Homes on the market in the Kansas City metro area are selling for an average of 99.2 percent of the original list price. That’s a 0.2 percent increase from November 2020. Days on the market decreased to only 24 days—compared to 34 days just one short year ago. Supply from the same time last year decreased: 38.5 percent for existing homes, and 6.5 percent for new homes, for an average of 28.6 percent.

With that said, there are many more homes available than there were in early spring. The total number of homes on the market increased from 2,515 in March, to 3,499 homes in June, with the November home inventory standing at 3,959. This is still only a 1.0-month supply of homes on the market, but we are seeing inventory and supply gradually gain more ground.

 

 

The majority of the Kansas City metro is still in a seller’s market, but not all areas are alike. Exact data varies from county to county, and for different home prices. Always consult with your agent for personalized information! Email Miles Rost or Nicole Laufenberg with questions about the market in your current or future neighborhood. You can also call us at 913-451-4888.

 

NATIONAL NEWS

The economy is improving, unemployment is falling, and the U.S. real estate market remains strong as we head into the holiday season, a period when activity typically slows as people take time to travel, celebrate, and spend time with loved ones. Although the market is not as frenetic as was seen earlier this year, buyer demand is high, bolstered by attractive mortgage rates and a low supply of inventory.

The most recent data from the National Association of REALTORS® reports the median single-family existing home sales price rose 16% in the third quarter of this year to $363,700, with all four regions of the country experiencing double-digit price growth. In new construction, builder confidence increased in November, surpassing analyst expectations and rising to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), the highest level since spring, despite persistent labor and supply chain challenges and a shortage of available lots.

 

All stats and information courtesy of KCRAR – the Kansas City Regional Association of Realtors®.