Merriam, Kansas is located in Johnson County, just 8 minutes south of downtown Kansas City, Missouri. Merriam is served by the Shawnee Mission School District which is rated in the top four percent in the nation. Merriam is home to many beautiful parks including popular Antioch Park, Johnson County Park & Recreation’s oldest park.
Merriam KS continues to be in a strong seller's market. The *extreme* lack of inventory is borderline incomprehensible. As of writing, February 13th, 2020, Merriam has a mere three homes for sale which are not already under contract. Three!! You could literally see every single home for sale in the city on a long lunch break. Current asking prices range from $42K to $250K with a median of about $184K.In the last 90 days, 24 homes have closed escrow to change ownership. Closing sale prices ranged from $155K to $352K. Median closing price was right at $215K.In general terms a market is considered balanced when the supply of homes equals 5.5 to 6.5 months of inventory compared to demand or absorption rate. The lower the month's supply of homes is, the seller tends to see an advantage in price or terms. The higher the months supply of homes the more advantage there is to the buyer in terms of price or terms. Merriam, however, is so hot right now, and the inventory levels are so low, that the absorption rate is measured in days versus months. With interest rates incredibly low, it it difficult to imagine a better time to put your home up for sale in Merriam KS.