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. Let’s dive into the latest figures and trends that have emerged over the past week.
Starting with the number of homes being listed, we’ve seen a modest increase of 5%, with 565 homes coming on the market this week. This indicates continued seller activity and a healthy level of inventory for buyers to explore.
On the pricing front, there has been a notable decrease in the average list value, down by 10% to $376,792. This adjustment in list prices may present an opportunity for buyers looking for more affordable options in the market.
In contrast, the average sold price has experienced a promising 4% increase, rising to $380,497. This suggests ongoing demand for homes and the potential for sellers to achieve favorable returns on their investments.
Great news for sellers is that the number of listings with price reductions has decreased by a significant 25% from last week. This suggests that sellers are strategically pricing their properties and finding success in attracting motivated buyers.
Furthermore, the number of homes going back on the market has seen an 11% decline, totaling 109 listings. This may indicate improved contract management and fewer instances of deals falling through.
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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