Leawood, KS Real Estate Market Conditions October 4 2008

Leawood had 242 homes sell and close in the last 6 months, counting all homes and price ranges, including existing homes and new construction. There are 351 Single family homes listed for sale in Leawood giving a 8.7 month supply of homes based on the current rate of absorption.

Upper Bracket Homes in Leawood $500,000+

Upper Bracket Homes in Leawood accounted for 60 of the recent six month sales, based upon most recent listing price. There are 187 homes listed for sales in the $500,000+ range, which means the market is still overcrowded in that price range with a roughly 18.7  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 : Strong Seller Advantage

Leawood Homes $200,000 and under are very rare and are selling well, accounting for only 7 of the last 6 months sales/closings. There are just 2 homes listed for sale at $200,000 or less price. Selling at an average pace of  over 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 $350,000 : Balanced Market 5 months supply of homes. Selling at a pace of 0.52 homes per day. 94 sold in the last 6 months with a supply of 78. Relatively balanced with a slight edge to the seller. Houses with better than average condition and locations should be selling quickly and for a good price.

Leawood Homes $350,000 to $500,000 : Buyer Advantaged

Leawood Homes $350,000 to $500,000  There have been 83 homes sold in the last 6 months listed in this price range. There are 92 homes listed for sale in this price range. With a 6.7 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.