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.
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
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.