What's Happening in Kansas City Real Estate This Week? 12/11/24

12/11/24
Weekly Kansas City Metro Real Estate Update

This week, we’re seeing some positive movement in the Kansas City real estate market. With a number of key indicators showing growth, it seems that the market is beginning to pick up again after the post-Thanksgiving slowdown. Here’s a breakdown of the latest statistics and what they mean for buyers and sellers.

 

New Listings Up 38% to 535 Homes

There’s been a significant jump in new listings this week, up 38% to 535 homes. This is great news for buyers who’ve been waiting for more options in the market. Sellers are increasingly confident as we approach the end of the year, and there’s a greater variety of homes available, offering more opportunities for both first-time and seasoned buyers.

Homes Sold Up 10% to 754

The number of homes sold has also increased by 10%, bringing the total to 754. This is a clear indication that demand is picking up, with buyers still actively searching for the right properties. The market is showing some resilience, even with the holiday season in full swing.

Average List Value Holding Steady at $341,483

The average list value is holding steady at $341,483, the same as last week. This consistency in list prices indicates that sellers are confident in the market and are pricing their homes competitively. Whether you're buying or selling, this stability is a good sign that the market is stabilizing as we head into the winter months.

Average Sold Price Down 1% to $369,588

Although the number of homes sold has increased, the average sold price has dropped slightly by 1%, now at $369,588. This modest decrease may be due to an increase in the number of homes available at different price points, offering more variety in terms of price. It’s important to remember that price fluctuations are typical, and this slight dip does not indicate a long-term trend.

Listings with Price Reductions Up 18% to 535 Homes

There has been an 18% increase in the number of listings with price reductions, bringing the total to 535 homes. This suggests that some sellers are adjusting their prices to better align with market expectations and buyer preferences. If you’re a seller, this is a good reminder to stay competitive with your pricing strategy to ensure your home stands out in a crowded market.

Homes Going Back on the Market Down 9%

The number of homes going back on the market has decreased by 9%. This could mean that buyers and sellers are making more decisive decisions, with fewer homes falling out of contract and returning to the listing pool. It’s a positive sign that the market is starting to regain its momentum after the seasonal slowdown.

Pending Sales Up 26% to 585 Homes

One of the most encouraging statistics this week is the 26% increase in pending sales, bringing the total to 585 homes. This indicates that there are more active buyers moving forward with offers and contracts, suggesting that the market is warming up for the end of the year. If you’ve been hesitant to make a move, now could be a great time to enter the market.

Average Days on Market Down 5% to 42 Days

The average number of days on market has decreased by 5%, now averaging 42 days. Homes are selling faster than in recent weeks, likely due to the increase in buyer activity and the growing number of listings. This trend is encouraging for sellers, as homes that are priced right and marketed well are seeing quicker sales.

 

What Does This Mean for You?

Overall, the Kansas City real estate market is showing some positive momentum, with increases in listings, sales, and pending contracts. While the average sold price has dipped slightly, the overall market remains healthy. If you’re thinking about buying or selling, this is a good time to contact us to help you navigate these changes and make informed decisions based on the latest market trends.

The end of the year is fast approaching, we expect the market to stay active but with some typical seasonal adjustments. Whether you’re buying, selling, or just keeping an eye on the market, be sure to check back next week for another update. And remember, if you have any questions, don’t hesitate to contact us at New Heights KC for personalized advice and guidance.

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