03/19/25
What's Happening in Kansas City Real Estate This Week

As we move further into March, the Kansas City real estate market is showing signs of growth, with more homes being listed and an uptick in pending sales. While the number of homes sold has dipped slightly, prices remain steady. Let’s break down the latest numbers and what they mean for both buyers and sellers in the current market.

New Listings:

The number of new homes being listed has increased by 22%, now totaling 741 homes. This is a significant jump from previous weeks, offering more choices for buyers as the spring market starts to pick up. As we head into a busier season, we expect the inventory to keep rising, providing more opportunities for homebuyers.

Homes Sold:

While the number of homes listed is up, the number of homes sold has decreased by 7%, now at 638 homes. This slight dip could be attributed to a variety of factors, including buyer hesitation or sellers adjusting their prices. However, it’s important to remember that a 7% decrease is relatively small, and homes that are priced correctly are still moving quickly.

Average List Value:

The average list price has increased by 2%, now at $417,504. This suggests that sellers are continuing to have confidence in the market, especially as more homes become available. For buyers, this means higher-priced listings are entering the market, but there’s still a wide range of options in different price brackets.

Average Sold Price:

The average sold price has also increased by 2%, now sitting at $362,433. This is a positive indicator for sellers, as homes are continuing to maintain their value. Even with slight fluctuations in sales volume, the market remains stable, with homes closing at strong prices.

Price Reductions:

The number of homes with price reductions has increased by 4%, now totaling 495 homes. This could indicate that some sellers are adjusting their expectations to stay competitive in a market with increasing inventory. Buyers may find opportunities here, especially as sellers look to attract more attention by lowering prices.

Homes Going Back on the Market:

The number of homes going back on the market has increased by 3%, bringing the total to 159 homes. This could be due to deals falling through or buyers reconsidering their decisions. If you’re looking at a home that has come back on the market, it’s a good idea to investigate why the previous contract didn’t work out.

Pending Sales:

Pending sales are up by 9%, now standing at 887 homes. This is a strong indicator of continued buyer activity. Despite the slight decrease in homes sold, the increase in pending sales shows that buyers are still actively making offers, and many homes are under contract and moving toward closing.

Average Days on Market:

The average number of days on market has remained stable at 52 days. This shows that, overall, homes are taking about the same amount of time to sell as they did in previous weeks. As the market continues to warm up, we may see days on market decrease slightly as buyer demand increases in the coming weeks.

What Does This Mean for You?

Overall, the Kansas City real estate market is showing positive signs of activity. The increase in new listings and pending sales is a great indicator of a healthy, competitive market. Buyers will have more choices as more homes are listed, while sellers should be mindful of pricing strategies to stay competitive. If you're a buyer, now is a good time to explore available options before the market becomes even more competitive.