The 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!