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

Posted by Kansas City Homes on Monday, March 16th, 2020 at 4:33pm.

Kansas City Metro Area Real Estate Stats - January 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)

As we progressed through February, the actual and expected impacts of COVID-19 continued to grow, with concerns of economic impact reaching the stock market in the last week of the month. As the stock market declined, so did mortgage rates, offering a bad news-good news situation. While short term declines in the stock market can sting, borrowers who lock in today’s low rates will benefit significantly in the long term.

The recently released January ShowingTime Showing Index® saw a 20.2 percent year-over-year increase in showing traffic nationwide. All regions of the country were up double digits from the year before, with the Midwest Region up 15.7 percent and the West Region up 34.1 percent. As showing activity is a leading indicator for future home sales, the 2020 housing market is off to a strong start, though it will be important to watch the spread of COVID19 and its potential impacts to the overall economy in the coming months.

 

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

Resale Homes Overview

  • Closed sales increased 2.9% to 2,010
  • Pending sales increased 17.3% to 2,854
  • Average sale price increased 6.2% to $220,018
  • Median sales price increased 11.2% to $199,250
  • Percent of original price decreased 0.1% to 95.3%
  • Days on market remained flat at 52
  • Inventory decreased 22.2% to 4,292
  • Supply decreased 22.2% to 1.4

 

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

 

New Construction Overview

  • Closed sales increased 3.5% to 239
  • Pending sales increased 59.7% to 471
  • Average sales price increased 2.2% to $400,767
  • Median sales price increased 0.9% to $370,000
  • Percent of original price received decreased 0.5% to 100.5%
  • Days on market increased 4.9% to 149
  • Inventory decreased 19.9% to 1,703
  • Supply decreased 15.6% to 5.4

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

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