THE INDEXKC- KANSAS CITY KANSAS BONNER SPRINGS EDWARDSVILLE METRO MARKET UPDATE
Weekly KC Metro Market Update
The strength of the Wyandotte housing market is tested this week, as days on market for the three major cities in that county rise slightly. When we add the slightly declining sales value to list value relationship, the dramatic effect of rising mortgage interest rates jumps right up and says, ‘YIKES”!
Buyers, Wyandotte County delivers some of the most reasonable housing costs in the metro. If you were frustrated by the pace and prices this past spring and summer, now is the time to write your offer, negotiate fairly, purchase your home, and plan on your refinance in the spring when rates drop.
Sellers who were worried about where to go when they sell their home, this is a great time to make the market work in your favor. When rates drop in the spring, you’ll have more competition for your home….BUT you’ll pay more for your new home as well.
This is still a seller’s market (low inventory levels are will comtniue to be a factor), however, the lull in activity created by the rise in mortgage interest rates has changed the suppl/demand relationship in the very near term, creating a hugeb opportunity for buyers and sellers.
Nestled among the rolling hills on the edge of the Kansas River, Bonner Springs is one of the oldest cities in the state of Kansas. In 1812, the Chouteau family established the first European trading post in the state. This bustling trading post was called Four Houses, now the site of Bonner Springs. (bonnersprings.org)
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers!