01/29/25
What's Happening in Kansas City Real This Week

As we approach the end of January, the Kansas City real estate market is showing some promising signs of stability, with an increase in pending sales and a slight dip in new listings. While some numbers are down, the overall market continues to evolve with some notable trends. Let’s break down the key statistics from this week and what they mean for buyers and sellers.

New Listings:

The number of homes being listed has increased by 5%, bringing the total to 459 homes this week. This slight uptick is good news for buyers, as it means more options are becoming available. As the spring market approaches, we expect even more homes to hit the market, offering buyers a greater variety of choices.

Homes Sold:

The number of homes sold has decreased by 10%, now totaling 431 homes. This drop in sales could be due to a variety of factors, including buyer hesitation or slower decision-making during this transitional period. While the market is still active, we’re seeing a slight cooling in terms of closed transactions, which is common during the early part of the year.

Average List Value:

The average list value has decreased by 8%, now sitting at $353,088. This shift may indicate that more homes are being listed at lower price points or that sellers are adjusting their pricing strategies to be more competitive in the current market. For buyers, this could mean more affordable options are available, but it’s important to monitor how pricing trends evolve over the coming weeks.

Average Sold Price:

In contrast to the drop in list value, the average sold price has risen by 7%, reaching $362,682. This increase suggests that homes that are selling are still holding strong in value. It may indicate that buyers are willing to pay a premium for homes that are priced competitively and in good condition. Sellers who can meet buyer expectations are still seeing success in the market.

Price Reductions:

The number of listings with price reductions has decreased by 12%, now at 386 homes. This decline in price reductions suggests that fewer sellers are adjusting their prices in response to market pressures. Homes that are priced right are still moving, and some sellers are finding success at their listed prices. Buyers should be on the lookout for homes that may have recently had a price reduction, as these could present opportunities for negotiation.

Homes Going Back on the Market:

The number of homes going back on the market has increased by 11%, suggesting that some deals have fallen through or that buyers are taking more time to finalize their decisions. While this can be a bit frustrating for both buyers and sellers, it’s important to stay flexible. If you’re interested in a home that’s returned to the market, take the time to understand why it didn’t close the first time around.

Pending Sales:

Pending sales have increased by 2%, now standing at 587 homes. This is a positive sign that more buyers are moving forward with offers and closing deals. While overall sales may be down, the fact that pending sales are on the rise indicates that there is still strong demand in the market, and we expect to see more closings as we move into the spring months.

Average Days on Market:

The average number of days on market has decreased by 20%, now averaging 48 days. This is a promising sign that homes are selling a bit faster than they were in previous weeks. Sellers are likely pricing their homes more competitively, and buyers are becoming more decisive in their choices. If you’re a seller, it’s a good time to keep your home in good shape and price it right to ensure a quicker sale.

What Does This Mean for You?

Overall, the Kansas City real estate market is moving in a positive direction, even with a few fluctuations. While the number of homes sold has decreased slightly, the increase in pending sales and the drop in days on market show that buyer activity is still strong. Sellers who are pricing their homes competitively and maintaining good listings are seeing success. For buyers, the slight drop in list prices and the increase in available inventory offer some great opportunities to find the right home at a fair price.