THE INDEXKC- KC RAYMORE/BELTON/PECULIAR MARKET UPDATE
Weekly KC Metro Market Update
Norm, (a new client) found us online and asked to see homes in Ramore and Belton. Sitting directly across from each other on 71 highway, the cities of Raymore and Belton have very different economic outlooks, and the first place to see those (graphIc below) is in the average sales values.
“I’m shocked”, exclaimed Norm! “Raymore’s average sales value reflects mostly newer construction as well as greater investment in the community. Belton’s days on Market are more than triple Raymore’s, even though Belton homes sell for $130,000 on average.”
Buyers you’d do well to seriously consider that price difference as a part of your overall decision to join either community; sellers we’re watching days on market in all three of these communities continue to rise.
Wikipedia tells us….
Raymore is a city in Cass County, Missouri, United States, within the Kansas City Metropolitan Area. Raymore is one of the fastest-growing cities in the state of Missouri. The population was 21,676 at the 2020 census. Per the City of Raymore website….The City of Raymore is situated for success and poised for continued growth due to its advantageous location right in the heart of one of the top industry and e-commerce markets across the United States. Here you can reach more than 85% of the US population within TWO days or less
Ease of access to the region’s 4 major interstate and commerce routes – I-49, I-70, I-35, and I-29 – regional Class I railways, international and regional airports, in addition to strong, reliable and ever-improving infrastructure, Raymore offers the most logical destination for your next project or expansion.
Belton is located in northwest Cass County and is four miles from the Missouri-Kansas border. The city is on Missouri Route 58 west of I-49/U.S. Route 71. Raymore lies four miles to the east, Peculiar is seven miles to the southeast along Route 71 and Grandview is five miles to the north in Jackson County. Belton was platted in 1871. The city was likely named for surveyor Capt. Marcus Lindsey Belt. A post office called Belton has been in operation since 1872.
There are at least two versions of the story on how Peculiar received its name. The first involves the community’s first postmaster, Edgar Thomson. His first choice for a town name, “Excelsior,” was rejected because it already existed in Atchison County, Missouri. Several other choices were also rejected. The story goes that the annoyed Thomson wrote to the Postmaster General himself to complain saying, among other things, “We don’t care what name you give us so long as it is sort of ‘peculiar’.” Thomson submitted the name “Peculiar” and the name was approved. The post office was established on June 22, 1868.
In an alternate version, according to Missouri folklorist Margot Ford McMillen, early settlers were searching for a location to farm. As they cleared a small rise and looked below, one remarked “Well that’s peculiar! It’s the very place I saw in a vision back in Connecticut.” The land was purchased and eventually a village sprang up on it, which was named “Peculiar”.
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!