HANDS ON THE HEARTLAND: Checking The Pulse Of The Kansas City Real Estate Market

Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market

Real Estate Info for The City of Kansas City
Southwest Kansas City covering zip codes 64114, 64131, 64145 & 64146

Recent 15 Days of Southwest Kansas City Market Activity

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

Kansas City Real Estate

Using the past 15 days of market stats in the above chart, the absorption rate in southwest Kansas City figures to 16.1 months of inventory on the market. There’s just no good way to spin this and this market must pick up the pace of 8 sales per month if it’s to eat up the 129 listings in any reasonable amount of time. Whenever I see market stats  so out of whack I like to go back a little further than 15 days on the sales history and then recalculate the absorption rate.  In the last 60 days there were 31 sales and using this sales rate (rather than the past 15 days), it calculates to 8.3 months of inventory on the market — better, but still high.

It’s certainly a buyer’s market in Kansas City and whether you’re considering selling or buying a Kansas City home, you’ll want more than just 15 days of market stats.  The above market stats also take into account single family homes, condos, townhomes, etc. Contact us to request market stats that are more specific to the real estate you are considering purchasing or selling.

View Past Kansas City Real Estate Stats

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Posted by Jason A. Brown

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