The Market Conditions:
As you can see, closed sales are down 10.6% year to date. Our days on the market have increased slightly to 17 days in the month of Aug. Year-to-date, the average days on the market during 2022 has been 17 days. We have little over a month supply of homes available overall! We have some of the lowest levels of home inventory! Talk with us about target marketing! Target Marketing is the key to selling your home for the most value!
Interest Rates have been fickle with the concerns of inflation & the stock market etc. They are still at very affordable rates. We all want the lowest rate, but today with inflation, the Fed's have been increasing interest rates every 60 days. At the end of Sept, the Feds meet again and most likely will increase the interest rates. So the best time is to lock in today! They are in the low 6's-mid 6.5% range depending on many factors such as down payment, credit scores, financing programs, and more! Keep in mind that interest rates can change daily if not hourly! Best to keep in contact with us regularly!
Know The Market Tip:
We're still in a seller's market: We're not selling at a frenzy. You can sell your home for a good value price and enjoy a nice profits!
In a buyers market: When the market is cooling off, then you might miss out on potential buyers by pricing your home too high.
State of the Market
Homes Sales Report for Johnson County KS
2022 home prices were consistently up in most markets across the community. Interest rates have increased for the summer/fall market and, overall, the average home prices have increased by 13.5% YTD! Homes are selling at a slower pace. The values are still good. Take advantage of knowing the market conditions! We're still seeing offers - just not 20+ offers. We're seeing 2-3 offers in general in a week vs hours!
The Reality of the Shift of Today's Market...
The reality is we’re seeing an inflection point in housing supply and demand. According to realtor.com, active listings have increased more than 26% over last year, while showings from the latest ShowingTime Showing Index have decreased.
Home Price Deceleration doesn't mean Home Depreciation...
You've heard that home prices have skyrocketed over the last 2 yrs. Actually they were appreciation long before that. You might be surprised they actually climbed for 122 consecutive months!
Work with a Local Expert
When you work with the CindyD Team, you won't have to worry about knowing the ins and outs of the Kansas City real estate market on your own—we've got you covered. We'll use our years of local experience and professional expertise to analyze market trends, complete neighborhood sold reports, and ultimately help you buy or sell your home at an ideal price. If you're ready to take your next steps, don't hesitate to give us a call!
Make Your Kansas City Move Today
It pays to team up with a top-rated agent when you're buying or selling a home in Kansas City, and we'd love to help you navigate every step of the process. Whether you need us to calculate a detailed and accurate listing price for your home, schedule some showings, or just answer a few questions, you can trust the CindyD Team to get the job done right. Feel free to give us a call to get started, or fill out the form below for more information. We're dedicated to helping you craft a stress-free real estate experience from start to finish!