THE INDEXKC- PAOLA LOUISBURG SPRING HILL MARKET UPDATE
Weekly KC Metro Market Update
Paola buyers and sellers, keep an eye on the relationship between average list value ($250,166) and average sold value ($243,714) in Paola. Though 79 average days on market is uncharacteristically long, homes are still gaining equity, at a slower pace.
Louisburg and Springhill demonstrate stronger micro markets for both buyers and sellers. Buyers are purchasing stronger equity growth, sellers ar still seeing a strong improvement from list value to sell value.
Buyers, keep your eyes on average days on market; communities that see those intervals extend more quickly will be your best value for your dollar. Sellers, prepare yourself for patience; relax into the listing process, keep an eye on feedback, be prepared to work the listing with your Realtor.
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.
