THE INDEXKC- KANSAS CITY METRO MARKET UPDATE
Weekly KC Metro Market Update
Kansas city metro home buyers and sellers, average list and sales values dropped for a third straight week.
What does this mean to buyers and sellers?
Sellers, well prepared homes are still selling quickly, check out the average days on market below. Buyers, keep an eye out as there is discounting occurring in homes less well prepared for sale. Keep in mind, we are experiencing a bit of a “glass ceiling”, with most multiple offer scenarios occurring below $400,000.
Most interesting though is the drop in sales values accompanied by the drop in pending sales. Buyers aren’t writing as many offers due to uncertainty outside the housing market itself. Inflation, rising cost of living, pending tax legislation, all contribute to consumer unrest.
Bright spot is the number of homes\listed/coming to market continues to rise, signaling more opportunity for both buyers and sellers.
The Kansas City metropolitan area is a bi-state metropolitan area. Its largest city is Kansas City, Missouri and other principal cities are Overland Park, Kansas, Kansas City, Kansas, and Lenexa, Kansas. Other suburbs with populations above 100,000 are Olathe, Kansas, Independence, Missouri, and Lee’s Summit, Missouri. (wikipedia)