Weekly Real Estate Trends

90-day Market Stats for Single Family properties in
Jackson County, MO as of 08 Nov 2013
Median List Price: $147,750 Average List Price: $182,454
Total Inventory: 3,442 Price Per Square Foot: $78/SqFt
Average Home Size: 1,806 SqFt Median Lot Size: 29,302 SqFt
Average # Beds: 3.19 Average # Baths: 2.10
Homes Absorbed: 404 Newly Listed: 402
Days on Market: 73 days Average Age: 49 years
90-day Market Stats for Single Family properties in
Johnson County, KS as of 08 Nov 2013
Median List Price: $286,636 Average List Price: $369,557
Total Inventory: 2,048 Price Per Square Foot: $117/SqFt
Average Home Size: 2,576 SqFt Median Lot Size: 52,165 SqFt
Average # Beds: 3.76 Average # Baths: 2.85
Homes Absorbed: 272 Newly Listed: 274
Days on Market: 58 days Average Age: 28 years

 

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Weekly Economic Update

The National Association of REALTORS released their 2013 Profile of Home Buyers and Sellers today, showing first-time home buyers declining as a percentage of all buyers. They made up 38% of the market, down slightly from their historical average of about 40%.

Last week’s Fed meeting gave us some more “breathing room” before we can expect mortgage rates to rise significantly, although they did . Their official statement said they have “decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.”

Bottom Line for Mortgages
Mortgage rates did inch up at the end of last week, but they remain near 4-month lows. 

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Market Stats

Kansas City Metro 2013 2012 Difference
Number of Homes Sold 25,164 21,937 11%
Average Sales Price $182,483 $166,832 9%
       
Missouri 2013 2012 Difference
Number of Homes Sold 13,551 12,339 9%
Average Sales Price $150,400 $136,200 9%
       
Kansas 2013 2012 Difference
Number of Homes Sold 11,613 9,598 17%
Average Sales Price $222,800 $206,700 7%
       
September Stats 2013 2012 Difference
Total Active Listings 14,406 14,948 -4%
Average List Price $201,918 $164,363 19%
Days on Market 83 104 -25%
List Price to Sales Price Ratio 93.30% 96.30% -3%
Total Sales To Date 25,164 21,937 13%
Average Sales Price $157,220 $141,774 10%
Months of Inventory 5.2 6.1 -17%

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Economic Update

The National Association of REALTORS is reporting a 5.6% monthly drop in Pending Home Sales in September. The monthly decline in the Midwest was 8.3%. Rising home prices and the recent run-up in rates are seen as the main culprits in the housing slowdown.

Weaker-than-expected hiring from last month’s Non-Farm Payrolls report helped to push rates to 4-month lows last week.

Add to that any lingering effects from the government shutdown, and it’s highly likely the Federal Reserve will hold steady on their bond-buying program at their monthly meeting this week. 

This program, known as Quantitative Easing, involves purchasing $85 billion in treasury bonds a month, which is helping to keep mortgage rates low.

Bottom Line for Mortgages


Mortgage rates are are at 4-month lows as we start the week. It is an excellent time for your clients to 
get pre-qualified for mortgages at First Federal Bank!

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40 Effed Up Things about being 40

1.  Other than Teen Mom, I have no clue what’s on MTV

2.  When people say “middle-aged,” they might mean me.

3.  I can’t wear sequins or I’ll look like a cougar.

4.  I’m more likely to forget to have sex than to forget to floss.

5.  If I eat chocolate chip pancakes for breakfast, I’ve gained a size by dinnertime.

6.  Even if I finally get a full night’s sleep, I still look like I was up all night. But not up all night doing something cool.

7.  I’m probably never going to be a Solid Gold Dancer.

8.   Going out without makeup is seeming more and more like an aggressive act.

9.   The “me” in my head is like the foxy little sister of the “me” in the mirror.

10.   Any girl can look cute like Rachel on Friends in her 20s. Only Jen Aniston looks cute like Rachel on Friends in her 40s.

11.  If I strolled across a college campus, people would assume teacher, not student. (Upside: instant Ph.D!)

12.  I’m old enough to drink, vote, rent a car and be elected to the highest office in the land. All that’s left on my age bucket list is admission to the AARP. Thanks, I’ll wait.

13.  Most days, I choose comfort over style. I’m a traitor to my stilettos.

14.All the tanning I did in college is showing up now as brown blotches. Get a Sharpie and you could draw a cow on my chest.

15.  The Psychedelic Furs, Duran Duran and The Cure are now considered oldies.

16.  Everything I wore in high school has been appropriated ironically by hipsters.

17.  Only a fortysomething is old enough to remember the TV show Thirtysomething. More irony.

18.  Oooh, my back.

19.  Other than the Kardashians, I don’t recognize anyone in the tabloids. Who are these people and why are they famous?

20.  Ages 31-39 are a total blur. I’m scared I’ll blink and be 200.

21.  All of sudden my tight mini-skirts make me look like I’m trying too hard. Hey sluts, incoming at Goodwill!

22.  Uhhh, my back.

23. The Real Housewives and I are, like, the same age. Where’s my butler?

24.  It’s occurring to me that I might not ever visit every single beach on the planet, and I’m actually okay with that, which feels weird.

25.  When I flirt with the cable guy, I don’t get extra channels for free anymore.

26.  I still think 21-year-old guys are hot. And they’re like, “Mom?”

27.  Why didn’t I take naked pictures of myself when I was 30?

28.  I fantasize about taping up the sides of my face. Try it with your fingers — it takes 10 years off instantly.

30.  Cripes, my back.

31.  Touching my toes is not a guarantee.

32.  Forget 50 Shades of Grey – my nightstand is full of wrinkle cream and Bengay. The apothecary is open!

33.  I even have one of those days-of-the-week vitamin boxes.

34.  If I buy a turtle it might outlive me.

35.  The bad habits I still have are probably here to stay.

36.  I say things like, “What’s the name of that actor, you know, he was in that thing?”

37.  I get a hangover from looking at liquor.

38.  The next milestone birthday is 50.

39.  Did I mention my reading glasses?

40.  One word: “Ma’am.”

40 cupcake

90 Day Market Stats

Jackson County

Median List Price: $148,467 Average List Price: $184,849
Total Inventory: 3,406 Price Per Square Foot: $78/SqFt
Average Home Size: 1,835 SqFt Median Lot Size: 31,976 SqFt
Average # Beds: 3.20 Average # Baths: 2.14
Homes Absorbed: 406 Newly Listed: 413
Days on Market: 72 days Average Age: 49 years

 

Johnson County

Median List Price: $292,872 Average List Price: $379,146
Total Inventory: 2,021 Price Per Square Foot: $117/SqFt
Average Home Size: 2,619 SqFt Median Lot Size: 55,548 SqFt
Average # Beds: 3.77 Average # Baths: 2.91
Homes Absorbed: 282 Newly Listed: 285
Days on Market: 54 days Average Age: 28 years

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