THE INDEXKC- JACKSON COUNTY MISSOURI MARKET UPDATE
Weekly KC Metro Market Update
Last weeek’s sales velocity shows as only 16 days on market! Couple this with a=almost equal average list and average sales values and you can see the Jackson County market is screaming along, driven by stabilizing mortgage interest rates.
Buyers your signal to move forward lies in the 198 price reductions exceeding the 187 new listings. Simply put, sellers are “reading the room” and bringing their collective expectations in line with the market. Write your offers now, while there are fewer mutiple offers and get those offers accepted with less compettion.
Sellers, keep in mind that low inventory numbers will still deliver strong results, and take note: homes sales pending and sold continue to exceed homes listed. Let low inventory levels be your guidepost; get your home listed and sold.
Jackson County is located in the western portion of the U.S. state of Missouri. As of the 2020 census, the population was 717,204. The estimated population in 2021 is 719,511 making it the second-most populous county in the state (after St. Louis County). Although Independence retains its status as the original county seat, Kansas City, Missouri serves as a second county seat and the center of county government. The county was organized December 15, 1826, and named for President Andrew Jackson (elected 1828). Jackson County is the most populated county in the Kansas City metropolitan area. Total employment in 2019 was 344,993. (kids.kiddle.co)
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!