THE INDEXKC- WYANDOTTE COUNTY MARKET UPDATE
Weekly KC Metro Market Update
Sellers, keep a sharp eye on the ever increasing days on market….Average sold price dipping below average list price DOES NOT MEAN home values are dropping; means sellers are still overly aggressive with list values. The “Market Shift” requires a shift in listing strategy. Move away from list values that reflect an aggressive economy and cheap mortgage interst rates, move towards a conservative list value and keep inflation in mind.
Buyers, same tune, different note. Keep an eye on homes that sit a bit longer as they may denote sellers who are getting anxious or impatient.
The county is named after the Wyandot (also known as Wyandott or Wyandotte) Indians. They were called the Huron by the French in Canada, but called themselves Wendat. (Wikipedia)
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!