THE INDEXKC- LEAVENWORTH BASEHOR TONGANOXIE METRO MARKET UPDATE
Weekly KC Metro Market Update
Basehor homes carry the greatest average days on market of the major cities in Leavenworth county with 89 days. Thats roughly 400% greater than the Kansas City Metro as whole, while also carrying the highest average list an sales values.
Contrast those numbers with the city of Leavenworth, with average list and ell values roughly 50% lower and an average of only 15 days on market.
Sellers, Buyers are looking to negotiate again; the days of multiple offers forcing buyers to accept whatever is available isn’t a worthy strategy at this point, as the market slows its pace. Buyers, recognize many sellers are suffering from a market induced hangover fuled by cheap mortgage interest rates and record low inventories. Let’s work together and help all sides benefit!
From our friends at Tonganoxie.org…
Tonganoxie is nearly equidistant between the east and west coasts of the United States and between the Gulf coast and the national border with Canada in Minnesota. The elevation is 960 feet above sea level in the wooded glacial hills of northeastern Kansas. Tonganoxie is a part of the Kansas City metropolitan area, and the driving time between the cities is under 40 minutes in any direction. US Highway 24 passes right through Tonganoxie, and it is a short distance to I-70, a major interstate highway across the United States and locally connecting Kansas City with Lawrence, Topeka, Junction City, Salina, Hays, Goodland, and Denver (Colorado). Nearby colleges include the University of Kansas, Washburn University of Topeka, Kansas City Kansas Community College, Johnson County Community College, and a number of smaller universities and colleges. Area sports teams include Kansas Jayhawks and other collegiate teams, MLB’s Kansas City Royals, and the NFL’s Kansas City Chiefs, Sporting KC professional soccer, T-Bones minor-league baseball, arena football, roller derby, and professional bull riders.
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!