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

Posted by Kansas City Homes on Monday, September 14th, 2020 at 10:15am.

Kansas City Metro Area Real Estate Stats - August 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)

The housing and stock markets continue to be the leaders in the economy. In August, showings and pending sales remained at strong levels while housing inventory remained limited, continuing the competitive bidding market we have seen in recent months. With the stock indexes at or near record highs as mortgage rates remain near record lows, signs point to a busy fall housing market.

As we look towards the fall, we normally see housing activity begin to slow a bit as the back-to-school season begins, but this year is far from normal. While uncertainty remains on what effects the upcoming elections and any seasonal resurgence of COVID-19 may have on the financial and housing markets, the healthy housing demand we see today will create significant tailwinds in the near term.

 

Kansas City Metro Area Real Estate Stats - August 2020 | Existing Homes

Existing Homes Overview

  • Closed sales decreased 3.9% to 3,704
  • Pending sales increased 23.5% to 4,216
  • Average sale price increased 11.6% to $266,093
  • Median sales price increased 11.1% to $235,000
  • Percent of original price received increased 2.5% to 99.2%
  • Days on market decreased 20.6% to 27
  • Inventory decreased 53.2% to 3,396
  • Supply decreased 54.2% to 1.1

 

Kansas City Metro Area Real Estate Stats - August 2020  | New Homes

 

New Homes Overview

  • Closed sales increased 19.8% to 424
  • Pending sales increased 56.6% to 523
  • Average sales price increased 4.2% to $445,749
  • Median sales price increased 8.2% to $394,960
  • Percent of original price received increased 1.1% to 101.6%
  • Days on market increased 2.8% to 146
  • Inventory decreased 39.7% to 1,144
  • Supply decreased 45.9% to 3.3

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

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