Buyers Market in Platte County
Recently released statistics confirm what many area realtors have been saying for months – it’s a buyers market. Home sellers in Platte County should rest easy, however – Platte’s average resale price, though down from a year ago, is second only to Johnson County when looking at the region as a whole.
According to the Kansas City Regional Association of Realtors, there is an 11-month supply of homes when factoring the population of the area and the amount of homes on the market. Generally speaking, anytime there is more than a six-month supply of homes on the market, it is said to favor the buyer.
The report shows that the average price of a new home in Platte County costs $291,386 – second only to Johnson County’s $350,000 average. Platte County’s new home price average rose nine percent in the past year, however; Johnson County has declined one percent. Resale home prices declined six percent in Platte County, however, making the average resale cost of a home $158,701.