03/05/25
What's Happening in Kansas City Real Estate This Week

The Kansas City real estate market is starting to heat up as we move into March, with a significant increase in new listings and homes sold. While the number of price reductions is on the rise, the overall trend shows a busy and competitive market. Let’s take a closer look at the latest numbers.

New Listings:

There’s a big jump in new listings this week, up 55% to 701 homes. This increase in available properties is great news for buyers, offering more choices in the market. As we enter the spring season, we expect this trend to continue, providing plenty of options for buyers looking for their perfect home.

Homes Sold:

The number of homes sold has seen a significant increase, up 42% to 809 homes. This surge in sales is a strong indication that buyer activity is on the rise, with many buyers eager to make a move before the busy spring season. Sellers who have priced their homes competitively are seeing success as homes are flying off the market.

Average List Value:

The average list price has increased by 9%, now sitting at $433,633. This rise in list prices reflects growing demand and more higher-priced homes entering the market. Buyers can expect to see a wider range of prices as more listings come available, but overall, the market is showing strength in pricing.

Average Sold Price:

The average sold price has risen by 10%, reaching $377,727. This increase suggests that buyers are willing to pay a bit more for homes in good condition and desirable locations. Sellers can be confident that homes are holding their value, while buyers should be prepared for potentially higher prices in this competitive market.

Price Reductions:

Price reductions have increased by 30%, totaling 460 homes. This rise in price reductions indicates that some sellers are adjusting their pricing to stay competitive. If you’re a buyer, this could be a good opportunity to find deals on homes that have had their prices lowered to attract more attention.

Homes Going Back on the Market:

The number of homes going back on the market has increased by 12%, now at 141 homes. This could be due to deals falling through or buyers reconsidering their decisions. If you're considering a home that’s come back on the market, make sure to review it thoroughly to understand why the previous deal didn’t close.

Pending Sales:

Pending sales have surged by 28%, bringing the total to 835 homes. This is a strong indicator that buyers are actively making offers and moving forward with their purchases. With more homes under contract, the market is showing continued strength as we enter spring.

Average Days on Market:

The average number of days on market has increased by 4%, now sitting at 56 days. While this slight increase may indicate that homes are taking a bit longer to sell, the market remains relatively fast-moving. As more homes are listed, expect the time on market to stabilize.

What Does This Mean for You?

The Kansas City real estate market is showing positive growth, with an increase in listings and a significant rise in homes sold. While price reductions are up, this is a normal adjustment as sellers compete for buyer attention. If you’re a buyer, this is a great time to start exploring options before the market gets even more competitive. Sellers should take advantage of the current demand and price their homes strategically to attract buyers.