01/15/25 
What's Happening in Kansas City Real Estate This Week

As we move into the second month of the year, the Kansas City real estate market is showing some interesting shifts. This week’s numbers reflect a mix of rising sales and price adjustments, with some signs of growth despite a slight dip in prices. Let’s break down the key trends and what they mean for both buyers and sellers.

New Listings Down 2% to 373 Homes

This week, the number of new homes listed for sale has decreased slightly by 2%, totaling 373 homes. While this drop isn’t dramatic, it suggests that sellers may be taking a bit more time to list properties as we head deeper into winter. Buyers may need to be patient for new listings, but we anticipate more homes will come on the market in the coming weeks as the spring season approaches.

Homes Sold Up 31% To 538 Homes

A bright spot this week is the 31% increase in the number of homes sold, now at 538 homes. This surge suggests that buyer activity is picking up, with many people still eager to make a move. If you’re a seller, this uptick in sales is a positive sign, indicating that buyers are active, especially for well-priced properties.

Average List Value Down 3% to $393,353

The average list value has dipped by 3%, now sitting at $393,353. This decrease could be due to sellers adjusting their prices in response to market conditions, or it could be the result of more homes at lower price points being listed. For buyers, this could present an opportunity to find homes with more favorable pricing.

Average Sold Price Down 8% To $340,152

The average sold price has decreased by 8%, now at $340,152. This decline could reflect more affordable homes being sold, or it could simply be a result of price corrections in response to a changing market. While it may seem like a dip, it’s important to note that real estate prices can fluctuate based on many factors, and this is not unusual, especially during this transitional period in the market.

Price Reductions Up 1% To 354 Homes

Price reductions have increased slightly by 1%, bringing the total to 354 homes. This indicates that some sellers are making adjustments to stay competitive in the market. Buyers may find opportunities in these price-reduced listings, especially if a home has been on the market for a while and the price has been adjusted to attract more interest.

Homes Going Back on the Market Down 2%

The number of homes going back on the market has decreased by 2%, suggesting that fewer deals are falling through this week. This is a positive sign for both buyers and sellers, as it indicates a bit more stability in the market as people finalize their decisions. If you're considering a home that’s come back on the market, it's worth looking closely to see why it might be available again.

Pending Sales Up 25% To 440 Homes

Pending sales have increased significantly by 25%, now sitting at 440 homes. This is a strong indicator of ongoing buyer activity and suggests that people are starting to lock in deals ahead of the spring market. For sellers, this is encouraging, as it shows that the demand for homes is high, and many buyers are ready to act quickly.

Average Days on Market Up 7% To 47 Days

The average number of days on market has increased by 7%, now at 47 days. Homes are taking a bit longer to sell, which could be due to the slower start to the year or the fact that buyers are taking their time making decisions. If you’re a seller, this could mean that you might need to be patient with your listing, but the good news is that properties are still moving in the market.

What Does This Mean for You?

While this week’s numbers reflect a mix of trends, there’s a lot to be optimistic about. The increase in sales and pending contracts is a clear sign that buyer demand is picking up, even if prices have dipped slightly. If you’re a seller, this could be the right time to adjust your pricing and get in front of the rising buyer activity. For buyers, there are opportunities in the current market to negotiate and potentially find great deals, especially with price reductions and new listings coming up.