Expert Insight Into The Kansas City Real Estate Market     

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. We care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

April 11, 2024

Kansas City Neighborhood Spotlight: Parkville, Missouri

Parkville, Missouri: A Hidden Gem for Homebuyers Seeking Tranquility and Charm

Nestled along the banks of the Missouri River, Parkville, Missouri, exudes a timeless appeal that captivates visitors and residents alike. With its picturesque landscapes, rich history, and welcoming community spirit, Parkville stands out as a premier destination for those seeking a peaceful retreat and a place to call home. Here are several reasons why Parkville, Missouri, is a great place to live and buy a home:

Historic Charm: Steeped in history, Parkville boasts a charming downtown area lined with historic buildings, quaint shops, and cozy cafes. Strolling down Main Street feels like taking a step back in time, with its cobblestone sidewalks and well-preserved architecture. History buffs will appreciate Parkville's rich heritage, which is celebrated through local museums, landmarks, and annual events.

Vibrant Downtown Events: Downtown Parkville comes alive throughout the year with a variety of exciting events and festivals that showcase the city's vibrant culture and community spirit. From the Parkville Microbrew Fest, featuring craft beers from local and regional breweries, to Parkville Days, a family-friendly festival celebrating food, music, and arts, there's always something fun happening in the heart of the city. These events not only provide entertainment for residents but also attract visitors from near and far, further enriching the local economy and fostering a sense of pride in the community.

Scenic Beauty: Parkville's natural beauty is second to none. From rolling hills and lush forests to panoramic views of the Missouri River, the city offers residents a scenic backdrop that inspires awe and wonder. Whether hiking along the extensive trail system at Parkville Nature Sanctuary or enjoying a leisurely picnic at English Landing Park, outdoor enthusiasts will find plenty of opportunities to connect with nature right in their backyard.

Top-Rated Schools: Families with children will find excellent educational opportunities in Parkville. The city is served by the highly regarded Park Hill School District, known for its academic excellence and innovative programs. With a focus on student success and personalized learning, Park Hill schools provide a nurturing environment where students can thrive and reach their full potential.

 

In conclusion, Parkville, Missouri, offers the perfect blend of natural beauty, historic charm, and community spirit. With its scenic landscapes, vibrant downtown area, top-rated schools, convenient location, recreational opportunities, and commitment to safety, Parkville provides an idyllic setting for those seeking a peaceful and fulfilling lifestyle. Whether you're searching for your dream home or simply looking to explore a new place, Parkville welcomes you with open arms and promises a living experience like no other.

April 11, 2024

Enhance Your Home Value: Top Lawn and Landscaping Updates for Homeowners

Enhance Your Home Value: Top Lawn and Landscaping Updates for Homeowners

In the world of real estate, first impressions matter – and your home's curb appeal sets the stage for potential buyers. A well-maintained lawn and thoughtfully designed landscaping not only beautify your property but also increase its value. It's important to note that improving landscaping takes time and needs to be updated and maintained over time; it can't be a quick update. However, if you're looking to boost your home's appeal and maximize its potential resale value in the long run, consider these top lawn and landscaping updates:

1. Invest in Professional Lawn Care or DIY Maintenance:

 

A lush, green lawn is a hallmark of a well-cared-for property. While hiring a professional lawn care service can provide excellent results, there are also cost-effective DIY alternatives for maintaining your lawn. Consider investing in a high-quality lawn mower and other essential tools for mowing, edging, and trimming your lawn yourself. Additionally, you can purchase fertilizers and weed control products from a local garden center and follow DIY lawn care guides to keep your lawn healthy and vibrant throughout the year. Regular maintenance, whether done professionally or DIY, is essential for achieving an attractive and inviting outdoor space that appeals to potential buyers.

 

2. Enhance with Native Plants:

 

Incorporating native plants into your landscaping not only adds visual interest but also requires less water and maintenance compared to non-native species. Native plants are well-adapted to your region's climate and soil conditions, making them a sustainable and eco-friendly choice. Consider adding a mix of flowers, shrubs, and trees that thrive in your local environment for a low-maintenance yet beautiful landscape. If you're unsure which native plants to choose for your area, check out this helpful resource on the best native plants for Kansas City: Best Native Plants for Kansas City.

 

3. Create Defined Borders and Edges:

Well-defined borders and edges give your landscaping a polished and organized look. Consider adding hardscape elements such as stone borders, pavers, or decorative fencing to delineate flower beds, pathways, and lawn areas. Crisp, clean edges create visual appeal and make your landscaping appear well-maintained and cared for.

4. Install Outdoor Lighting:

Outdoor lighting not only enhances the safety and security of your home but also adds ambiance and charm to your landscaping. Consider installing pathway lights, accent lighting for trees and architectural features, and LED spotlights to highlight key areas of your yard. Well-placed lighting creates a warm and inviting atmosphere, extending the enjoyment of your outdoor space into the evening hours.

5. Upgrade Hardscape Features:

Hardscape features such as patios, decks, and retaining walls can significantly enhance your home's outdoor living space and overall appeal. Consider upgrading or adding hardscape elements that complement your home's architecture and style. Quality materials, such as natural stone, brick, or composite decking, add durability and value to your outdoor areas, making them more attractive to potential buyers. A renovated deck or patio effectively extends your home's living space, providing additional square footage for outdoor activities, dining, and entertaining. This expanded living space is highly desirable among buyers, particularly those who value outdoor amenities and entertainment areas. A well-executed deck or patio renovation can yield an ROI ranging from 70% to 100% or more.

6. Maintain Proper Drainage:

Proper drainage is essential for preserving the integrity of your landscaping and preventing water damage to your home's foundation. Ensure that your yard has adequate drainage solutions in place, such as French drains, swales, or rain gardens, to redirect water away from your property. Addressing drainage issues proactively not only protects your investment but also enhances your home's appeal to buyers.

7. Consider Sustainable Landscaping Practices:

Embracing sustainable landscaping practices not only reduces your environmental footprint but also adds value to your home. Incorporate water-efficient irrigation systems, drought-tolerant plants, and permeable paving materials to conserve water and minimize runoff. Sustainable landscaping features demonstrate your commitment to environmental stewardship and resonate with eco-conscious buyers.

 

In conclusion, investing in quality lawn care and strategic landscaping updates can significantly enhance your home's value and curb appeal. By prioritizing these top lawn and landscaping improvements, you can create a welcoming and attractive outdoor environment that captivates potential buyers and sets your home apart in the competitive real estate market. Whether you're preparing to sell your home or simply enhancing your living space, these landscaping updates offer long-lasting benefits for homeowners.

 

Posted in Expert Advice
March 14, 2024

12 Essential Questions to Ask When Evaluating School Districts for Your Children

So, you've found the perfect neighborhood with the cutest houses, but there's one crucial factor you can't overlook—school districts. If you've got little ones in tow or planning for the future, finding the right school district is a top priority. After all, you want your kids to have access to a quality education and a supportive environment. 

But where do you start? Don't worry, we've got your back. We've rounded up 12 must-ask questions that'll help you dig deeper into those school districts while you're out there house hunting. From extracurricular programs to safety and more, these questions will ensure you're making the best decision for your family's future home sweet home. Let's dive in and find that perfect blend of house and school for your kiddos!

What are the school district boundaries?

Understanding the boundaries helps determine which neighborhoods or areas fall within the school district's jurisdiction.

What are the school district's academic ratings and performance?

Researching the academic performance of schools within the district can provide insights into the quality of education provided.

What are the teacher-to-student ratios?

Lower teacher-to-student ratios generally allow for more individualized attention and support for students.

What extracurricular programs and resources are available?

Inquire about extracurricular activities, sports programs, arts programs, and other resources that contribute to a well-rounded education.

What special education services are offered?

If your child has special needs, it's important to know what services and accommodations are available within the district.

What is the school's approach to discipline and safety?

Understanding the school's policies on discipline, bullying prevention, and overall safety measures is crucial for your child's well-being.

What is the school's culture and community involvement?

Learning about the school's culture and level of community involvement can provide insights into the overall environment your child will experience.

What are the transportation options available?

Inquire about bus routes, transportation policies, and proximity to schools, especially if your child will be using school transportation.

What are the facilities and resources available within the schools?

Assess the condition of school facilities, access to technology, libraries, and other resources that contribute to the learning environment.

How does the district support student success and well-being?

Ask about support services such as counseling, tutoring, and mental health resources available to students.

What is the district's approach to parental involvement and communication?

Understanding how the district engages parents and communicates important information can help foster a collaborative relationship between families and schools.

Are there opportunities for parental involvement and volunteering?

Inquire about opportunities for parents to participate in school activities, committees, and volunteer programs.

By asking these questions and conducting thorough research, you can make an informed decision about the school district that best meets your child's educational needs and your family's priorities. Additionally, visiting schools, talking to current parents, and attending open houses or school events can provide firsthand insights into the school community. We also recommend visiting Niche.com to aid in your research. 

 

To find out more about homes located inside your preferred school district reach out to us directly!

Posted in Expert Advice
March 14, 2024

Discovering the Allure of Mission, Kansas: A Premier Place to Live and Buy a Home

Nestled within the heart of Johnson County, Mission, Kansas, stands as a remarkable destination offering a unique blend of urban amenities and small-town charm. Boasting a rich history, vibrant community spirit, and a plethora of recreational opportunities, Mission is undoubtedly a great place to call home and invest in real estate. Here are several reasons why Mission, Kansas, stands out as a premier destination for homebuyers:

Prime Location: Situated just minutes away from downtown Kansas City, Mission offers residents the best of both worlds - easy access to the bustling city life and the tranquility of suburban living. With major highways and thoroughfares nearby, commuting to work or exploring the metropolitan area is convenient and hassle-free.

 

Diverse Housing Options: Mission features an array of housing options to suit every lifestyle and budget. From historic bungalows and cozy cottages to modern condominiums and spacious family homes, prospective buyers can find the perfect dwelling to meet their needs and preferences. The eclectic mix of architectural styles adds character and charm to the community, making each neighborhood distinct and inviting.

 

Strong Sense of Community: One of the defining characteristics of Mission is its strong sense of community and camaraderie. Residents take pride in their city and actively participate in local events, festivals, and volunteer initiatives. The city hosts various community gatherings throughout the year, fostering friendships and connections among neighbors. From farmers' markets to outdoor concerts, there's always something exciting happening in Mission.

 

Excellent Schools: Families with children will appreciate the top-notch educational opportunities available in Mission. The city is served by the highly regarded Shawnee Mission School District, known for its academic excellence and innovative programs. With a focus on student success and personal growth, Mission schools provide a supportive learning environment that prepares students for future success.

 

Abundant Parks and Recreation: Nature enthusiasts and outdoor lovers will find plenty to explore in Mission's parks and green spaces. The city boasts a network of well-maintained parks, trails, and recreational facilities, offering endless opportunities for hiking, biking, picnicking, and more. Whether enjoying a leisurely stroll along Turkey Creek Streamway Trail or playing a game of softball at Broadmoor Park, residents can embrace an active and healthy lifestyle year-round.

 

Thriving Economy: Mission is home to a thriving business community, with a diverse array of shops, restaurants, and services conveniently located within the city. From family-owned boutiques to nationally recognized retailers, Mission offers a unique shopping experience that caters to all tastes and interests. Additionally, the city's strategic location and robust economy provide ample employment opportunities across various industries.

 

Safety and Security: With its low crime rate and dedicated police force, Mission prioritizes the safety and well-being of its residents. Families can feel confident and secure knowing that their community is committed to maintaining a safe and welcoming environment for all.

 

In conclusion, Mission, Kansas, embodies the ideal blend of small-town charm, urban convenience, and community spirit. With its prime location, diverse housing options, strong sense of community, excellent schools, abundant recreational opportunities, thriving economy, and commitment to safety, Mission offers everything you could want in a place to live and buy a home. Whether you're a young professional, growing family, or empty-nester seeking a peaceful retreat, Mission welcomes you with open arms and promises a rewarding living experience like no other.

Feb. 8, 2024

Kansas City Neighborhood Spotlight: Kearney, Missouri

 

Discover the Allure of Kearney: A Perfect Place to Call Home

Tucked away in the heart of Missouri lies a hidden gem that embodies the essence of small-town charm while offering all the amenities and comforts of modern living. Welcome to Kearney, a picturesque community that beckons homebuyers with its inviting neighborhoods, vibrant atmosphere, and endless opportunities for a fulfilling lifestyle. Let's delve into why Kearney, Missouri, stands out as a prime destination to not only live but also to buy a house and put down roots.

1. Quaint Small-Town Atmosphere

In Kearney, life unfolds at a relaxed pace, marked by friendly nods between neighbors and a strong sense of community. The town's tree-lined streets, pristine parks, and inviting public spaces contribute to a welcoming atmosphere. Kearney offers a peaceful retreat from the fast pace of urban living, providing both the ease of small-town life and the benefits of modern amenities.

2. Top-Rated Schools and Education

For families considering a move to Kearney, the town's exceptional school system is a major draw. Kearney's schools consistently receive high marks for academic excellence, dedicated educators, and a wide array of extracurricular opportunities. Parents can rest assured knowing that their children are receiving a quality education in a supportive and nurturing environment, setting them up for success both academically and personally.

3. Abundance of Outdoor Recreation

Nature lovers and outdoor enthusiasts will find plenty to love about Kearney's natural surroundings. From scenic hiking trails and tranquil fishing spots to expansive parks and recreational facilities, the town offers ample opportunities to explore the great outdoors and stay active year-round. Whether it's a leisurely stroll along the Jesse James Greenway or a family picnic at Lions Park, Kearney provides endless possibilities for outdoor recreation and relaxation.

4. Rich History and Culture

Kearney boasts a rich historical heritage that's celebrated throughout the town. History buffs will delight in exploring landmarks such as the Jesse James Birthplace Museum and the Historic Downtown District, where they can immerse themselves in the stories and legends that have shaped Kearney's past. Additionally, the town's vibrant arts scene, local festivals, and cultural events provide residents with opportunities to connect with one another and celebrate their shared heritage.

5. Convenient Location and Accessibility

Situated just a short drive from the bustling city of Kansas City, Kearney offers the perfect blend of small-town tranquility and urban convenience. Residents enjoy easy access to a wealth of shopping, dining, and entertainment options, as well as major highways and transportation hubs for hassle-free travel to nearby destinations. Whether it's a weekend getaway or a night out on the town, Kearney's central location makes it easy to experience everything the region has to offer.

6. Affordable Real Estate Market

One of the most compelling reasons to consider Kearney as a place to buy a house is its affordable real estate market. Compared to neighboring cities, Kearney offers a range of housing options at prices that are accessible to a wide range of budgets. Whether you're in the market for a cozy starter home, a spacious family residence, or a sprawling estate with room to grow, Kearney has something to suit every taste and lifestyle.

In conclusion, Kearney, MO, stands out as a hidden gem for those seeking a place to live and buy a house. It boasts small-town charm and top-notch schools, making it appealing for families. The town is rich in outdoor activities, history, and culture, ensuring a vibrant community life. Its convenient location and affordable real estate market add to its allure. Kearney presents an ideal mix of community, comfort, and opportunity.

Ready to discover your perfect home in Kearney? Contact us today, and let's turn your dream of small-town living into a reality. Our team is here to guide you every step of the way.

Jan. 13, 2024

Kansas City Neighborhood Spotlight - Waldo

Where Charm Meets Community in Kansas City, Missouri

Nestled in the heart of Kansas City, the Waldo neighborhood stands as a testament to the perfect blend of old-world charm and vibrant community living. Known for its tree-lined streets, historic homes, and lively atmosphere, Waldo has carved its niche as one of the city's most beloved residential areas.

Historic Roots:

Waldo's story begins with its charming architecture, featuring a mix of Tudor, Colonial, and Craftsman-style homes that exude character and timeless appeal. Originally developed in the early 20th century, this neighborhood has gracefully evolved while retaining its historic charm.

Shop Local, Dine Local:

Waldo is a haven for those who appreciate the authenticity of local businesses. From boutique shops to family-owned restaurants, the neighborhood prides itself on offering a diverse array of establishments. Residents and visitors alike can explore unique boutiques, cozy cafes, and trendy eateries, making every stroll down the main drag a delightful adventure.

Community and Events:

What truly sets Waldo apart is its sense of community. The neighborhood hosts various events throughout the year, fostering a strong bond among residents. Whether it's the lively Waldo Fall Festival or the cozy Winter Warm-Up, there's always an opportunity to connect with neighbors and celebrate the spirit of community.

Parks and Recreation:

For those who love the outdoors, Waldo doesn't disappoint. Trolley Trail, a popular biking and walking path, weaves through the neighborhood, providing a scenic route for fitness enthusiasts and leisurely strollers alike. Nearby parks offer green spaces where families can picnic, play, and create lasting memories.

Schools and Education:

Waldo is home to a range of educational options, making it an ideal choice for families. Local schools are renowned for their commitment to academic excellence, and the community's emphasis on education creates an environment where learning thrives.

Easy Commute, Convenient Living:

Situated just south of the Country Club Plaza, Waldo offers residents the best of both worlds – a quiet residential haven with easy access to the vibrant energy of the city. The neighborhood's strategic location provides a quick commute to downtown Kansas City, making it an ideal choice for professionals seeking a balance between work and play.

 

In Waldo, every street tells a story, and every corner holds a piece of the community's rich tapestry. As the sun sets behind the historic homes and the lights twinkle in the local shops, it's evident that Waldo isn't just a neighborhood; it's a welcoming embrace that invites all to experience the warmth and character of Kansas City living.

Explore more of what Waldo has to offer here.

Jan. 11, 2024

Avoid the Agony: Don't Waste Your Time on These 6 Pointless Fixes Before Selling Your Home

 

 

Avoid the Agony: Don't Waste Your Time on These 6 Pointless Fixes Before Selling Your Home

One of the most common questions we get is “what do I  fix before selling my home?”  Although an important question, equally important is the other side of that… What not to fix. Don't make the mistake of spending money on things that won’t help your sale. In a bid to secure a good sale, it is common for homeowners to undertake massive renovations before putting their property on the market. However, not all fixes are necessary or even beneficial when it comes to selling your home. In fact, some changes could actually harm your selling chances and cost you money.  Let’s take a look at some of  the not-so-obvious fixes to avoid before selling your home.

 

Over-the-Top Kitchen Renovations

A top-notch, sleek kitchen can indeed make your home more attractive to buyers. Nevertheless, it's critical to find a balance when embarking on kitchen renovations. Simple updates such as investing in modern appliances, a fresh coat of paint, or replacing outdated fixtures could be quite advantageous. That said, an excessively luxurious revamp like installing upscale gourmet kitchen equipment or bespoke cabinetry might not offer the anticipated return on your investment. Your prospective buyers might not share the same appreciation for these costly additions, and they could even feel overwhelmed by a kitchen that appears too sophisticated or requires too much upkeep. Instead of going all-out on kitchen renovations, focus on creating a warm, user-friendly space that any home cook would love.

Personalized and Trendy Color Schemes

Injecting your home with a vibrant color palette or the latest color trends might seem like a brilliant idea to make it stand out. Your unique style may shine through, but the reality is that this could unintentionally push away potential buyers who don't share your color preferences. The trendiest shades of today could quickly become yesterday's news, and what you consider chic, others might see as a project to repaint. Instead of betting on bold and personalized colors, opt for timeless neutrals. These shades allow buyers to picture their own furnishings and décor in your home, thus making it more inviting to a wider range of people. In selling a house, the goal is to appeal to as many buyers as possible, and neutral colors can effectively do that. You're providing a blank slate for them to imagine their life and personal style filling the space. Rather than imposing your color choices, give them the freedom to visualize their dream home. So, before you break out the royal blue or neon green paint, consider sticking with the always-fashionable whites, greys, and beiges. These colors can make your home feel brighter, larger, and ready for a new family's personal touch.

Elaborate Landscaping Overhauls

Curb appeal undoubtedly plays a significant role in attracting potential buyers, but don't be tempted into thinking that the more intricate and lavish your garden, the better. In reality, overly complex landscaping might hinder rather than help your sale. Picture a potential buyer stepping into your yard. While they may appreciate the beauty of your topiary sculptures, exotic flora, or elaborate water features, they could also foresee the countless hours of maintenance required to keep up the aesthetic. This vision of constant work can quickly dampen their initial enthusiasm. So what should you do? Focus on presenting a clean, inviting outdoor area. Keep your lawn mowed, your hedges trimmed, and your flower beds neat. You don't need to transform your yard into a botanical wonderland. Most buyers are looking for a pleasant outdoor space where they can relax or play with their kids, not a horticultural masterpiece that demands their constant attention. Providing a tidy and low-maintenance yard can help buyers see the potential in your property without feeling overwhelmed by upkeep responsibilities. The ultimate aim is to create an exterior space that not only looks good but also feels manageable to maintain. This approach strikes the perfect balance, improving your home's attractiveness without intimidating buyers with unnecessary work.

Luxury Bathroom Upgrades

Splurging on high-end bathroom modifications like imported tiles, whirlpool tubs, or smart toilets might seem like a sensible move, but they may not necessarily bump up your property’s selling price as much as you anticipate. These pricey changes could push your home's cost beyond what buyers are willing to pay, particularly if these lavish enhancements aren't in line with the rest of the neighborhood's standard features. Keep in mind that many potential buyers might be looking for simpler, more classic bathroom elements that allow them to infuse their own personal touches and suit their budget needs. The key is to provide a functional and attractive bathroom, without leaning heavily into luxury that could potentially alienate buyers or inflate your asking price beyond what the market can bear. The right approach to bathroom upgrades can leave room for new homeowners to make their own enhancements, without feeling burdened by the cost of luxury fittings they didn't necessarily want or need.

Over-Zealous Carpet Replacement

The temptation to replace old carpets when selling your home is understandable. After all, new carpets can add a fresh, updated feel to a room. However, this could end up being an unwise and costly investment. Unless your existing carpets are in terrible condition, it's often more prudent to hire a professional carpet cleaning service to restore their look. You'll be surprised how effectively dirt and stains can be removed, and how much life can be brought back into what seemed like a worn-out carpet. This can save you a considerable amount of money, while still improving the aesthetic appeal of your home.

What's more, many potential buyers may have their own ideas about flooring. They might prefer hardwood floors, tiles, or a different style or color of carpeting. In such cases, your investment in new carpets may go unappreciated, or worse, become an inconvenience to the buyer. Therefore, unless your current carpeting is beyond saving, it's often best to avoid the time, effort, and expense of replacing it before selling your home. After all, an essential part of selling your property involves leaving room for the new homeowners to add their unique touch. By not replacing the carpets, you offer them this flexibility, and you may also make your home more appealing to a wider range of potential buyers.

Neglecting the "Lived-In" Feel

It's true, potential buyers need to walk into your home and immediately feel a sense of comfort and coziness. This is why it's essential to strike the right balance when staging your home. It's definitely crucial to keep things tidy and clutter-free. Nevertheless, wiping out every trace of habitation can lead to an overly sanitized, impersonal space that can be off-putting to buyers. They are not just purchasing a property, but a potential home, a place to make memories. A few personal touches can spark this vision.

Think of adding a couple of family photos on the mantelpiece, a soft throw on the living room sofa, or a vibrant piece of artwork on the wall. These items can add warmth and character, giving your home a "lived-in" feel that's inviting and homely. But remember, the key here is moderation. Too many personal items could make it difficult for potential buyers to imagine their own belongings in the space.

Also, consider leaving some functional items in place. A coffee mug on a kitchen counter or a neatly folded newspaper on the coffee table can suggest a lifestyle that potential buyers might aspire to. These little details can make your home feel lived-in and loved, but not cluttered or overly personalized. They subtly suggest that this house is not just a building, but a home where life can be comfortably lived. The objective here is to create an appealing balance between an attractive, clean space and a warm, welcoming environment that potential buyers can easily imagine as their future home.

 

In conclusion, when preparing your home for sale, it's crucial to focus on improvements that resonate with a broad range of potential buyers. It's about striking the perfect balance between making your home appealing and not overdoing it with personal or overly luxurious touches. If you're in the Kansas City metro and want to talk to a trusted advisor on what improvements you should make to your home before selling, don't hesitate to reach out to our team.

We're here to guide you in making smart, impactful decisions that will enhance your home's appeal and market value. Click the link below for personalized advice tailored to your unique situation and the Kansas City real estate market.

Contact Us

Posted in Real Estate Update
Jan. 11, 2024

Navigating the Shifting Tides: A Comprehensive Analysis of Kansas City Real Estate Market in 2023

As we bid farewell to 2023, it's imperative to reflect on the key metrics that have shaped the trajectory of the Kansas City real estate market over the past year. The statistics reveal not only the pulse of the market but also the nuanced dynamics that influence buyer and seller behaviors.

1. Closed Sales: A Decline in Volume, But What Does it Signify?

  • In 2023, closed sales witnessed a 7.2% decrease, falling from 2,527 to 2,346. A closer look at the year-end figures shows a more substantial decline, plummeting by 14.9%, from 40,418 to 34,380. This decline suggests a potential shift in buyer demand or market conditions that impacted overall transactional activity.

2. Average and Median Sales Prices: A Tale of Two Metrics

  • The average sales price experienced a modest uptick of 2.7%, climbing from $327,721 to $336,455. Meanwhile, the median sales price showed a more notable increase, rising by 4.7%, from $274,000 to $287,000. These figures indicate a general appreciation in property values, which can be attributed to factors such as increased demand or limited inventory.

3. Days on Market (DOM): Patience Tested in 2023

  • Days on Market Until Sale saw a significant uptick of 10.8%, increasing from 37 to 41 days. A more staggering change is evident in the year-end data, surging by 50.0%, from 24 to 36 days. This elongation in the selling process suggests a more discerning buyer pool or potentially an increase in market competitiveness.

4. Percentage of Original List Price Received: Navigating Negotiation Dynamics

  • The percentage of the original list price received remained relatively stable, experiencing a marginal decrease of 0.1% in 2023. However, the year-end figures show a more noticeable shift, dropping by 1.6%, from 100.6% to 99.0%. This may indicate a subtle shift in negotiating power from sellers to buyers.

5. Pending Sales: Unraveling Future Market Trends

  • The number of pending sales increased by 8.9%, rising from 1,884 to 2,052. However, the year-end figures reveal a contrasting narrative, with a notable decline of 11.1%, from 38,796 to 34,499. This discrepancy suggests a potential fluctuation in buyer enthusiasm or a shift in market dynamics that may unfold in the coming months.

6. Inventory and Supply: The Supply-Demand Balancing Act

  • Inventory witnessed a decline of 8.9%, dropping from 5,782 to 5,267. Meanwhile, the supply increased by 5.9%, from 1.7 to 1.8. These figures underscore the delicate balancing act between supply and demand, with a potential impact on pricing and market competitiveness.

 

The Kansas City real estate market in 2023 witnessed nuanced shifts, from changes in transactional activity to alterations in pricing dynamics. As we move forward, these insights will serve as a compass, guiding stakeholders through the ever-evolving landscape of one of the Midwest's most captivating real estate markets.

Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

 

 

Posted in Market Updates