THE INDEXKC- KANSAS CITY INDEPENDENCE LEE’S SUMMIT MARKET UPDATE
Weekly KC Metro Market Update
Buyers, keep an eye on your school district options to direct your search for best opportunity for appreciation and equity growth; do not simply opt for low home prices to guide your search.
Sellers, require your agent to fill you in on the trending line of price reductions in your city and subdivision….That will be the key to understanding the relationship between listing volume and inventory levels. For most parts of Jackson County, it’s time to get your home on the market while inventory levels are still low.
Independence is known as the “Queen City of the Trails” because it was a point of departure for the California, Oregon, and Santa Fe Trails. It is the hometown of U.S. President Harry S. Truman, with the Truman Presidential Library and Museum, and the gravesites of Truman and First Lady Bess Truman. (wikipedia)
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!