Located just outside the Kansas City metro area, Johnson County is one of the top 20 counties in per capita income nationwide. Travis Jones of Rush Properties explains current housing trends in this Midwestern jewel.
According to Travis Jones of Rush Properties, Johnson County, Kan., is notable for having three of the top 100 best cities to live in according to Money Magazine. Today, the county is still considered one of the best places to live in the United States and is currently enjoying remarkable market conditions for both buyers and sellers, says Travis Jones, Rush Properties founder.
Understanding the market
Travis Jones of Rush Properties explains that the market can be a confusing concept for many people. There are numbers and statistics that don’t seem to make sense. Travis Jones of Rush Properties explains that it isn’t that difficult when you break it down into layman terms. Using Johnson County as an example, Travis Jones of Rush Properties sites April 2013 statistics.
- Median versus average list price was $283,425 in Johnson County, which means that exactly half of the homes listed were above that price point.
- Average list price, which Travis Jones of Rush Properties reports was $368,059, is the average price of all homes on the market.
- DOM is an acronym for Days on Market. Travis Jones of Rush Properties clarifies that the average DOM for Johnson County was 77 days.
- Price per square foot was $115. Price per square foot is calculated according to heated and cooled space in the home, explains Travis Jones, Rush Properties founder.
- MAI stands for Market Action Index. According to Travis Jones of Rush Properties, the MAI measures the amount of inventory versus the number of buyers. In Johnson County during April, the MAI was just under 40. Travis Jones, Rush Properties founder, explains that this indicates a seller’s market.
A strong market
Travis Jones of Rush Properties reports that Johnson County is an extremely stable market. With the number of sold homes and the number of listed homes virtually balancing themselves out, Travis Jones of Rush Properties notes that there are very few homes available at any given time.
Much like the rest of the U.S., Johnson County did suffer during the economic downturn of the mid-2000s. However, as Travis Jones of Rush Properties reports, the market has seen a steady recovery over the last few years. Johnson County is known for having an excellent school system and for offering a remarkable quality of life, which Travis Jones of Rush Properties explains has helped keep market value fair even during the worst of the recession.
Travis Jones of Rush Properties notes that there are many reasons that buyers and sellers alike should be confident in the Johnson County real estate market. With its close proximity to Kansas City, noteworthy landscapes, access to major highways, and reasonable property taxes, Travis Jones of Rush Properties insists that the county and its cities are positioned to remain the best places to live for many years to come.
Low interest rates
Despite being a sellers’ market, Travis Jones of Rush Properties reports that low interest rates also offer an advantage for buyers. Rates have hovered around 3.25 percent with even lower rates for shorter-term loans.
About Travis Jones and Rush Properties
Travis Jones of Rush Properties has been buying and selling homes in and around Johnson County for the last 15 years. Rush Properties works with Homeowner in foreclosure, offering alternative options.