably in the greatschools website and Expansion Management magazine 2006 MSA Education Quotient ranked Kansas City metropolitan public schools 6th in Top Large Metros.

Fun Fact: City Resident’s Median Age is 30!

Inventory
New Home inventory decreased this past month with 4,435 homes in inventory compared to 4,601 new homes on the market last month. The good news is the new home inventory for the region is 18% lower than it was a year ago at this time when there were 5,398 new homes on the market. Resale inventory increased by 4% to 14,659 this month compared to 14,129 a month ago. The existing resale inventory this month is still 10% higher than it was a year ago when the resale inventory was 13,320. New & existing inventory combined was 19,095 this month compared to 18,731 last month representing a 2% increase in the past month. One year ago, the inventory was 18,718, which represents an overall increase in total inventory of 2% over the past year.
Home Sales
New home sales this month of 277 represents a decrease of 24% from one year ago when there were 364 new home sales in February. New home sales increased 26% over the past month when there were 220 new home sales. Existing homes sales were up 25% from last month’s sales of 1,379 compared to this month’s sales of 1,730. Existing home sales this month were down 1% from one year ago when there were 1,749 sales. Combined home sales of existing and new homes was 2,007 for February, which is up 26% from the total of 1,599 sales from a month ago. The February 2008 combined total sales were down 5% from the February 2007 combined sales of 2,113.
Average Sales Price
The average new home price this month ($292,097) is 2% higher than this same month one year ago ($285,184). The average existing home price ($141,023) is slightly lower than the same month one year ago ($148,694). The average price for a home in the region this month was $160,577, which is down 6% from the average sales price for combined new and existing homes from this same month last year. There were five counties in the region that posted increases in average sales price for new homes from the same month one year ago. The biggest increase in average sales price over the past year for a new home was 17% for Cass county, followed by Leavenworth county at 16%. Other increases were Johnson (11%) and Miami and Platte (less than1%) counties. Decreases in the average price of a new home from the past year occurred in Clay/Ray (-9%), Jackson (-6%) and Wyandotte (-2%) counties. This month, only one county experienced an increase in average sales price for existing homes over the past year. This increase occurred in Jackson (1%) county. Decreases in average sales price for existing homes over the past month occurred in Leavenworth (-25%), Platte (-17%), Wyandotte (-11%), Johnson (-5), Miami (-3%), Cass (-1%) and Clay/Ray (less than 1%) counties. There were no counties in the region that experienced an increase in the average sales price for new & existing combined. The largest decease occurred in Leavenworth (-17 %), followed by Platte (-15%), Clay/Ray (-8%), Wyandotte (-6%), Johnson (-3%), Miami (-3%), Jackson (-2%) and Cass (-1%) counties.
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 for combined new and existing homes decreased from a 11.7 month supply last month to 9.5 months supply this month. The existing home supply also decreased from 10.2 months in January to 8.5 months in February; and the new homes supply decreased over the past month from 20.9 months of supply in January to 16 months supply in February. Even though there were decreases we are still experiencing a 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 2007. KCRAR is the “Voice for Real Estate in the Kansas City Area”