kansas city real estate market | Bradshaw GroupBradshaw Group

Category: kansas city real estate market (7)

Oct

September Stats: Good News for Sellers!

With inventory down and sales prices up, this can be a great time to sell your home in Kansas City! According to a September 2014 report from the Kansas City Regional Association of REALTORS, the inventory of combined new and existing homes last month was 12,228 – that’s 4% lower than it was in September 2013! And the average sales price for new and existing homes combined was $192,335, representing a 4.8% increase over the same time last year.

Both of these can be good news for sellers! If you are considering selling your home, call me at (913) 980-2434. I can pull a comprehensive market report for your area to help determine an effective selling plan for your home. From getting your home in the best condition for marketing, to working with a professional stager and photographer, I have the resources to list your home quickly and support it with a variety of marketing tools.

Other highlights from the September 2014 report include:

Combined home sales (new and existing) totaled 2,477 homes sold – this was 2% lower than September last year
Supply for combined new and existing homes was 5.1 months – this is slightly lower than 5.3 months in September 2013, and represents a balanced combined home market

Sep

August at a Glance

If 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

Jun

KC Real Estate Snapshot: May 2014

If house-hunting is on your list for the weekend, take a quick look at the most-recent market report from the Kansas City Regional Association of Realtors before you head out. This market overview can provide you with a good sense of the residential real estate market around the metropolitan area. Here are a few highlights from the May 2014 report:

The average sale price for new and existing homes (combined) in May 2014 was $197,838. This represents an increase of 3.5% over the same time last year.
Combined home sales totaled 3,135 (2,863 existing/272 new) in May 2014. This is 1% higher than May 2013.
Inventory of combined homes in May 2014 was 12,802 – nearly the same as May 2013, when inventory was 12,847.

The bullets above cover the broader group of combined home (new and existing) statistics. If you’re interested in learning about existing home or new home figures separately, the report provides that as well.

A Balanced Market

The supply for combined new and existing homes in May 2014 was 5.3 months. This represents a balanced combined home market. This calculation is determined by taking the inventory and dividing it by the 12 month average of the number of sales. In general, when this figure falls between 5 months and 6 months, it equates to a balanced market. When it exceeds 6 months, the market favors buyers; and when it is under 5 months, it tends to favor sellers.

If you would like market data on a neighborhood you are interested in, or on your current neighborhood to help determine a listing price for your home, give me a call at (913) 980-2434 – I would love to help you!

Image Credit: Kansas City Regional Association of Realtors

Mar

February Sales Prices Up!

Last week I received a copy of the February 2014 Kansas City Housing Market Report from the Kansas City Regional Association of REALTORS and Heartland Multiple Listing Service. Sellers (and potential sellers), this report had some good news for you!! Last month the average sales price for new and existing homes combined was $167,496 – this is 3% higher than the same time last year!

With spring approaching and new listings hitting the market, February was a busy month for our team. We booked more than $3M in sales in February 2014!

February by the Numbers

While there were approximately the same number of home sales around Kansas City last month (1,629 in 2014; 1,622 in 2013), home inventory is still down in our market. It was down 4% compared to February 2013.

For February 2014, the supply of new and existing homes was 4.5 months. This is lower than February 2013 (5.1 months) and represents a seller’s combined home market.

Make Your Move

We are now entering what is traditionally the busiest time of year for residential real estate in the Kansas City area. If you have been on the fence about buying or selling, this is a great time to make that move! Though rates have increased over the past year, they are still historically low, and predicted to continue to rise.

Give me a call at (913) 980-2434 if you’re ready to sell or buy. I can put a plan together for you to get the process underway quickly! Thanks!

Jan

December Prices Up 9%

The KC real estate market had a strong end of the year. According to a recent report from The Kansas City Regional Association of REALTORS & Heartland MLS, prices were up about 9% from December 2012 to December 2013, with the average price for an existing home sale at $172,976. The average new home price in December 2013 was $357,330.

Consistent with recent months, inventory was low at the close of the year. The inventory of combined new and existing homes represented about a 4% decrease from the same time last year. Supply for new and existing homes in December 2013 was 4.3 months, representing a seller’s combined home market.

While December is traditionally a slower month for real estate because of the holidays, we still saw some growth in sales in the Kansas City market. Combined home sales (new and existing) for December 2013 totaled 2,064. This was 1% higher than December 2012.

If you are considering a move but want to learn more about the area where you plan to sell or want to buy, give me a call at (913) 980-2434. I would be happy to pull comparative market data and discuss a plan for listing and/or buying!