Kansas City Area Real Estate Stats - April 2020 | Kansas City Homes

Posted by Kansas City Homes on Tuesday, May 12th, 2020 at 12:42pm.

Kansas City Metro Area Real Estate Stats - April 2020 | Kansas City Homes

Local market updates from Kansas City Regional Association of Realtors (KCRAR) provide a closer look at the current market conditions in the Kansas City metro area. Whether you're a buyer or seller, visit Better Homes and Gardens Real Estate Kansas City Homes' Better Living Blog each month to stay updated on the latest home sale trends.

Monthly Indicator Analysis from Kansas City Regional Association of Realtors (KCRAR)

While the stock market recovered significantly in March, the effects of COVID-19 to the economy continue to build. In just the last four weeks, more than 20 million people filed initial unemployment claims according to the United States Department of Labor, fueled by stay-at-home orders and a slowdown of economic activity across the country. Added to the unemployment claims from March, more than 30 million people have become unemployed since COVID-19 has become widespread in the U.S. In the face of these challenging times, real estate activity in April slowed significantly.

While the effect of COVID-19 continues to vary widely across the country, it is expected that social distancing, higher unemployment, and lower overall economic activity is likely to continue to constrain real estate activity in the near term. At the same time, the industry is adapting to the current environment by conducting business using technologies such as virtual showings and e-signing to help buyers and sellers with their housing needs in the face of these challenges.

 

Kansas City Metro Area Real Estate Stats - April 2020 | Resale

Existing Homes Overview

  • Closed sales decreased 7.3% to 2,738
  • Pending sales decreased 19.3% to 3,072
  • Average sale price increased 2.9% to $238,305
  • Median sales price increased 7.5% to $215,000
  • Percent of original price received increased 0.6% to 98.0%
  • Days on market decreased 20.9% to 34
  • Inventory decreased 31.8% to 4,135
  • Supply decreased 30.0% to 1.4

 

Kansas City Metro Area Real Estate Stats - April 2020 | New Construction

 

New Homes Overview

  • Closed sales increased 3.0% to 376
  • Pending sales decreased 24.9% to 317
  • Average sales price increased 3.1% to $409,318
  • Median sales price increased 2.8% to $369,925
  • Percent of original price received increased 0.4% to 101.1%
  • Days on market increased 10.0% to 165
  • Inventory decreased 19.7% to 1,617
  • Supply decreased 20.6% to 5.0

Report provided by Kansas City Regional Association of REALTORS®. All data from Heartland Multiple Listing Service.

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