THE INDEXKC- KANSAS CITY METRO MARKET UPDATE
Weekly KC Metro Market Update
Hello, Kansas City! It’s time for your weekly Kansas City real estate market update from Team Real Estate. First off, the number of homes being listed this week is showing some positive momentum, with a notable 8% increase. This uptick in new listings could be a sign of increased seller confidence.
Now, let’s talk about the numbers. The average list value for homes in Kansas City has climbed by 4% since last week, reaching a respectable $388,125. This increase indicates that sellers may be pricing their properties more competitively, possibly in response to the higher demand we’ve been witnessing.
The average sold price has dipped by 3% this week, settling at $345,282. This decrease could be due to a variety of factors, including the mix of properties sold or a slight slowdown in buyer activity.
The number of listings with price reductions has decreased by 7% compared to last week. This suggests that sellers are finding success with their initial pricing strategies, which aligns with the uptick in average list values.
Moving on to the number of homes going back on the market, we’ve observed a 14% decrease, with 121 homes re-entering the market. This is a positive sign that transactions are progressing smoothly, with fewer deals falling through.
Lastly, the average number of days on market has increased by 6% to 38 days. This might be an indication of a more balanced market where homes are taking a bit longer to sell. Buyers may have a little extra time to make their decisions.
In summary, the Kansas City real estate market is showing resilience and adaptability. While some figures have seen fluctuations, the overall trend remains positive. As always, if you have any questions or need personalized advice, feel free to reach out to our experienced team here at Team Real Estate. We’re here to help you make informed decisions in this ever-evolving market.
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