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Johnson County housing, retail markets expand

Housing and shopping — two of the linchpins of Johnson County’s economy — showed continued strength in the latter part of the year, according to the latest monthly survey by the County Economic Research Institute.

The organization, in its December report, tabulated housing data for October. The retail sales numbers, which also present a rearview mirror analysis, covered September.

All of the housing measures monitored by the researchers — prices, sales and construction permits — showed gains in October compared with the same time a year ago.

▪ The average sales price on new and existing homes climbed to $271,100 in October, up 1.6 percent from October 2013. The average new home sold in October for $436,800, while the average price of an existing home sold for $248,000 during the month.

Year-to-date, home-sale prices continue to trend higher from the first 10 months of 2013, the research organization said.

▪ The total number of homes sold in the county climbed 0.7 percent in October to 841 from 835 in October 2013. For the first ten months of 2014, home sales are down 2.2 percent from the same time last year.

▪ Residential building permits climbed 4.6 percent in October to 160 from 153 in October 2013. Through 10 months, permits for single-family home construction were up about 1 percent to 1,410.

As for retail sales, the total through September was up 9.4 percent to $998.67 million, the research organization said.

Overland Park, Olathe, Lenexa, Leawood, Merriam, Mission and Shawnee all reported increases in retail sales from the same month a year earlier. Prairie Village, Roeland Park and Fairway were among the cities reporting a decline in sales activity.

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

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