As low inventory levels seem to dictate the pace of the current Kansas City real estate market, an interesting picture is starting to emerge. Yes, the number of days on market is lowering and prices are finally being pushed upwards, but what the following charts don’t tell you is that the number of pending contracts (those that are under contract waiting for final sale) is down in every county compared to February of 2012 with Johnson County experiencing the biggest drop, down 198% and Jackson County down 149%. This of course, is due to the lack of good inventory available for purchase. What will unfold over the next couple of months will be less sales leaving buyers with more pent up demand.
Pricing and preparation is still the name of the game for sellers. If you had put off the sale of your home over the past couple of years because of market conditions it may be time to revisit your options. We would be glad to consult with you or anyone you know that would like a solid plan in place for a move.