Johnson County housing market cools

Johnson County’s housing market slowed considerably in November, as buyers pulled back with the approach of colder weather and the holiday season.

Reports released by the County Economic Research Institute showed a 6.1 percent decline in home sales in November, the latest data available. For the month, 644 new and previously owned homes were sold, compared with 686 in November 2013, the research group said.

Through the first 11 months of the year, home sales slightly lagged 2013’s total.

Two other housing indicators also turned cold during the month, a historically slow time for the area housing market along with December.

According to the research group, the average price of new and previously owned homes sold slipped to $274,100 in November. That was down 3.3 percent from the same month in 2013. The average new home sold for $416,300 in November while the average price for a previously owned home was $251,600.

Construction activity on single-family homes also fell as the weather turned. Countywide, 91 permits for single-family homes were issued in November, down 43.5 percent from the same month in 2013.

The one bright spot on the housing front came from building activity for apartments and other multi-family units. According to the research institute, 91 permits were issued in November for multi-family construction, up 203 percent from the 30 permits issued 12 months earlier.

This story was originally published February 3, 2015 at 1:00 AM with the headline "Johnson County housing market cools."