Johnson County housing market rebounds in April

06/23/2014 7:01 PM

06/24/2014 12:34 PM

Johnson County’s housing market rebounded in April after stalling slightly at the end of the first quarter.

The latest monthly survey by the County Economic Research Institute showed gains in the three main housing indicators in April, compared with year-earlier results.

The average sales price of new and previously owned homes climbed to $271,300 in April, up 9.5 percent from April 2013, the report said. The average price for a new home was $420,400. Previously owned homes sold for an average of $253,700.

Home sales climbed 9.4 percent in April after dipping in March. The research group said 870 homes sold in the county at the beginning of the second quarter, up from 795 in April 2013. Through the first four months of 2014, 2,491 homes have been sold in the county, down 2.2 percent from 2,546 in the same period a year ago.

Building permits for single-family homes, which also declined in March, climbed 29.6 percent at the start of spring to 197 units, according to the report. Overall, the number of construction permits issued is down 36 units for the year compared with the first four months of 2013.

In other economic data, the county’s unemployment rate was 4 percent in April, compared with 4.4 percent overall in Kansas.

Total commercial building construction was off sharply in April at $18 million. That was down from $42.1 million in April 2013.

To reach Steve Rosen, call 816-234-4879 or send email to srosen@kcstar.com.

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