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

Posted by Kansas City Homes on Monday, June 22nd, 2020 at 1:22pm.

Kansas City Metro Area Real Estate Stats - May 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)

While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country. According to Freddie Mac, mortgage rates have been below 3.3 percent for more than four weeks and are hovering near all-time lows, spurring strong interest by buyers and lifting showing activity up 4% nationally versus a year ago in the final week of May.

Buyers have been quicker to return to the housing market in force than sellers, who have been showing a bit more reluctance to list their homes than is typical for this time of year. But trends are improving and as states and localities continue to moderate their COVID-19 policies, real estate activity is expected to continue to improve in the coming weeks.

 

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

Existing Homes Overview

  • Closed sales decreased 24.1% to 2,923
  • Pending sales increased 5.6% to 4,084
  • Average sale price increased 0.1% to $240,699
  • Median sales price remained flat at $215,000
  • Percent of original price received remained flat at 98.0%
  • Days on market decreased 2.9% to 33
  • Inventory decreased 39.9% to 3,956
  • Supply decreased 40.9% to 1.3

 

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

 

New Homes Overview

  • Closed sales decreased 12.9% to 364
  • Pending sales increased 24.2% to 482
  • Average sales price remained flat at $401,071
  • Median sales price decreased 1.1% to $364,448
  • Percent of original price received increased 0.4% to 101.1%
  • Days on market decreased 20.3% to 141
  • Inventory decreased 24.8% to 1,469
  • Supply decreased 24.6% to 4.6

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

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