Leawood Real Estate News

This is the first real estate report for homes in Leawood. Basically, this area consists of zip codes 66206, 66209, and 66211.

At the end of January there were 172 homes for sale compared to 192 (down 10%) the previous year. Although more new listings are coming onto the market, the strong sales last fall greatly reduced the number of homes on the market.

Available homes ranged in price from $112,900 to $3.5 million. The average January sold price was $462,000 compared to $311,000 (+49%) in January, 2009. This does not necessarily mean homes appreciated that much, but there were more higher priced homes sold last month compared to January, 2009 driving the average price higher. Sales of homes priced over $400k were very slow last year and sales activity has recently improved. As more higher-priced home sell, the average prices will go up.

Price Range No. of January Homes Sold
$150,000 – 180,000 1
$180,000 – 230,000 1
$230,000 – 300,000 1
$300,000 – 400,000 3
$400,000 – 500,000 3
$500,000 – 999,999 3
Over $1,000,000 1

Remember, real estate is “local.” Prices in the Kansas City or even Johnson County area do not all go up or down the same. Just like some states were harder hit than ours, some of our suburbs and neighborhoods will improve faster than others. When looking for a home, you need to look at “Comparable Market Prices” for the neighborhood you are buying in, not necessarily the overall market.

The deadline to qualify for the “first-time home buyer’s credit” and the “repeat- buyers credit” is April 30.

Jim Krause
Reece and Nichols
913-575-0042
Email: jimkrause@reeceandnichols.com
For a video explanation of the Home Buyers Credit, click on “$$$$ Tax Credit Information” at this link:
www.jimkrause.reeceandnichols.com