New Listings Down 37% to 387 Homes

This week, the number of homes being listed for sale has dropped by 37%, bringing the total to 387. This is a sharp decline compared to previous weeks, and it’s likely that many sellers are holding off until after the holiday season, or possibly waiting until the new year to list their homes. If you're a seller, don’t panic! While the numbers are down, this could create an opportunity for your listing to stand out.

Homes Sold Down 27% to 685

The number of homes sold this week has also decreased by 27%, dropping to 685. This is another reflection of the holiday slowdown, as many buyers and sellers take a break during this time. While the drop in sales can seem concerning, it’s crucial to understand that this is often a seasonal trend, and the market is likely to pick up again as we move into the new year.

Average List Value Up 2% to $342,044

One encouraging sign is that the average list value has increased by 2%, now standing at $342,044. This suggests that despite the drop in listings and sales, home values are holding steady or even slightly increasing. It’s a good reminder that while activity may slow down, home prices can remain resilient, especially for well-maintained and strategically priced properties.

Average Sold Price Down 7% to $372,066

On the flip side, the average sold price has decreased by 7%, now at $372,066. This could reflect buyers being more cautious in their purchasing decisions, especially as we enter the slower part of the year. While this might seem like a dip, it’s important to remember that price fluctuations are normal, especially as we approach the end of the year.

Price Reductions Down 30% to 452 Homes

Price reductions have decreased by 30%, with only 452 homes seeing a price drop this week. This suggests that fewer sellers are adjusting their prices in response to the current market conditions. Sellers who are pricing their homes competitively are likely seeing better results than those trying to push the market too hard. If you're a seller, it’s a good time to talk to a TEAMre agent to ensure your home is priced right for today’s market.

Fewer Homes Going Back on the Market – Down 12%

The number of homes that are going back on the market has dropped by 12%. This could be a sign that both buyers and sellers are taking more time to make decisions, especially with the holiday season approaching. If a home is coming back on the market, it’s important to look closely at the reasons behind it. A real estate professional from TEAMre can help you navigate these nuances and avoid surprises.

Pending Sales Down 36% to 464 Homes

Pending sales have seen a substantial decrease of 36%, now sitting at 464 homes. This again points to the typical holiday slowdown, where fewer buyers are actively negotiating deals. It’s not a sign of a long-term downturn, but a temporary dip due to the timing of the year. If you're in the process of buying or selling, patience is key.

Average Days on Market Up 2% to 44 Days

Finally, the average number of days on market has increased by 2%, now averaging 44 days. Homes are taking a little longer to sell, likely because fewer buyers are active right now. However, it’s not an alarming trend. As the market stabilizes and the holidays pass, we expect the time on market to return to more typical levels.

Don’t Worry – Talk to a New Heights KC Agent

While these numbers show significant changes, it’s important not to panic. The real estate market is always subject to fluctuations, especially around the holidays. If you’re thinking about buying or selling, or if you have any questions about how these changes might impact your specific situation, don’t hesitate to reach out to one of our experienced agents at New Heights KC. We’re here to guide you through every step of the process, even during the slower months.

Check back next week for another update on the Kansas City real estate market! We’ll keep you informed and help you make the best decisions for your real estate goals.

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