Joco 913

Johnson County housing market hits summer slump

Johnson County’s housing market softened somewhat in the middle of the summer as sales dipped and prices were flat.

Data from the County Economic Research Institute for July showed a 4.1 percent decline in total home sales compared with the same month in 2013.

There were 1,123 new and previously owned homes sold in the month, compared with 1,171 a year earlier. The vast majority of sales were previously owned homes, the research organization said.

Sales prices for previously owned homes averaged $261,000 in July, while new-home sale prices hit an average of $442,300, the organization said. When averaged together, the sales price of $276,200 was up 0.8 percent from July 2013.

Permits for residential home construction, which signals future building activity, also fell in July by about 22 percent to 137.

The overall value of construction activity in the county was $135.3 million in July, down 28 percent from the year-earlier results.

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

  Comments