THE INDEXKC- KC CLAY COUNTY MARKET UPDATE
Weekly KC Metro Market Update
Clay County is located in the U.S. state of Missouri and is part of the Kansas City metropolitan area. As of the 2020 census, the county had a population of 253,335, making it the fifth-most populous county in Missouri. Its county seat is Liberty.
Clay County sales values are averaging 4.1% over list value, proving that although we’re seeing fewer mutiple offers in most price ranges, we’re still seeing strong growth in home appreciation. I am more than a little surprised that with 88 new listings last week we have 42 homeslisted previously that delivere a price reduction. That’s a 52.3% ratio of price reductions to new listings. one of the higher ratios in the Metro. Average days on market (prior to accepted contract) are still strong, at 15, compared to the Metro average of 17.
Check out the number of price reductions and the watch the days on market continue to extend as the market shifts….The shift is driven by several factors; rising mortgage interest rates, falling numbers of new build permits, buyer pool exhaustion/contraction….and the wild card, inflation.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers!