Inventory Down, Prices Up

According to the March Kansas City Housing Market Report from the Kansas Regional Association of REALTORS and Heartland Multiple Listing Service, home inventory for March was down 16% from March 2012! Other highlights from the data include:

• March 2013 average sales price for new and existing homes combined was 5.7% higher than March 2012.
• There were 2,324 homes sales (new and existing combined) for March 2013 – 8% higher than March 2012.
• Pending sales for new and existing homes combined were only 1% lower for March 2013 vs. March 2012.
• The supply of new and existing homes for March 2013 was 5.3 months; nearly 2 months lower than March 2012. A 5.3 month supply represents the lower end of a balanced market.

For those of you contemplating a move, this might be the right time to sell. I’d be happy to discuss a marketing plan with you – just call me at (913) 980-2434 to schedule a time.

Fairway Front

And if you happen to be looking for a home in the Fairway area, check out this great listing! We’ll be holding an open house Sunday (April 28) from 1 to 3 p.m., if you want to swing by and take a look in person … it’s supposed to be sunny and in the 70s by then. Perfect weather for house hunting!