Today's short entry is a comparison of sales for Jackson and Johnson Counties, in the Kansas CIty metropolitan area, for the first nine months of the year compared to preceeding years.

Johnson County, KS

Although overall  inventory is up over 36% from 2002-2008, home prices are up 17.3% over the past 7 years.  2008 is the first year Johnson County has seen a decrease in the average sales price --and by just 2.5%. This reflects higher inventory due to slower sales...but overall, average pricing for the county has not seen drastic reductions when you look at the past several years. 

Jackson County, MO

Inventory in Jackson County is up just over 90% from 2002.  Sales prices have dropped 8.3% from last year, 4.3% average since 2003.   Jackson County is experiencing a high number of foreclosures, which accounts for a higher depreciation in pricing and more inventory. Year to date, Jackson County's average home price has dropped 10%.

Commentary

Johnson County sales stay strong due to the excellent public school system, new shopping and amenities for homeowners, and good local city government services.  Jackson County numbers suffer from the reputation of the Kansas CIty school district, mismanaged City Hall spending (Kansas CIty) and lower priced homes in struggling neighborhoods.  With a fresh new President, the mood will change and housing activity will pick up in the first quarter of 2009 on both sides of the state line. 

Comments are welcome.  If you would like sales statistics for your neighborhood, email me.

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