The City of Mission is located in northeastern Johnson County, Kansas - a suburban area of the Kansas City metropolitan area. This area of eastern Kansas ranks as one of the top growth areas in the State, and the country. The City lies adjacent to a major transportation corridor, Interstate 35, and is quite accessible to the entire metropolitan area. Mission boasts a population of slightly under 10,000, and covers an area of 2.75 miles - about 95% of which is developed.
In the last 90 days, as of June 15, Mission had 61 homes sold and closed. There are 22 homes available for sale. The recent average of just over 20 homes selling per month compared to current supply of only 22 homes for sale yields a ratio to take note of. This ratio of homes sold over time is called the absorption rate. If the absorption rate continues at the same pace as the last 90 days then it would take roughly one month to sell all of the homes for sale, assuming that all homes would sell, and that no additional homes came on the market.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 home 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.Higher than average demand for homes in Mission KS, due to location, affordability, easy highway access, proximity to downtown Kansas City as well as Southern Johnson County, Shawnee Mission Schools, and limited supply gives home sellers an advantage in negotiation of terms.