Articles about the current real estate market.

Q2 Real Estate Market Stats for Kansas City

The second quarter real estate market stats for Kansas City and the surrounding areas is now available.  Brought to you by the Kansas City Regional Association of Realtors and the Heartland Multiple Listing Services.

Like most of the country, Kansas City real estate values are increasing across the board.  Inventory is down and prices are up!

Here is a quick rundown of your 2015 second quarter real estate market stats for Kansas City:

 

Q2 Pending Sales for The Kansas City Real Estate Market

  • Current pending sales are at 11,753
  • 14.5% increase over Q2 2014

Q2 Active Listing Inventory for the Kansas City Real Estate Market

  • 10.791 currently listed For Sale
  • 21.2% decrease over Q2 2014

Q2 Housing Supply for the Kansas City Real Estate Market

  • 3.8 Month Supply
  • 25.5% decrease over Q2 2014

Q2 Closed Sales for the Kansas City Real Estate Market

  • Current closed sales are at 10,788
  • 10.7% increase over Q2 2014

Q2 Median Sales Price for the Kansas City Real Estate Market

  • Median sales price of $176,500
  • 7.0% increase over Q2 2014

To summarize these results, the real estate market is RED HOT in Kansas City!  Inventory is down, prices are up, and interest rates are still low.  If you have been thinking about selling your home, now is the time.

Talk to an Arrow Realty agent and find out what we can do to help you buy or sell your next home.

Call us now at 816-956-5003 or email us at info@arrowrealtykc.com

CoreLogic Report Shows Huge Growth In Nationwide Real Estate Market In May

CoreLogic released their Price Index Report this week and it showed that the nationwide Real Estate market saw huge growth during the month of May and 6.3 percent, year-over-year growth from the same period last year.

What are the leading factors we can thank for the booming Real Estate market? Some of the factors include: low unemployment nationwide, high demand for homes, low inventory and best of all, low mortgage interest rates which have hovered between 4 and 4.5 percent all year.

More Growth Predicted This Summer

One of the great things about the CoreLogic report is that they predict more month-over-month growth in the Real Estate market during the coming months.

In a recent interview with housingwire.com Frank Nothaft, Chief Economist with CoreLogic said this about their housing data: “Mortgage rates on 30-year fixed-rate loans remained below 4% through May, helping to fuel home-purchase activity, our homes-for-sale listing data shows that markets with high demand and limited supply, such as San Francisco, are recording double-digit appreciation rates over the past year.”

After the July 4th holiday we typically see more families coming back from their vacations and if they are planning on buying or selling a home the next 30 to 60 days will typically be a busy time in the Real Estate word as many people will either be buying or selling homes.

New Construction Increases By 23 Percent

Besides the good news about the Real Estate market, the CoreLogic report also shows us that new construction has also increased nationwide by 23 percent in the last 12 months.

Yes new construction is great but it’s also fabulous for the Real Estate market because it helps to increase inventory and newer homes on the market will draw out homeowners who have been thinking about selling their existing homes so they can move up to new homes.

“With the unemployment rate at a low of 4.3 percent and mortgage rates remaining at present affordable levels, we expect the housing market to continue to be strong into the coming months.” – Frank Nothaft – CoreLogic

Now Is A Great Time To Buy A Home

If you plan on buying a Kansas City Home now is a great time to make your move because, you will find more homes for sale during this time of year, eager sellers and great mortgage interest rates that you don’t want to miss out on.

Before heading out to search for homes make sure you do the following:

  1. Define what you’re searching for in a home like: square footage, location, bedrooms and bathrooms.
  2. Get pre-approved for a mortgage loan.
  3. Hire a great Kansas City Realtor
  4. Be ready to start searching for homes as soon as they come to market because, some listings may go quickly.
  5. Use creativity if you face multiple offers by offering something in return to the seller like: 60 days free rent back or some other incentive for them to consider your offer.

Contact Us

To get started with buying a Kansas City home EMAIL US today or call (816) 956-5003.