THE INDEXKC- KANSAS CITY METRO MARKET UPDATE
Hello, Kansas City! It’s time for your weekly real estate market update from your trusted local agency. Let’s explore the latest figures and gain insight into the current state of the housing market.
To kick things off, the number of homes being listed this week has risen by 8%, with 617 homes newly available on the market. This increase in listings indicates continued seller confidence.
Now, in terms of pricing, the average list value for homes in Kansas City has inched up by 1% from last week, reaching $353,243. Sellers appear to be holding firm on their pricing strategies.
On the positive side, the average sold price has also increased by another 1%, now standing at $365,976. This suggests that there’s still strong demand in the market, potentially leading to competitive pricing.
In terms of price reductions, there’s been a 12% decrease from last week, showing that sellers are becoming more selective with price adjustments.
Furthermore, the number of homes going back on the market has decreased significantly, down 25% to 107. This indicates that transactions are progressing more smoothly, with fewer deals falling through.
However, it’s worth noting that the number of pending homes has decreased by another 17%, possibly reflecting a momentary lull in buyer activity.
Lastly, the average number of days on the market has ticked up by 3% to 39 days. This could indicate a slight slowdown in the pace of sales, which might be influenced by various factors, including seasonal trends.
In summary, the Kansas City real estate market remains dynamic, with increased listings and steady list values. Sellers appear to be confident in their pricing, and buyer demand continues to influence sold prices.
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