Shrinking Inventories Shore Up Sales…
Everyone breathes a sigh of relief as August rolls around. With kids back in school, everything starts to fall into rhythm again. The Kansas City real estate market typically quiets down then picks back up again as soon as school starts.
This year we are seeing some strong signs in all segments of the market. Good indicators in Platte County are rising prices and strong sales increases. In Jackson County prices are up 14% over last year, while Johnson County sales have been up every month this year over 20% (from 2011) with the exception of one month.
The number we are watching shrink is the number of homes available for sale. Inventory is down 15% from last year and 24% from just 2 years ago. This changing market is going to demand creative solutions as the pent up demand for housing continues to reveal itself. We are consulting with buyers and sellers now – positioning them for success with solutions they may not have thought about in the past. If you know of someone who is trying to figure out their options in this ever changing market, we’d love the opportunity to speak with them.