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March Housing Trends

Inventory in Kansas City is severely low and prices are up, that means a well priced property will almost always sell quickly.  If you are thinking about selling your home, your flip property or a rental property, give me a call.  

Existing-Home Sales Slip 3.2 Percent in January
WASHINGTON (February 21, 2018) – Existing-home sales slumped for the second consecutive month in January and experienced their largest decline on an annual basis in over three years, according to the National Association of Realtors®. All major regions saw monthly and annual sales declines last month. Read more 

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A severe housing shortage, sky-high home prices, and equally towering costs of living in the priciest cities are pushing wannabe home buyers to seek out smaller, more affordable metro markets around the nation.Read more

  

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National housing indicators from January

Existing home sales 

5.38 millions units*

Existing home median price 

$240,500

Housing Starts

1.326 millions units*

New home sales

0.625 millions units*

National economic indicators

Home ownership

4th Quarter 2017

64.2%

3rd Quarter 2017

63.3%

The homeownership rate of 64.2 percent was not statistically different from the rates in the fourth quarter 2016 (63.7 percent) or the third quarter 2017 (63.9 percent).

New home sales

Sales of new single-family houses in January 2018 were at a seasonally adjusted annual rate of 593,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.8 percent (±19.0 percent)* below the revised December rate of 643,000 and is 1.0 percent (±16.4 percent)* below the January 2017 estimate of 599,000

Availalbe

8013 Virginia - KCMO – Rental


Just Sold 

3420 Queen Ridge Dr, Indep
6608 E 136th St, Grandview
2216 N 82nd Tr, KCK



Pending  

3756 N Lister Ave, KCMO
11014 Newton, KCMO


Regional markets 

MO – Columbia Area
MO – Kansas City Region

MO – Springfield Region
MO – St. Louis Region




Local Board Statistics

The three most prominent national market trends for residential real estate are the ongoing lack of abundant inventory, the steadily upward movement of home prices and year-over-year declines in home sales. Sales declines are a natural result of there being fewer homes for sale, but higher prices often indicate higher demand leading to competitive bidding. Markets are poised for increased supply, so there is hope that more sellers will take advantage of what appears to be a ready and willing buyer base.


February Stats



Average Sale Price $198,852
Median Sale Price $173,000
Average Days on Market 5
Months Supply 
 
 Visit KCRAR Reports 



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