THE INDEXKC- KANSAS CITY METRO MARKET UPDATE
Weekly KC Metro Market Update
Hello there! It’s time for your weekly market update for the Kansas City real estate market. Get ready for some exciting figures and trends that have emerged in the past week.
To start off, we’re seeing a significant surge in the number of homes being listed, up by a staggering 45% compared to last week. This influx of new listings indicates an increase in seller activity and a broader range of options for buyers to consider.
Accompanying the rise in listings, the list value has experienced a solid 5% increase, reaching $391,225. This suggests continued confidence in the market and potential appreciation in home values.
However, the average sold price has dipped slightly by 1%, settling at $368,694. This could be attributed to various factors such as market fluctuations or a shift in buyer preferences.
On the positive side, the number of listings with price reductions has decreased by 3% from last week. This indicates that sellers are becoming more strategic in their pricing strategies and finding success in attracting motivated buyers.
Interestingly, there has been an 11% increase in the number of homes going back on the market, with a total of 122 listings. This may be influenced by factors such as failed contracts or financing issues.
In terms of market velocity, the average number of days on the market has remained steady at 32 days. This suggests a relatively balanced market, where well-priced and well-marketed properties continue to attract buyers within a reasonable timeframe.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers! Click the button below and let’s get you the information you need to be successful!
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