All of them! Just kidding, kind of. With less than three months of inventory in our area, most homes are selling quickly. The average time on the market right now is hovering around 60 days. However, if a home is priced right and in good condition, it is selling within days. Most of our homes in the Prairie Village/Leawood area are selling in less than a week.
Even though the market at large is quite healthy, there are still several price ranges and floor plans that are remaining the most sought-after. Let me give you some examples. In Prairie Village right now the most popular price range for a home is $160,000- $180,000. South of 75th Street this price range represents over 20 percent of the market. That is a big number. I attribute the popularity of this price range to the cross section of residents who are moving up in size and price. As I have said before, there has never been a better market for a move-up. Not only are you selling a home with very little competition, you are also financing a home at historically low interest rates. Talk about a one-two punch!
The second most popular price range is $200,000- $250,000. Kinda makes sense doesn’t it? Where do you think the $160,000- $180,000 seller is moving? To a $200,000- $250,000 home. This price range represents about an average of 11 percent of the market. So where are the other 9 to 10 percent of the buyers moving? Out south and west seems to be the answer. Due to the low inventory in this price range, more buyers are considering a move a bit further out of the area.
Now that we have talked about price ranges, let’s talk about floor plans and other features that are highly sought-after in today’s market. Here is the hit list. If your home fits one or more of the following criteria, you might want to consider giving us a call. It could be the market that you have been waiting for!
Completely remodeled from stem to stern: The ROI on home improvements is quite high right now compared to the last several years AND a majority of today’s buyers are looking for an updated home
Completely original condition and very well cared for: I am referring to a home that is in great condition and just needs to be updated. As a Realtor, I applaud the homeowner who can maintain a home built in the 1940′s or 50′s and keep it in pristine condition. These homes offer a great benefit for those seeking a certain floor plan or location, and would like to personalize any updates.
A two-car garage home: Enough said. If most of your neighbors have a one car garage, and you have two, you might consider selling.
3+ bedrooms with 2+ baths: Again, this is a potential move-up home and is under high demand.
$300,000-$500,000 homes:This price range represents about 10 percent of the market. Please note that is a huge price range yet only represents 10 percent of the market. Therefore, inventory is this price range is pretty much non-existent. If you have a home in this range, now is your time!
Master suite on the main floor: This floor plan appeals to almost all buyers, especially the empty nester market.
Now, I will be so BOLD as to name a few subdivisions that I get calls about almost weekly: Indian Fields, Reinhardt Estates, Corinth Hills, West Riding, Kenilworth, and Prairie Village/Prairie Hills (right by the shops). If you live in one of these areas, we should talk. How would it be to get top dollar for your home and pretty much name your terms when it comes to closing/possession dates, inspection repairs, etc.? That’s what I thought you would say.