Thinking of selling a home? The summer is a great time, as many families are thinking ahead to the school year and making decisions before school starts again. The average sales price in the Kansas City area continues to climb.
June Kansas City Market Report
The Kansas City real estate market is strong, with the average sales price up 5-percent in June according to the Kansas City Regional Association of Realtors. Plus, sellers are getting 98-percent of their original list price.
For sellers, there really hasn’t been a better time to sell!
Buyers are still dealing with low resale inventory, but experienced real estate agents can find you the home you want! Also, new construction is a great option to get what you want in a home. There’s more inventory for new construction than resale, plus there are lots of other benefits.
Here’s a quick snapshot of the market, for new construction and resale properties.
Now, let’s get into some of the trends for buyers and sellers based on the type of property.
Selling your home in the KC area
Homes aren’t staying on the market long. The number of days on the market decreased by 15-percent locally, and it’s likely because supply decreased nearly 9-percent. That means there’s more competition for the available homes, which is great news for sellers. Some are still getting offers above asking price. The average resale home only sits on the market for 34 days, according to the latest report from the Kansas City Regional Association of Realtors®.
Low inventory is one of 5 reasons now the perfect time to sell your home. While some sellers are worried they won’t be able to find another home to live in when you work with an experienced real estate agent, you’ll find the perfect option for you. Our team understands your concerns, but we can find you a home! Plus, odds are waiting will cost you money as a buyer and a seller.
What's Your Home Value? Find Out For Free!
The Sally Moore Real Estate Team makes selling easy, with FREE home staging in the Kansas City area. This ensures you get top dollar for your property, and that it sells quickly. These before and after pictures show the difference staging makes, so your home sells!
How buyers find a home in a seller’s market
Buyers are watching interest rates closely. While 30-year mortgage rates didn’t go up, the Fed is making moves that could impact rates later in the year. So, if you’re looking to buy, it’s a great time to lock in a rate assuming they’ll go up soon.
There’s a fair amount of competition for homes in the summer, especially in high performing school districts. Families like to move before school is back in session. This includes families moving to the Kansas City area, and those looking for a new district or a bigger or smaller home.
If you’re looking in a specific school district, our home search makes it easy to find the home in the district you want. These are the latest homes for sale in the Lee’s Summit School District, Grain Valley School District, and Blue Springs School District. All three provide a top-notch education with a wide selection of educational and extracurricular choices for students.
If you’re a buyer and haven’t been able to find the resale home you’re looking for, we’re making it easy to stay up to date when new properties hit the market. First, you can sign up for email alerts or look at our list of affordable homes for first-time homebuyers.
The average sales price in Jackson County was $202,199 in June. That’s up about 4-percent from last year.
While budgeting is important when you’re making a home purchase, you don’t need a 20-percent downpayment. In fact, waiting will likely cost you as interest rates will likely go up. You can buy now with a downpayment assistance program. There are many options available in the Kansas City area, with a variety of qualifications. See all the options for downpayment assistance in Kansas City.
How To Get Down Payment Assistance in Kansas City
Grain Valley and Blue Springs new construction
If you can’t find what you’re looking for on the resale market, new construction is the perfect answer. Supply remained flat for new construction homes, but it’s still at healthy levels. Plus, new home inventory may go up, even more, giving buyers more options.
You don’t have to build from the ground up. There’s new construction inventory available for buyers, allowing you to move into a new home within 30 days. You can also choose a home that allows you to put the finishing touches on it, or build a custom home from the start.
Our team has options for you in Rosewood Hills, Sonora Valley, and Stone Canyon. We’re new construction experts. Our experience working with builders and buyers, and our certifications in home staging allow us to help buyers throughout the new construction process. Say goodbye to overwhelm! We’ll help you envision your new home with ease!
Interested in how the market changed this year. Read previous Kansas City market reports.