Kansas City Real Estate Market Trend: Homes Selling Fast

The Kansas City real estate market is strong, offering benefits for both buyers and sellers. For buyers, interest rates are at all-time lows, providing buyers significant savings on a loan. For sellers, our team is selling homes fast and sometimes for more than the asking price. If you’re thinking about buying or selling a Kansas City area home, act now while the real estate market is in your favor.

Selling Kansas City homes fast

If you’re a seller waiting to put your home on the market due to COVID-19 uncertainties, delaying may cost you. Now is the time to act. It was a busy spring, and it’s continuing this summer.

Take advantage of the demand from buyers. They’re eager to take advantage of amazingly low-interest rates. It’s competitive for buyers because there is limited inventory. This is a huge bonus for sellers who have less competition when selling.

If safety is a concern, we take a number of precautions to keep your family safe during and after showings. We ask that you turn on all lights and open doors before a showing. We also provide booties, require masks for buyers, and provide hand sanitizer.

Homes are selling so quickly, you don’t have to worry about showing your home for weeks at a time. When priced right, your home will sell quick. Plus, you’ll get multiple offers so you can get thousands over list price!

Our team stages homes as a complimentary service for all our sellers. So, when a buyer walks in they’re drawn to the home’s best features. It’s proven to get homes sold faster and for more money. Need an example? how about this home? We had 15 offers on it! That can be your house too.

We’re even experts in selling vacant homes! Check out our virtual home staging that gets your home to stand out online!

Why the KC market is hot for sellers

So, beside interest rates what makes 2020 one of the best times for sellers in Kansas City? The lack of inventory.

There’s still a shortage of inventory both with resale properties and in some cases new construction neighborhoods. Supply was down nearly 39-percent in the KC area in May and 44-percent in June, according to the Kansas City Regional Association of Realtors®.

During the Greater Kansas City Spring Parade of Homes, we sold a number of homes. Previously, new construction filled the gap on the resale market. New homes are still competition for your resale property, however, buyers may have to wait to get one whereas a resale property can be available in just 30 days. Some buyers need quick home sales, and resale properties get the upper hand in Kansas City market for that factor.

With less to choose from for buyers, homes sell quickly. Showings are up nationally, and also here in KC. It’s not uncommon for our team to have several showings in 24 hours, especially on homes under $200,000. Often, these showings happen before we even have photos back.

While our complimentary home staging will get your home show-ready, there are also a number of things you can do to make it picture-perfect. Get our step-by-step guide to getting your home ready to put on the market.

Homebuyer advantages

If you’re looking for a home, you have a great opportunity to save tens of thousands of dollars over the life of the loan. First, interest rates are at historic lows. We’ve been saying this for awhile, but they’ve dipped even lower.

In Missouri, most lenders are offering rates at or below 3.25%, according to the Consumer Financial Protection Bureau (CFPB).

By shopping around for a mortgage, you can ensure you get the best rate and save the most money.

Want to get a good estimate based on your down payment and home loan amount? Try this CFPB calculator to see how much interest you’ll pay on your loan and how a slight rate shift can impact your costs.

Second, prices are steady with barely a change year over year. That’s great for home buyers looking to make their dollars go further. The 12-month average is only up 5 percent for resale properties and about 2 percent for new construction. So, despite lower inventory prices are not soaring.

It is competitive due to lower inventory but teamed with a buyer’s agent who has your interests in mind, you can find the property you want with a competitive offer.

Courtesy: KCRAR

Kansas City new construction

New construction is still a great option if you can’t find what you like on the resale market. Our team works with several builders in neighborhoods through Grain Valley, Lee’s Summit, and Blue Springs.

New homes are selling quickly. In fact, there was a 20-percent drop in the number of days on the market in May which takes into account the increased activity. Don’t delay if you see a lot or home you like.

Look at this as an opportunity if you’re a buyer who wants to add customizations to a home. With homes just starting the construction phase, you can put the finishing touches on a home.

You can browse all our neighborhoods to see the homes that are available. Call for the latest lot options as they change frequently. These are the custom home builders we work with and their floor plans.