Kansas City Real Estate Brookside Area Market Report 9.11.2011-Armour Hills

The cute little bungalow on Morningside sold over the weekend.

Looking at the Brookside area subdivisions from 1/1/2011 through 9/11/2011:

ARMOUR HILLS

31Active Listings NOW

0 Contingent

4 Pending

3 Back Up

39 SOLD so far this year at an Average Price of $211,356.

Market Report from last year

The top graph shows the days on market by month in 2011.

The second graph shows the sales price of homes sold in Armour Hills over the last 10 years.

Although we are still in a buyer's market, the price went up slightly and the days on market have decreased. Sellers will like this; buyers will regret they didn't move faster when the pendulum swings.

When will it flip back to a Seller's Market? Nobody knows. The pundits are saying 'next year' but they've been saying that for 3 years.

Here's what we know:

1. Many people do not feel secure in their jobs.

2. Many people have no, or inadequate, health insurance.

3. The Census Bureau predicts that Kansas City will have a housing shortage by the year 2028.

What does this mean?

Well, as long as people are unsure of income and unable to obtain adequate health care coverage, they will be hesitant to make large purchases. A house is a large purchase. The 'real estate market' is not like the stock market. People live in homes.

Everybody's gotta' live somewhere. Most of us want a house, condo or apartment to live in rather than under a bridge. Those who are able to do so will buy what they can afford. I'm seeing couples buy on one person's salary. They are playing it safe. If one person loses their job, they can still make their mortgage payment from the other one's paycheck.

Can you sell your house now? Sure. Can you sell your house for as much as you could have sold it for in 2006? Probably not. Can you get a bigger house at a really good price? Oh yeah.

If you want to sell your house, call to request a complimentary professional analysis and opniion.

..... Kansas City Neighborhoods .....

For your convenience, the QR Code to the left can be scanned with your smart phone so you can capture my contact information.

Realtor Maria Morton -816-560-3758

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...*Information obtained from Heartland MLS is deemed reliable but not guaranteed. **This is an eclectic blog combining a little business with pleasure; please consult a licensed professional before making life altering decisions. Maria Morton, Realtor©, SRES is a Kansas City Real Estate Agent licensed in MO & KS and affiliated with Prudential Kansas City Realty 816.410.5499.o Opinions expressed are not necessarily endorsed by anyone other than Maria Morton Copyright © 2011 *Martini Corner Real Estate in Kansas City*