Category: selling a home (18)

KCRARThe KC real estate market has been strong all summer long. July was no exception. According to a report I recently received from the Kansas City Regional Association of REALTORS & Heartland Multiple Listing Service, prices were up about 14% from July 2012 to July 2013, with the average price for an existing home at $184,000.

In keeping with the trend of recent months, inventory remained relatively low – down approximately 7% from the same time last year. Existing home inventory decreased just a bit from 5.7 months to 5.6 months, while new home inventory inched up from 4.9 months to 5 months.

Sales were up approximately 18%, year over year, and pending sales were up 10%.

If you want to learn more about our area real estate market, or discuss the right time for you to list or buy, give me a call any time at (913) 980-2434!

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.

Reece and Nichols Kansas City

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!

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Trends in OP

If you’re getting ready to buy or sell in Overland Park, check out the most-recent market trend summary from Reece & Nichols first! According to this report, inventory has been lightening lately, and the market is at a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep the area in the seller’s market zone. If the market heats up, prices are likely to resume an upward climb.

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Maintenance-free living. Sound tempting to you? Check out this great Overland Park townhome listing at 9920 W. 88th Street! This 3-bedroom, 2.1-bathroom home is move-in ready. The master bedroom features a private bathroom and walk-in closet, and the huge finished basement is perfect for entertaining. It also has potential for a 4th bedroom in the basement with an egress window! Enjoy the outdoor patio for BBQ fun!

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Give me a call at (913) 980-2434 to see it in person, and stay tuned for another OP listing coming soon!

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If you’re following the KC real estate market, you know it’s showing consistent signs of improvement. As further evidence, this week I received the February Kansas City Housing Market Report from the Kansas Regional Association of REALTORS and Heartland Multiple Listing Service. Highlights from the data include:

  • February 2013 average sales price for new and existing homes combined was 11.5% higher than February 2012.
  • There were 1,622 homes sales (new and existing combined) for February 2013 – just slightly lower than February 2012 (1,636).
  • Home inventory (new and existing combined) for February 2013 was down 16% compared to February 2012.
  • Pending sales for new and existing homes combined were 5% lower for February 2013 vs. February 2012.
  • The supply of new and existing homes for February 2013 was 5.1 months; nearly 2 months lower than February 2012. A 5.1 month supply is leaning toward favoring a seller’s market.

With all of this in mind, if you’re considering selling your home, now might be a great time to list! If you would like to discuss more, please give me a call any time at (913) 980-2434.

Sprint-Center-Night_RNAs I’ve mentioned in recent posts, the Kansas City metropolitan area is experiencing renewed market conditions. According to an email I received last week from Cunningham Appraisal LLC, the average sale price increased 2% through 2012, and residential inventory levels (new and existing homes) represent a 14.2% decrease from 2011. The historically low mortgage rates have created a favorable buying environment for those with a job and good credit.

The company also provided a few key points to capture our market at a glance:

• Economic climate average-improving
• New construction increasing
• REO activity improving
• Supply balance
• Demand improving
• Market direction improving
• Market mood improving

So what does all this mean? According to Cunningham Appraisal, it is anticipated that KC will remain a buyer’s market for the foreseeable future. The low prices are attracting more buyers – including investors. Moreover, the company notes the key ingredient to this market recovery will be job growth.

In my role as a realtor, I’m seeing signs of these changes all the time. Like I wrote about last week, I’ve been extremely busy on the buying side lately, as many of my clients are taking advantage of low rates to help them make their next real estate investment.

If you want to discuss when might be the best time for you to buy or sell, or you just want to gain more insight to the market conditions, please give me a call. You can reach me anytime at (913) 980-2434.

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 Data last updated: 09/23/2020, 3:22:02 AM

 

The information displayed on this page is confidential, proprietary, and copyrighted information of Heartland Multiple Listing Service, Inc. ("Heartland MLS"). © 2020, Heartland Multiple Listing Service, Inc. Heartland MLS and Reece Nichols Overland Park do not make any warranty or representation concerning the timeliness or accuracy of the information displayed herein. In consideration for the receipt of the information on this page, the recipient agrees to use the information solely for the private non-commercial purpose of identifying a property in which the recipient has a good faith interest in acquiring. The data relating to real estate displayed on this website comes in part from the Heartland Multiple Listing Service, Inc. database compilation. The properties displayed on this website may not be all of the properties in the Heartland Multiple Listing Service, Inc. database compilation, or all of the properties listed with other brokers participating in the Heartland Multiple Listing Service, Inc. IDX program. Detailed information about the properties displayed on this website includes the name of the listing company. Data last updated 09/23/2020.

 


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