Cresson Home Values

Price per square foot in Cresson closed the quarter at roughly $177, essentially matching Johnson County's countywide benchmark near $175 — a notable convergence after last month's reading slipped into the mid-$160s, based on MLS data for 2026-09 closings in Cresson. The median sale price, near $333K, has also flipped ahead of the county's roughly $322K figure, a reversal from earlier this year when Cresson routinely trailed by tens of thousands. Yet the list-to-sale gap tells a different story: sellers here gave back close to eight cents on the dollar, more than double the shortfall county-wide, even as concessions appeared in just over half of closings, noticeably less often than across Johnson County as a whole.

The pipeline reinforces the same divergence: with roughly 91 homes active and just 5 in pending status, Cresson's absorption pace lags far behind Johnson County, where far more active listings are moving into contract relative to overall inventory. Months of supply near 11 remains well above the county's under-eight-month reading, and new listings continued arriving at a pace that outstripped what the thin pending pool could absorb. The gap has held for multiple months running, with no sign yet of pending activity catching up to the broader county's absorption rate.

Time to closing in Cresson held near four months again this quarter, marking a fourth consecutive reading above the trailing-year average — based on MLS data for 2026-08 closings in Cresson. The roughly two dozen closings behind that figure keep the sample modest, so the pattern reads as directional rather than definitive, but it lines up with other signs of a market still cooling: price per square foot slipped into the mid-$160s, below the annual figure, sellers accepted close to nine cents under asking on average, and concessions grew more common than earlier readings, with the typical give-back now topping nine thousand dollars.

The forward pipeline in Cresson points to slower velocity ahead rather than a turnaround: pending contracts have thinned to just a handful this quarter, a steep drop from what the trailing-year pace implies, even as active listings held flat near the hundred mark. New listings also arrived at a slightly lighter clip than the annual average, keeping supply elevated at roughly a year's worth of inventory — well above Johnson County's under-eight-month benchmark. With so few homes moving into pending status, the extended closing timelines in recent sales look likely to persist into the next reporting period.

While Johnson County's closed sales settled in a little under two months this spring, homes in Cresson took closer to four months to reach the closing table — based on MLS data for 2026-07 closings in Cresson, a gap that has widened rather than narrowed. Price per square foot came in roughly a quarter below the county's benchmark rate, and the median sale price trailed the county figure by nearly $50,000. Sellers here also gave back more ground at the table, settling for roughly eleven cents less on the dollar than asking versus a far smaller discount countywide, while average concession amounts extended a climb now stretching across multiple months.

On the pipeline side, Cresson's supply cushion — a little over ten months at the current pace — runs well past the county's roughly seven-month benchmark, a divergence that's persisted rather than closed. Active listings held flat against last quarter's total, while pending contracts sit at a fraction of that pool, mirroring the same absorption imbalance seen countywide but at a noticeably slower clip locally. New listings continued entering at a pace roughly matching the ratio seen across Johnson County, suggesting Cresson's slower absorption is a matter of degree rather than an entirely separate dynamic.