THE INDEXKC- KC METRO MARKET UPDATE
Weekly KC Metro Market Update
The market shift getting you down?
Number of homes listed is rising week over week, as is the number of homes coming back to market. These homes coming back to market included listings cancelled by sellers, expired listings as well as those homes where sales were cancelled based on inspections and failure of financing.
Curiously, the number of sales in the Kansas City Metro also increased; buyers have received the message to purchase when there is less competiton, and refinance as rates drop later.
Plenty of well quialified buyers are getting offers accepted daily with fewer multiple offer situations and fewer offers in each of these when they occur.
Big takeway? 603 price reductions compared to 641 new listings.
Sellers, choose your agent carefully….get the advice to price your home correctly during this short term downturn, otherwise your home will sit and gather days on market while your frustration and anxiety rise.
Days on market aren’t increasing and sales values have only adjusted incrementaly for well prepared homes priced correctly in comparison to neighboring homes….the fewer offers received are closing right on time, making it easier for you (sellers) to find your next home!
FUN KANSAS CITY FACTS
Kansas City is the 29th most populated metropolitan area in the US. The scoreboard at Arrowhead Stadium was the first to transmit instant replay. Kansas City has more barbeque restaurants per capita than any other US city. The Country Club Plaza, opened in 1922, was the country’s first suburban shopping district. (kcparent.com)
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!