THE INDEXKC- JOHNSON COUNTY MARKET UPDATE
Weekly Johnson County Market Update
Interesting ratio of homes listed last week, 125, compared to total homes with price reductions, 61! The real story is the confusion created by the numbers that appear (on the surface) to contradict each other….Average List Price of $487,472, with average sell value of $509,738….Keep in mind, we’re seeing prices increase far less, and those 61 homes with reduced list values are the wave of the future.
The shift in our industry is driven by several factors; rising mortgage interest rates, falling numbers of new build permits, buyer pool exhaustion/contraction….and the wild card, inflation. We’ll continue to see prices rise less as the year progresses.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers!