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Today I have a very special guest with me: my son Landon. It's bring your kid to work day, and he's going to help me to explain what's happening in the KC real estate market.
We're currently seeing a seller's market, and this is a drastic change from the buyer's market that we were seeing before. Throughout the city we're seeing 3-4 months of inventory, but in some areas inventory has fallen to 1-2 months of inventory. This means there is a drastic shortage of homes for sale in Kansas City.
Home sales are also up by 9%, which is a good sign of market recovery. Closed sales are up by 9% as well and the average sales price also increased by 9%, and it now sits at $171,000.
More exciting news is that the average days on market has dropped to 86 days. Our team's average days on market is only 15 days this year!
The average list-to-sale price in KC is at 92.9%, but our team's average is sitting at 99.7%, so we can get you more money for your home when you go to sell!
If you're looking to sell in Kansas City, now is the time to do so! Please contact me if you need assistance.
