02/26/25
What's Happening in Kansas City Real Estate This Week

As we approach the final days of February, the Kansas City real estate market is showing some positive movement, with more homes sold and pending contracts on the rise. While some indicators have shifted, overall, it’s clear that the market is starting to pick up as we move closer to the spring selling season. Here’s a look at this week’s numbers and what they mean for both buyers and sellers.

New Listings:

This week, the number of homes listed has decreased by 13%, totaling 453 homes. While this drop may seem concerning at first, it’s a typical trend as we approach the end of the month and into the spring market. Sellers may be waiting for the spring season to fully arrive, but as we move forward, we expect new listings to rise again.

Homes Sold:

On a positive note, the number of homes sold has jumped by 15%, reaching 571 homes. This increase indicates a strong market, with buyers actively closing deals. If you’re a seller, this uptick in sales should be encouraging, showing that well-priced homes are still moving quickly.

Average List Value:

The average list price has risen by 9%, now sitting at $396,476. This significant increase could reflect higher-priced homes coming to market as sellers adjust for the spring season. Buyers should be prepared for slightly higher prices, but with more listings coming soon, there will be a wider range of options available.

Average Sold Price:

The average sold price has increased by 2%, now at $343,383. While this increase is modest, it still indicates that homes are maintaining their value, and buyers are willing to pay for quality properties. This is a positive sign for sellers, as it shows that homes in good condition are still attracting competitive offers.

Price Reductions:

Price reductions have increased by 6%, bringing the total to 355 homes. This suggests that some sellers are adjusting their pricing in response to market conditions. While price reductions are common in a shifting market, it’s important for sellers to remain flexible and competitive with their listings. Buyers may find opportunities in these reduced-price homes.

Homes Going Back on the Market:

The number of homes going back on the market has increased by 24%, now totaling 126 homes. This could indicate that some deals are falling through or that buyers are re-evaluating their decisions. If you’re considering a home that has returned to the market, be sure to do a thorough review of why the previous transaction didn’t go through.

Pending Sales:

Pending sales have seen a solid increase of 12%, reaching 653 homes. This rise shows that buyers are still active in making offers and moving forward with their decisions. With more homes under contract, we expect this trend to continue as we move into the busier spring months.

Average Days on Market:

The average number of days on market has decreased by 7%, now standing at 54 days. Homes are selling a bit faster than before, which is a good sign for sellers. If you’re thinking about listing your home, this indicates that properties are being taken off the market more quickly when they are priced right and in good condition.

 

What Does This Mean for You?

Overall, the Kansas City real estate market is showing positive growth, with more homes being sold and a rise in pending sales. While the number of listings is down, the strong sales activity suggests that demand is high. Sellers should consider pricing their homes competitively to take advantage of the rising interest from buyers. Buyers, on the other hand, may want to act quickly before prices rise further, especially as more homes become available in the coming weeks.