THE INDEXKC- KANSAS CITY METRO MARKET UPDATE
Weekly KC Metro Market Update
Welcome to our weekly market update! Let’s dive into the latest figures and trends that have emerged in the past week.
Starting with the number of homes being listed, we’ve observed a slight decrease of 7%, with 628 homes coming on the market this week. While this may indicate a temporary adjustment in seller activity, there’s still a decent supply of homes available for buyers to explore.
On the pricing front, the average list value has experienced a noteworthy increase of 10%, reaching $405,016. This upward trend suggests growing seller confidence and potential appreciation in home values.
However, the average sold price has dipped slightly by 1%, settling at $367,937. This could be influenced by various factors such as buyer preferences or specific property characteristics. It’s important to note that slight fluctuations in average sold prices are common and may not reflect the overall market trajectory.
In terms of pricing strategies, the number of listings with price reductions has decreased by 4% from last week. This indicates that sellers are strategically pricing their properties and finding success in attracting motivated buyers without the need for significant adjustments.
Additionally, the number of homes going back on the market has seen a 5% decline, totaling 129 listings. This suggests improved contract management and fewer instances of deals falling through.
While the average number of days on the market has increased by 7% to 32 days, it remains relatively low. This indicates that well-priced and well-marketed properties continue to attract buyers and move swiftly.
It’s worth noting that only 14 homes expired without being sold or re-listed. This suggests that the majority of sellers are actively working with their real estate agents to adjust strategies and optimize their chances of a successful sale.
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. 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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