05/021/025
What's Happening in Kansas City Real Estate This Week

As we approach the end of May, the Kansas City real estate market is showing continued growth, with notable increases in both new listings and homes sold. While some numbers reflect slight adjustments compared to last week, the overall trend is one of positive movement, signaling a busy and active spring market. Let’s take a closer look at this week’s numbers and compare them to last week’s changes.

New Listings:

This week, the number of homes listed has increased by 10%, totaling 874 homes. This surge follows last week’s 798 homes and is a great sign that more inventory is entering the market. Buyers have more options this week compared to last, making it a good time to explore new listings. As the market continues to warm up, we expect this trend to continue throughout the spring season.

Homes Sold:

The number of homes sold has increased by 13%, now totaling 966 homes. This is a positive shift compared to last week’s 855 homes sold. This increase in sales is a clear sign that buyer activity is strong, with more homes moving through the sales process. It’s a great time for sellers, as homes are still closing quickly and with good demand.

Average List Value:

The average list price has increased by 7%, now standing at $429,614. This is a notable rise from last week’s $403,034. This jump reflects the increased confidence in the market, as sellers are pricing homes slightly higher as demand grows. Buyers can expect to see homes at a higher price point as more homes hit the market, but overall, this increase is a sign of a healthy market.

Average Sold Price:

The average sold price has increased by 9%, now at $403,098. This rise is consistent with last week’s $368,802 and reflects the growing demand for homes in Kansas City. Buyers are willing to pay more for homes, particularly those that are well-maintained and in desirable areas. This is a positive sign for sellers, as homes are maintaining their value and selling for higher prices.

Price Reductions:

Price reductions have increased slightly by 1%, bringing the total to 751 homes. This increase follows last week’s 744 homes with price reductions. While the number of price reductions has grown, it is still a relatively low percentage of the overall market, suggesting that many homes are selling at or near their listed prices. Buyers may still find opportunities in these price-reduced homes.

Pending Sales:

Pending sales have increased by 2%, now at 984 homes. This slight uptick follows last week’s 916 homes pending sale. The increase in pending sales indicates that buyer activity is strong, with more homes under contract and moving toward closing. This trend suggests continued buyer confidence and growing market momentum as we head into summer.

Homes Going Back on the Market:

The number of homes going back on the market has decreased by 11%, now standing at 149 homes. This decrease follows last week’s 186 homes returning to the market. This reduction suggests that fewer deals are falling through, which is a positive sign for both buyers and sellers, as homes are more likely to move forward to closing without complications.

Average Days on Market:

The average number of days on market has increased by 3%, now averaging 39 days. This is slightly up from last week’s 38 days. While this increase is minor, it suggests that homes are taking a bit longer to sell compared to the previous week. However, 39 days is still relatively fast in the Kansas City market, indicating that homes are moving quickly as long as they are priced right.

 

What Does This Mean for You?

Overall, the Kansas City real estate market continues to show positive trends, with more homes listed, higher sales, and increasing prices. While there are small fluctuations in the numbers compared to last week, these shifts are natural as the market adjusts. Sellers should remain confident that homes are selling quickly and at competitive prices, while buyers have more options to choose from as inventory rises.