01/22/25
What's Happening in Kansas City Real Estate This Week

As we move further into the year, the Kansas City real estate market continues to show both positive and challenging trends. This week, the numbers show a healthy increase in new listings, but also a slight decrease in homes sold. Despite these fluctuations, it’s clear that the market is still adjusting, and buyer activity is rising. Here’s a closer look at the numbers and what they mean for buyers and sellers right now.

New Listings Up 18% to 439 Homes

There’s good news for buyers! The number of new homes being listed this week has increased by 18%, totaling 439 homes. This surge in listings suggests that sellers are starting to get more active as we move toward the spring market. With more options available, buyers have a better chance of finding the home that fits their needs. As the year progresses, we expect to see even more homes coming to market.

Homes Sold Down 11% to 478

Despite the increase in new listings, the number of homes sold has dropped by 11%, now sitting at 478 homes. This slight decline in sales can likely be attributed to buyers taking their time after the holidays, or perhaps being more cautious in the current market. While sales are down, this drop isn’t drastic, and we expect the number to rebound as more buyers return to the market.

Average List Value Down 2% to $385,054

The average list value has decreased by 2%, now at $385,054. This slight drop could be a result of sellers adjusting their prices as more homes become available. It’s also possible that homes at a lower price point are being listed, bringing the average down. For buyers, this could mean a bit more flexibility in pricing as sellers make adjustments to stay competitive.

Average Sold Price Holding Steady at $339,567

Interestingly, while the average list value decreased, the average sold price has held steady at $339,567. This indicates that while sellers may be adjusting their prices, the homes that are actually selling are maintaining their value. If you’re a seller, this suggests that pricing your home competitively will help you close deals. For buyers, this is a positive sign that the market is still holding strong for homes that are priced right.

Listings with Price Reductions Up 25% to 440 Homes

Listings with price reductions have increased by 25%, bringing the total to 440 homes. This increase suggests that some sellers are re-evaluating their pricing in response to the current market conditions. Buyers may find opportunities in these price-reduced listings, especially if a home has been on the market for a while and the price has been adjusted.

Homes Going Back on the Market Down 15%

The number of homes going back on the market has decreased by 15%, which is a good sign for the market. Fewer deals are falling through, which means that buyers and sellers are sticking with their decisions. This trend adds to the stability in the market, making it a bit easier for both sides to make progress in their transactions.

Pending Sales Up 31% to 574 Homes

One of the most encouraging numbers this week is the 31% increase in pending sales, now standing at 574 homes. This significant jump suggests that more buyers are locking in deals and moving toward closing. With more homes under contract, this could signal a strong spring market ahead. Sellers can take heart knowing that demand is increasing and buyers are ready to act.

Average Days on Market Up 28% to 60 Days

The average number of days on market has increased by 28%, now sitting at 60 days. This increase could indicate that buyers are being more selective or taking their time to make decisions, especially as we approach the spring season. If you’re a seller, it’s important to be patient during this time and ensure your home is priced competitively to attract offers. If you’re a buyer, this means there may be more time to explore options before making an offer.

 

What Does This Mean for You?

Overall, the market is showing both growth and adjustment. The increase in new listings is great for buyers, giving them more options, while the jump in pending sales signals a rise in buyer confidence. However, the slight decrease in homes sold and the increase in days on market suggest that both buyers and sellers are still navigating a transitional period.

If you’re a seller, now is a good time to assess your pricing strategy, especially with the increase in price reductions. If you’re a buyer, there are still opportunities to find great homes—especially those that have had price reductions or are priced competitively.