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 much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers.
While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.
Existing Homes Overview
Closed sales decreased 5.3% to 3,699
Pending sales increased 15.3% to 4,293
Average sale price increased 5.1% to $258,017
Median sales price increased 4.6% to $230,000
Percent of original price received increased 0.7% to 98.5%
Days on market increased 3.2% to 32
Inventory decreased 48.4% to 3,553
Supply decreased 47.8% to 1.2
New Homes Overview
Closed sales decreased 17.7% to 446
Pending sales increased 72.2% to 520
Average sales price increased 3.5% to $427,961
Median sales price increased 6.8% to $390,000
Percent of original price received decreased 0.3% to 100.8%
Days on market decreased 2.5% to 153
Inventory decreased 29.9% to 1,357
Supply decreased 32.3% to 4.2
Report provided by Kansas City Regional Association of REALTORS®. All data from Heartland Multiple Listing Service.