Has the Market Rebounded?
So how well did the Kansas City real estate market actually perform in 2012? The good news is that total sales were up 16% metro wide over 2011 and more importantly, the average sales price was up 19% over the same period with the current absorption rate (indicator of available month’s inventory) at a low 4.8 months (indicating a seller’s market). The economists at the National Association of Realtors are forecasting a 4% national increase in home prices for 2013, however, expect the Kansas City market to perform better especially as the job market continues to stabilize.
The land mines that exist for sellers are still the navigation of pricing their homes at the top of their market, home preparation and presentation to get top dollar, and appraisal issues and lender requirements that can thwart a sale. If you or someone you know, is interested in selling your home, call us today for a confidential meeting.