Specifically the residential real estate market information for Leawood homes priced at $1,000,000 or more.
(I will include houses priced at 974K plus as well, since they are pretty close)
As of September 9th, 2015 in this price range, there are 41 Leawood homes for sale in the million dollar plus price range.
In the previous 6 months, in this price range, there have been 31 Leawood homes sold. The total number of homes sold divided by 6 months gives an average sales rate of 5.2 houses per month.
Dividing the number of homes for sale, 41, by the average number of homes sold per month, 5.2, yields the average number of months of supply of homes which is 7.9 .
When the average number of months supply of homes is between 5.5 and 6.5 the real estate market is said to be “balanced”. A balanced market is essentially a normal or average pace of sales and does not provide a built in negotiating factor, base upon a too much supply or too much demand.
As the number of months supply of homes gets lower than 5.5, generally the prices of homes increase because there is more demand than the average supply. Often the smaller the number of months supply the faster the prices increase.
Conversely, when the average number of months of supply is larger than 6.5 months based upon recent demand, then the market will start to see more price concessions or negotiation of terms.
Leawood neighborhoods with sales in the last 6 months or currently available homes for sale include
- Berkshire
- Charlemagne Manor
- GlenAbbey of Leawood
- Hallbrook
- Hazelwood
- Highlands Ranch
- Leawood neighborhood
- Leawood Estates
- Leawood Lanes
- Merry Lea Farms
- Leawood Hills
- Leawood Heritage
- Leawood Lanes
- Mission Farms
- Pavilions
- Reserve at Iron Horse
- Somerset Acres
- The Hills of Iron Horse
- Siena of Leawood
- Tomahawk Creek Estates
- The Woods Estates
- Tomahawk Creek Estates
- Tuscany Reserve
- Welcreek Estates