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THE INDEXKC- KANSAS CITY METRO MARKET UPDATE

THE INDEXKC- KANSAS CITY METRO MARKET UPDATE

Hello, Kansas City! Team Real Estate is back with your weekly real estate update, and it’s been an eventful week in our local housing market. Let’s dive into the latest figures and see how the landscape is shaping up.

More Homes on the Market

Firstly, there’s been a 12% increase in the number of homes being listed this week, with 218 homes making their entrance. This rise could indicate a surge in seller activity, potentially due to changing market conditions.

Steady List Values

The average list value has seen a slight increase, now resting at $364,013. While the change is subtle, it suggests that sellers are holding firm on their pricing strategies, reflecting their confidence in the market.

Positive Movement in Sold Prices

On the positive side, the average sold price has experienced a 2% increase this week, reaching $315,737. This suggests ongoing demand in the market, which may be driving prices upward.

Price Reductions on the Rise

One notable trend is the significant 44% increase in the number of listings with price reductions from last week. Sellers seem to be more willing to adjust their prices to attract potential buyers.

Transactions and Pending Homes

Transactions are bustling, with the number of homes going back on the market increasing by a significant 59%. This could be due to various factors, such as financing issues or inspection contingencies.

However, the number of pending homes has decreased by 7% to 361. This might be a temporary fluctuation, and we’ll be keeping a close eye on it in the coming weeks.

Days on Market

The average number of days on the market has inched up by 2% to 42 days. Homes are taking a bit longer to sell, which might be influenced by changing market dynamics or seasonal patterns.

In summary, the Kansas City real estate market continues to evolve, with more listings and positive movement in sold prices. While price reductions are on the rise, indicating some negotiation flexibility, transactions remain active.

Whether you’re considering buying or selling, Team Real Estate is here to provide guidance and support. Stay tuned for next week’s update, and have a fantastic week ahead, Kansas City!

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