THE INDEXKC- JACKSON COUNTY MARKET UPDATE
The big story here is the ratio of the 177 List Price Reductions compared to 260 of Homes Listed. Inventory levels are rising and Sellers are recognizing the need to be more conservative and competitive with list values, resulting in price reductions.
Sellers; be realistic, the market is shifting. Demand a solid comprehensive overview of the market conditions prior to listing. Buyers; prepare for fewer competitors, and fewer multiple offer situations. Require your Buyer’s agent to follow up deliberately and consistently with listing agents, looking for opportunities.
Our friends at jacksoncounty.org tell us fun things to to do this week are….
Gain an understanding of the past through the science of Archaeology! Enjoy family friendly activities and crafts and try your hand at throwing an atlatl, a traditional weapon. Professionals will be on hand to help you identify any artifacts you may bring. Whether you want to splash about in the cool refreshing water or relax on the warm sandy beach, Longview Lake Beach is now open for summer fun. Enjoy such amenities as sand volleyball areas, showers, restrooms, picnic areas and certified lifeguards on duty.
Check out the number of price reductions and the watch the days on market continue to extend as the market shifts….The shift is driven by several factors; rising mortgage interest rates, falling numbers of new build permits, buyer pool exhaustion/contraction….and the wild card, inflation.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers!