Closed Sales increased 2.4 percent for existing homes and 9.6 percent for new homes. Pending Sales decreased 6.7 percent for existing homes but increased 2.0 percent for new homes. Inventory increased 16.2 percent for existing homes but decreased 14.9 percent for new homes. 

The Median Sales Price was up 11.7 percent to $279,900 for existing homes but decreased 9.0 percent to $482,068 for new homes. Days on Market increased 15.8 percent for existing homes but decreased 28.0 percent for new homes. Supply increased 13.3 percent for existing homes but increased 13.1 percent for new homes.

 

 

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. There are now some price points and/or areas that are coming into a balanced or buyer’s market. 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

U.S. existing-home sales advanced for the third straight month, climbing 2.2% to a seasonally adjusted annual rate of 4.24 million units, a 10-month high, according to the National Association of REALTORS® (NAR). Sales were up 9.3% year-over-year, driven largely by purchases of homes priced $500,000 and above. Month-over-month, sales rose in the South, Northeast, and the West but fell in the Midwest, with all four regions reporting year-over-year gains.

According to NAR, total housing inventory was 1.15 million units heading into January, a 13.5% decrease from the previous month but a 16.2% increase from the same period one year earlier, for a 3.3-month supply at the current sales pace. Housing supply remains down compared to pre-pandemic levels, and the limited number of homes on the market continues to push sales prices higher nationwide, with the median existing-home price rising 6% year-over-year to $404,400.

In the Kansas City metro area, the year-to-date average home sales price is $347,583, and the median is $295,000, which hits well below the current national median of $404,400, keeping homeownership affordable in Kansas City!

 

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