It’s hard to believe it’s August already! It’s been a busy summer so far and a busy time for the real estate market. This past week I received a report on the Kansas City Real Estate Market from Cunningham Appraisal LLC on the first half of 2013.
As you have either experienced firsthand or likely heard in the media, Kansas City is experiencing renewed market conditions. According to this report, the average sale price increased 7.7% compared with the first half of 2012. Additionally, residential total sales levels (new and existing homes) represent a 6.6% increase from the first half of 2012. The monthly supply of homes at 4.7 months represents a buyer’s market for combined new and existing homes.
While traditionally the market begins to slow down a bit this time of year with people taking end-of-summer vacations and families getting ready for back-to-school season, we are still seeing activity on the buying and selling side. According to Heartland MLS, inventory was down 10% in June 2013 over June 2012. So, if you’re in an area that is high-demand and low-inventory, this could still be a good time to consider listing if you know you want to move in the near future. If you have questions about the market in your neighborhood, I would be happy to help – just give me a call!