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

Posted by Kansas City Homes on Thursday, December 10th, 2020 at 2:46pm.

Kansas City Metro Area Real Estate Stats - November 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)

November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.

 

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

Existing Homes Overview

  • Closed sales increased 15.0% to 3,128
  • Pending sales increased 20.4% to 2,956
  • Average sale price increased 18.2% to $269,480
  • Median sales price increased 15.6% to $230,000
  • Percent of original price received increased 2.8% to 98.6%
  • Days on market decreased 37.5% to 25
  • Inventory decreased 52.1% to 3,136
  • Supply decreased 54.5% to 1.0

 

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

 

New Homes Overview

  • Closed sales increased 33.3% to 356
  • Pending sales increased 25.1% to 329
  • Average sales price increased 2.5% to $461,534
  • Median sales price increased 8.6% to $402,950
  • Percent of original price received increased 1.2% to 102.0%
  • Days on market decreased 16.7% to 100
  • Inventory decreased 44.3% to 1,114
  • Supply decreased 53.8% to 3.0

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

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