THE INDEXKC- JOHNSON COUNTY KS MARKET UPDATE
The real estate market is still robust and advancing this week. Still outpacing most of the metro with higher than average sell values, price reduction rose this past week to almost 50% of pending sales figuers. The market continues to shift, and for prepared buyers, getting your contract offers accepted has become a bit easier. More offers are including seller paid closing costs, home warranties, etc. Most importantly, buyers are seeing fewer multiple offer scenarios, and when they do, we aren’t seeing prices grow as quickly as we had as recently as 6 months ago.
The experts at Wiki tells us….
Johnson County, Kansas is home to the headquarters of Garmin and AMC Theatres. Former Johnson County Courthouse in Olathe (2009). It opened in 1952, closed in 2020, then demolished in 2021 after new courthouse was finished.
Check out the number of price reductions and the watch the days on market continue to extend as the market shifts….The shift is driven by several factors; rising mortgage interest rates, falling numbers of new build permits, buyer pool exhaustion/contraction….and the wild card, inflation.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers!