THE INDEXKC- KC METRO MARKET UPDATE
Weekly KC Metro Market Update
Buyers! Many of you were exhausted by multiple offers and rising prices over the past 3 years, you took a deep breath….And watch conditions evolve almost overnight. Lenders are delivering the sage wisdom, “Date the rate, marry the home”, meaning, you will refinance later; purchase now while competition is low.
Big takeaway?
Sellers, this was strong week for our market as both Average List and Average Sales values rose! Keep in mind, this is the result of buyers making the decision trove forward with the higher mortgage rates with an eye to refinance later.
Inventories almost doubled, so this is the time to be conservative with list prices, not an opportunity to run prices up in the face of higher rates.
The most frequently asked question this month is, “What is my home worth today,”?. Let’s connect and figure out what is the best set of circumstances we could create to bring your home to market.
