THE INDEXKC- JACKSON COUNTY MISSOURI MARKET UPDATE
Weekly KC Metro Market Update
Andrew and Chris had decided to stick tight and push their move into the future when they had trouble finding their dream home last June. They’d had trouble with the thought that they could MAYBE see the home before they wrote an offer….”This is crazy”, Chris mentioned to Andrew on a Sunday trip to their favorite brunch spot. They’d had their home on the market for a very short period of time; a crush of visitors combined with their inability to find their dream home coupled with that mad rush to view their home left them exhausted and discouraged.
As buyers, Andrew and Chris are seeing inventories grow, and are having no trouble finding multiple homes that might be a fit, then getting out with their Realtor and taking their time as they review favorites. Both are incredibly encouraged as they restarted their search last month. Yes mortgage rates have risen, Mortgage rates have risen, but they know rates will still rise further, so waiting for rates to drop isn’t in their plans. The high note is reduced competition, and their Realtor is reassuring them there will be room to negotiate after inspections.
Andrew undertsands the market has moved away from multiple offers….Chris mentions, “Our may sit a while longer, but the other side is that both buyer side and the seller side are tied to the same market factors.” Inventories are at near record lows, and that will drive buyer side expectations.
Days on market dropped right along with price reductions….List and sales values also reduced accordingly. Chris and Andrew are using those factors to their advantage as they write their first offer since June.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers! Click the button below and let’s get you the information you need to be successful!