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THE INDEXKC- KANSAS CITY METRO MARKET UPDATE

THE INDEXKC- KANSAS CITY METRO MARKET UPDATE

Hello, Kansas City! We hope you had a joyful and restful holiday season. As we re-enter the world of real estate, Team Real Estate is here to unwrap this week’s figures and provide you with a fresh perspective on our local housing market.

Holiday Slowdown

It’s no surprise that the Christmas holiday had a significant impact on our real estate scene. We’ve observed a substantial 42% decrease in the number of homes being listed last week, with only 194 homes making their debut. The holiday season often brings a slowdown in real estate activity as families come together to celebrate.

Higher List Values Despite the Season

Despite the holiday slowdown, there’s been a 6% increase in the average list value, which now stands at $364,721. This is an interesting trend and might indicate that sellers are still optimistic about their property values.

A Post-Holiday Dip in Sold Prices

The average sold price has experienced a noticeable 16% decrease this week, now resting at $311,161. This dip is likely a reflection of the holiday season, as both buyers and sellers take a break to enjoy the festivities.

Fewer Price Reductions

Intriguingly, the number of listings with price reductions has also decreased by another 36% from last week. Sellers may not feel the need to adjust their prices as aggressively during the holiday season.

Post-Holiday Transactions

Transactions appear to be resuming after the holiday break, with the number of homes going back on the market down by 32%. This suggests that deals are progressing with fewer interruptions.

Pending Homes and Days on Market

However, the number of pending homes has decreased by 6% to 387. This could be a temporary holiday-related fluctuation, and we’ll be keeping a close watch on it in the coming weeks.

The average number of days on the market has also decreased by 11% to 41 days. Homes are moving faster, which could indicate that motivated buyers are looking to make a move in the new year.

In conclusion, the Kansas City real estate market experienced a holiday-induced slowdown, with fewer new listings and a dip in sold prices. However, the market appears to be reawakening as we move into the new year.

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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TEAMre Market Watch Update Kansas City Housing Market

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