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Clay County Real Estate Market Activity

What’s not showing on the chart? Absorption rate. In the Northland (Clay and Platte Counties) the absorption rate is running at a very level 6.4 months. We’ve seen some great inventory coming on and the sales have slowed down a little. Buyers are taking a bit more time with their decisions, as are sellers. This tug of war style of negotiating will likely continue if the absorption rate stays put.

Clay/Ray Counties
Clay/Ray County sales were down for the month by 2.5% from 2012. Units were at 312 versus 320 last year. Year to date, unit sales are up 5.4%, with 3,011 units this year versus 2,858 last year.
The average sales price for the month was up 10.6% from last year, with an average price of $170,876. Year to date, the average price is up 9.2%. The average price is $159,108, versus $145,680 last year.
New listings were up 42 units to 571 or 7.9% from last year’s 529 units. Inventory is down 3.2% from last year and is running at 1,997 units. Inventory is down 9 units from last month.

Platte County
Platte County sales were down for the month by 11.7% from 2012. Units were at 135 versus 153 last year. Year to date, unit sales are up 6.5%, with 1,312 units this year versus 1,232 last year.
The average sales price for the month was up 14.4% from last year, with an average price of $227,906. Year to date, the average price is up 8.7% from last year. The average price is $205,350 versus $188,894 last year.
New listings in Platte County were up 5 units to 223 or 2.3% from the 218 units last year. Inventory decreased 9.0% from last year and is running at 860 units. Inventory is down 20 units from last month.

Heartland
Adjusted Sales* for the entire Heartland area were at 2,720, up for the month by 7.1%, or 181 units. The average price was up 10.5%, and averaging $191,574. Year to date, sales were up 9.8% or 2,077 units for a total of 23,175 for 2013. The average price for the year is running at $182,336, up 9.5% from 2012’s average of $166,453.

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