02/19/25
What's Happening in Kansas City Real Estate This Week

This week, the Kansas City real estate market is showing some modest changes in key indicators. While there are some slight decreases in listings and price reductions, we are seeing increases in sales, pending contracts, and prices. Here’s the breakdown of this week’s numbers:

New Listings:

The number of new homes listed this week has decreased by 4%, with 521 homes entering the market. While this is a small dip, we still see healthy activity. As we move closer to spring, we expect to see an uptick in new listings, which could provide more options for buyers.

Homes Sold:

On a positive note, the number of homes sold has increased by 7%, now totaling 497 homes. This rise in sales indicates that buyers are still actively engaging with the market, and well-priced homes are moving quickly. If you’re thinking about selling, this is a great sign that demand is still strong.

Average List Value:

The average list price has increased by 5%, now sitting at $365,499. This increase reflects the ongoing demand for homes, with sellers confident that the market can support these slightly higher prices. Buyers should be prepared for slightly higher price points, but there are still plenty of homes at a range of prices.

Average Sold Price:

The average sold price has also increased by 5%, reaching $350,639. This indicates that homes are continuing to hold their value and that buyers are willing to pay a little more for homes that meet their needs. It’s a positive sign that the market is stable, with home prices holding firm.

Price Reductions:

The number of listings with price reductions has decreased by 14%, now at 336 homes. This reduction in price reductions suggests that fewer sellers are needing to lower their prices, which could indicate more confidence in the market. However, it’s still important for sellers to be strategic with their pricing to attract the right buyers.

Homes Going Back on the Market:

The number of homes going back on the market has increased by 19%, now standing at 102 homes. This could be a result of deals falling through or buyers reconsidering their options. While it’s not uncommon for homes to come back on the market, it's important for potential buyers to understand why these deals didn’t close.

Pending Sales:

Pending sales have seen a solid increase, up 8% to 740 homes. This rise suggests that buyers are still actively looking and making offers. With more homes under contract, we expect the market to remain strong in the coming weeks.

Average Days on Market:

The average number of days on market has increased by 6%, now averaging 58 days. Homes are taking a bit longer to sell compared to previous weeks, which could indicate that buyers are being more selective or taking their time to make decisions. However, this is still a relatively short time frame for homes to be on the market.

What Does This Mean for You?

The Kansas City real estate market is experiencing modest shifts, but overall, the market remains strong. There are more homes being sold and a healthy increase in pending contracts. Sellers who are pricing their homes competitively are seeing success, while buyers may have to navigate slightly higher prices and a bit longer time on the market.