THE INDEXKC- JOHNSON COUNTY KANSAS MARKET UPDATE
Weekly KC Metro Market Update
Price reductions (130) are almost equal to the number of new listings (163) brought to market over the past week. Days on market are increasing, though more slowly than sveral others metro counties.
Buyers, as rates have dropped, it’s time to step in and take advantage of sellers’ price reductions; get your offers in on your dream home while timid buyers sit on the sidelines.
Sellers come to market with your best foot forward, move away from the strategy of starting high and hoping for multiple offers. For most of the metro, the smarter strategy is a more conservative initial list value, which will likely get you your best offer faster.
Wikipedia tell us….The county is home to the headquarters of Garmin and AMC Theatres. Former Johnson County Courthouse in Olathe (2009). It opened in 1952, closed in 2020, then demolished in 2021 after new courthouse was finished.
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!