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Real Estate Market Activity, November

Last month, we had some negative news to go along with some positive. To start off, you’ll see that sales went down throughout the entire region, though Clay County fared better than others. So, we are seeing a bit of a holiday slowdown. The positive news is that sales prices continue to climb while inventory has remained low. This has kept Clay County’s absorption rate at 5.38 months—giving the advantage to sellers. So, if you’re looking to list and sell quickly, I would take some time, enjoy the holidays, and start talking to a REALTOR in early January, before we see an influx of homes coming on the market for spring.

Clay/Ray Counties
Clay/Ray County sales were down for the month by 17.1% from 2012. Units were at 214 versus 258 last year. Year to date, unit sales are up 5.9%, with 3,901 units this year versus 3,685 last year.
The average sales price for the month was up 13.9% from last year, with an average price of $162,850. Year to date, the average price is up 9.2%. The average price is $159,452, versus $146,009 last year.
New listings were down 38 units to 336 or 10.2% from last year’s 374 units. Inventory is down 3.3% from last year and is running at 1,802 units. Inventory is down 62 units from last month.

Platte County
Platte County sales were down for the month by 40.3% from 2012. Units were at 74 versus 124 last year. Year to date, unit sales are up 3.2%, with 1,666 units this year versus 1,614 last year.
The average sales price for the month was up 13.5% from last year, with an average price of $213,078. Year to date, the average price is up 6.6% from last year. The average price is $203,655 versus $191,094 last year.
New listings in Platte County were up 7 units to 160 or 4.6% from the 153 units last year. Inventory decreased 2.6% from last year and is running at 798 units. Inventory is down 38 units from last month.

Heartland
Sales for the entire Heartland area were at 1,828, down for the month by 8.9%, or 179 units. The average price was up 9.1%, and averaging $187,830. Year to date, sales were up 7.4% or 2,051 units for a total of 29,761 for 2013. The average price for the year is running at $183,013, up 9.3% from 2012’s average of $167,475.

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