THE INDEXKC- KANSAS CITY METRO MARKET UPDATE
Hello, Kansas City! It’s time for your weekly real estate market update from Team Real Estate! Let’s dive into the latest figures and see what’s been happening in the Kansas City housing market this week.
First and foremost, the number of homes being listed this week is on the rise, showing a 13% increase, with a total of 643 homes hitting the market. This uptick in new listings could be a sign of growing seller confidence in the market.
Now, let’s talk about pricing. The average list value for homes in Kansas City has experienced a slight decrease of just 0.30% since last week, now standing at $357,740. This minimal fluctuation suggests relative stability in list prices.
On the positive side, the number of listings with price reductions has increased by 11% compared to last week. Sellers may be adapting their strategies to attract more potential buyers.
Additionally, the number of homes going back on the market has risen by 7%, with 125 homes re-entering the market. This could be due to various reasons, including financing issues or inspection contingencies.
Lastly, the average number of days on market has increased by 45% to 42 days. This suggests that homes are taking a bit longer to sell, potentially due to changing buyer preferences or seasonal factors.
In summary, the Kansas City real estate market is showing some fluctuations this week, with more new listings and changes in both list and sold prices. Sellers seem to be adapting their approaches, possibly in response to shifting market conditions.
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