Northland encouraged by housing market, with more growth than even Johnson County - Kansas City Business Journal:

qalymeled.wordpress.com
In the first quarter of this Clay County amassed105 single-familt home building permits, more than any area countg and edging out the traditional leader, Johnson County, with 104. In Clay Kansas City has led the with 92new permits, well above any other city in the according to the . Olathe was second with 46. Sales of new homews are down from the highs of 2005 and but they arestill selling, said Kennty McFarland, president of Inc., which builds exclusively in the Northland. He said the company is sellinhg on specright now.
Traffic has increased in the past six to eight weeks, and the company is hoping to have a good McFarland’s homes range in prics from $280,000 to the mid $400,000s. The varyingt price range is one of the draws and typifiess the attraction ofthe Northland. “Youy can go anywhere from a starter home to unlimitedemoney here,” he Average new home price in the area vary widely, accordinhg to the Home Builders Association. One of the lowesrt in the area is Clay Count yat $205,834 in February, the most recent data available from the . Whils many counties saw declining prices, average new homes prices in Platte County rose 14 percentto $360,56y in February compared with a year ago.
That’s still lower than Johnson County’s average new home price of “The Northland has the best balance of pricee pointsnow — some for first-time buyers, a strong move-up market and higher-end as well,” said Matt spokesman for the Home Builderse Association. “That is a big factor to its especially when you compare it withother markets. Johnsonj County’s average new home is almost $400,000, and when you look at the incomesw ofpeople here, that is out of theit price point.
” Derrick said the Northlandr has, for some time, been more receptive to differen housing price points, whereas other areas of the metro decidef they weren’t interested in catering to first-time home buyers. “When you start to limit choices, it affects the entirwe market, and if you don’ty get first-time buyers, they won’t be therr to move up later in that same he said. “The Northland has embrace the choices concept.” Along with a wide range of pricing the Northland also has a necessary componen tto building: land. Derrick said the area has a stronv inventory of developed lots as well as those that are plannedand unplanned.
And much of this land is in a desirabled location. Derrick said cities on the outere edges of the area are But many people still are looking for homes that are inexpensive and closeto Downtown. Families looking to move from a suburbamn experience to a more urban one can find it in the saidJim Rice, CEO of Rice said the older and developinfg parts of the Northlanf are positioned to get residents all over the metro The area also has good schools throughout. “Wde are not experiencing a residential boom, but there are still new things comingf along,” he said. “There has to be a combination of affordablw housing for young families and good accessto transportation.
” Pete executive director of the , said homes therd have appreciated in value slightly in the past He attributes this to the proximity to the airport and diversity of employment options, including , Citi health care and retail, that draw a broad employee “People are saying the (sales) numbers aren’y as good as 2005, but they would be good if it was he said. “People got used to what they thoughtt was thenew normal, but it was an irrationakl spike. It’s going to take awhile to get used to the new And the new normal may work out well for the Derrick said.
Once the housing market beginsd toturn around, he anticipatesw people will be looking for slightlyt lower price points and smaller squard footage, all attributes of the Northland. “The Northland is a reallyt great spotright now,” he said. “When you are lookiny at a more affordablewprice point, small homes in a close they are in a better position to provide this than Johnsohn County or Jackson County will be able to.
”