August at a Glance

KCRARIf you have been contemplating a move, now may be the right time! According to the regional market report just released by the Kansas City Regional Association of REALTORS for August 2014, inventory is still low in our market. In fact, the inventory of combined new and existing homes last month was 12,544 – that’s 2% lower than it was the same time last year!

I can say that I am experiencing this with buyers I am working with. While inventory was low throughout the summer, we still continued to see new listings coming on the market. However, more recently it seems the number of new listings has slowed down, providing fewer new-to-market homes to tour. What does this mean for you? If you have a home to sell, the market conditions make it an appealing time to list!

If you have been on the fence about listing your home, give me a call at (913) 980-2434. I would be happy to meet with you and share a comprehensive market report of your area and provide a marketing plan to get your home on the market as soon as possible.

Other highlights from the August 2014 report include:

  • Combined home sales (new and existing) totaled 2,805 homes sold – this was 5% lower than August last year
  • $200,073 was the average sales price for new and existing homes combined – a 4.4% increase over August 2013
  • Supply for combined new and existing homes was 5.2 months ­– this is slightly lower than 5.4 months in August 2013, and represents a balanced combined home market