THE INDEXKC- SHAWNEE MARKET UPDATE
Weekly Shawnee Real Estate Market Update
13 new listings last week, accompanied by 7 price reductions (from homes listed in previous weeks), tell the tale; lack of inventory across all price ranges continues to drive a strong micro market in Shawnee. Days on market averaged 5 this past week in Shawnee, while the rest of the metro averaged 13.
The shift in our industry is driven by several factors; rising mortgage interest rates, falling numbers of new build permits, buyer pool exhaustion/contraction….and the wild card, inflation. We’ll continue to see prices rise less as the year progresses.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers. www.teamre.com/contactus