02/12/25
What's Happening in Kansas City Real Estate This Week

This week, the Kansas City real estate market shows some mixed signals, with slight dips in sales and pricing as we move further into the winter season. While the numbers indicate some fluctuations, it's important to keep in mind that the market is still adjusting as we approach the busier months of the year. Let’s dive into this week’s numbers and break down what they mean for both buyers and sellers.

New Listings:

The number of new listings has decreased slightly by 4%, totaling 541 homes. This could be due to some sellers holding off or waiting for a more opportune time to list their properties as we move into the traditional spring selling season. Buyers may find fewer options this week, but as we get deeper into spring, the number of listings is expected to increase again.

Homes Sold:

The number of homes sold has dropped by 21%, now at 464 homes. This decrease in closed sales is a bit of a dip from previous weeks and could indicate that buyers are taking their time or being more selective in their home purchases. As we’re still in the early part of the spring market, we expect sales to pick up once more buyers are actively making decisions.

Average List Value:

The average list value has decreased slightly by 1%, bringing it to $348,247. This minor decrease could reflect sellers adjusting their pricing in response to the dip in sales or competition. With more homes on the market, sellers may be more inclined to be flexible on price in order to attract buyers. For those looking to buy, this could present an opportunity to find homes at a slightly lower price point.

Average Sold Price:

The average sold price has seen a drop of 6%, now sitting at $333,753. This decline may be tied to more lower-priced homes selling, or it could reflect a shift in the market where buyers are becoming more cautious with their spending. While the decrease may seem significant, it’s not unusual for prices to fluctuate as the market adjusts, especially in the early part of the year.

Price Reductions:

The number of listings with price reductions has dropped by 23%, now totaling 392 homes. This decline in price reductions could indicate that fewer sellers are adjusting their prices, or that homes that have already been reduced are finding buyers. For sellers, this may signal that there is less need for price cuts, but it's still important to remain competitive to attract potential buyers.

Homes Going Back on the Market:

The number of homes going back on the market has increased by 4%. This could indicate that some deals are falling through or that buyers are reconsidering their decisions. It’s worth taking a closer look at any homes that come back on the market, especially if the previous deal didn’t close due to specific issues that may or may not still be relevant.

Pending Sales:

Pending sales are down by 9%, now standing at 687 homes. While pending sales are still strong, this slight decrease could be a sign that buyers are slowing down a bit or taking longer to commit. It’s important to note that this is a typical shift in the market as we transition into spring, and we expect pending sales to pick up once more buyers finalize their decisions.

Average Days on Market:

The average number of days on market has increased by 2%, now at 55 days. This suggests that homes are taking slightly longer to sell than they did previously, possibly due to more competition or buyers being more cautious with their decisions. Sellers may need to be patient as the market stabilizes and more buyers start actively looking for homes in the spring.

 

What Does This Mean for You?

Overall, the Kansas City real estate market is showing a few signs of slowdown, but these fluctuations are fairly common during the transitional period as we move into spring. For buyers, this may be a great opportunity to explore the market with slightly fewer listings and a bit more flexibility in pricing. Sellers may need to be patient and ensure their homes are priced competitively in order to attract serious buyers.