THE INDEXKC- KC METRO MARKET UPDATE
Weekly KC Metro Market Update
Bob and Julia delivered several offers last summer….They really wanted to sell their home in Briarcliff, but needed an accepted offer in order to justify putting their home on the market.
As buyers, they are seeing inventories grow, and are having no trouble getting out to see homes before they go under contract. They are both incredibly encouraged as they restart their search. Yes mortgage rates have risen, but that’s reduced their competition, and their Realtor is reassuring them there will be room to negotiate after inspections. They know reates will still rise further, so waiting for rates to drop isn’t in their plans.
On the sales side, Julia is concerned they won’t have multiple offers….Bob tells her, “We’ll see our home sit a little longer on market, though that isn’t a long term worry. The buyer side and the seller side are tied to the same market factors.” Both Bob and Julia know they can sell their home easily, as inventories are at near record lows.
Days on market dropped right along with price reductions….List and sales values also reduced accordingly. Julia and Bob are using those factors to their advantage as they contemplate writing their offer this week.
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!