THE INDEXKC- MIAMI COUNTY MARKET UPDATE
Weekly KC Metro Market Update
This is getting interesting….Homes Listed exceed Homes Sold by almost double. While we watch inventories rise, checkout the movement in sales values.
$377,000+ List Value vs $368,000+ Sales Values, YIKES we could purchase at a discount!
Add 9 Price Reductions lus 14 New Listings total 23 New/Reduced compared to 16 New Pending Sales….What does this mean to buyers?
As inventories rise, more negotiating (influenced by rising inventories) means buyers are moving to a position of greater equality. Better deals means both buyer ans sellers win by working together.
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!
The details from a trusted resource, Wikipedia!
Miami County is a county located in east-central Kansas and is part of the Kansas City metropolitan area. As of the 2020 census, the county population was 34,191. Its county seat and most populous city is Paola. The county was originally established in 1855 as Lykins County, after Dr. David Lykins. Lykins was a Baptist missionary to the Native American Indian tribes in the area, and had built a school for them in what is now rural Miami County. He also served as a member of the territorial council, and was pro-slavery. By January 1861, the anti-slavery forces had been established as dominant, and Kansas entered the union as a free state. As a result of Dr. Lykins’ views on slavery, Lykins County’s name was changed to Miami County on June 3, 1861. The new name was in honor of the predominant Native American tribe that settled the area, the Miami.
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