THE INDEXKC- KANSAS CITY METRO MARKET UPDATE
Weekly KC Metro Market Update
Hello, Kansas City homeowners and potential buyers! Welcome to our weekly market update, where we bring you the latest insights into the local real estate scene. As your trusted real estate agency, we’re here to keep you informed and help you navigate the market with confidence.
Let’s jump right into the exciting figures for this week. We’ve seen a significant increase in the number of homes being listed, up by an impressive 36%, with 728 homes hitting the market. This surge in new listings provides a fantastic opportunity for buyers to explore a wide array of options.
On the pricing front, the average list value has experienced a notable 10% decrease, reaching $369,864. This adjustment in list prices may create an advantage for buyers seeking more affordable opportunities in the market.
Conversely, the average sold price has seen an impressive 14% increase, reaching $382,367. This indicates robust buyer demand and suggests that well-priced properties are finding success in attracting motivated buyers.
Moreover, we’ve observed a 6% decrease in the number of listings with price reductions from last week. This indicates that sellers are strategically pricing their properties and finding success in the current market conditions.
Additionally, there has been a 6% decline in the number of homes going back on the market, totaling 129 listings. This suggests improved contract management and fewer instances of deals falling through.
As for market velocity, the average number of days on the market has increased by 12% to 38 days. While properties may take slightly longer to sell, this timeframe is still relatively reasonable, especially when compared to historical averages.
In this dynamic market, both buyers and sellers can benefit from working with experienced real estate agents who can provide personalized insights and guide them through the process. Whether you’re looking to buy or sell, having a knowledgeable partner by your side can make all the difference.
As we continue to monitor the market, we’re here to answer any questions you may have and provide expert guidance. Our goal is to help you make informed decisions and achieve your real estate objectives.
If you’re ready to embark on your real estate journey, don’t hesitate to reach out. Until next week, stay informed and stay positive as we navigate the Kansas City real estate market together!
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