THE INDEXKC- KANSAS CITY METRO MARKET UPDATE
Weekly KC Metro Market Update
Welcome to your weekly market update for the Kansas City real estate market! Let’s dive into the latest figures and trends that have emerged over the past week.
Firstly, the number of homes being listed has decreased, with 539 homes coming on the market this week. This decrease may indicate a slight adjustment in seller activity, potentially creating a more balanced market for buyers to explore.
On the pricing front, we’ve seen a noteworthy 7% increase in the average list value, reaching $417,207. This upward trend suggests ongoing confidence in the market and potential appreciation in home values.
Conversely, the average sold price has experienced a slight dip of 1%, settling at $364,609. This change may be influenced by various factors such as buyer preferences or individual property characteristics.
Excitingly, the number of listings with price reductions has decreased by an additional 2% from last week. This indicates that sellers are becoming more strategic in their pricing strategies, potentially leading to more successful negotiations and sales.
The number of homes going back on the market has held steady at 122, indicating stability in terms of contract terminations or financing issues.
In terms of market velocity, the average number of days on the market has decreased by an impressive 15% to just 27 days. This indicates a highly active market where well-priced and well-presented properties are attracting buyers and moving swiftly.
As the market evolves, it’s crucial for both buyers and sellers to stay informed and work closely with experienced real estate agents who can provide valuable insights and personalized guidance. By leveraging their expertise, you can navigate the market effectively and make informed decisions based on the latest trends.
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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