Kansas City, MO
Housing Market
Kansas City's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Kansas City's supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellKansas City Housing Market Overview
Kansas City's housing market features a diverse selection of properties, from cozy single-family homes to spacious suburban residences. The real estate market has seen growth recently, with the median home price rising to $275,000, a 10.2% increase from the previous year. Homes typically remain on the market for 62 days, a 26-day YoY increase.
The city's steady property value growth is fueled by a robust local economy, a growing job market, and more affordable lifestyle than other metropolitan areas. With 392 homes sold this month, there is consistent buyer interest, despite the 10% decrease from last year. From its diverse cultural attractions to its growing tech industry, Kansas City continues to draw buyers both from within and out of the state. For sellers, pricing homes correctly and emphasizing unique features of their property can help attract buyers in this competitive market.
The city's steady property value growth is fueled by a robust local economy, a growing job market, and more affordable lifestyle than other metropolitan areas. With 392 homes sold this month, there is consistent buyer interest, despite the 10% decrease from last year. From its diverse cultural attractions to its growing tech industry, Kansas City continues to draw buyers both from within and out of the state. For sellers, pricing homes correctly and emphasizing unique features of their property can help attract buyers in this competitive market.
Median Sale Price
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Kansas City Housing Supply
Kansas City is an appealing market for real estate investors due to its strong demand and diverse economy. Currently, there are 1,940 active listings, with 571 new listings entering the market. This influx of new homes for sale in Kansas City gives buyers a variety of options to choose from. However, the housing supply now stands at 3.2 months, which points to a competitive market where sellers have the upper hand.
The housing market in Kansas City is influenced by seasonal trends, with more listings typically hitting the market during spring and summer. Both sellers and buyers are active at this time, as they want to close deals before winter sets in. Desirable neighborhoods such as Brookside, Overland Park, and Northland feature a wide range of property types. Kansas City's growing economy, affordable housing and central location make it a popular choice for homebuyers around the country.
The housing market in Kansas City is influenced by seasonal trends, with more listings typically hitting the market during spring and summer. Both sellers and buyers are active at this time, as they want to close deals before winter sets in. Desirable neighborhoods such as Brookside, Overland Park, and Northland feature a wide range of property types. Kansas City's growing economy, affordable housing and central location make it a popular choice for homebuyers around the country.
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Kansas City Housing Demand
Kansas City, MO's real estate market is somewhat competitive at the moment. However, 20.5% of homes have seen price reductions, which indicates that sellers are willing to adjust expectations. It also suggests that buyers have more room to negotiate.
Pricing a home accurately from the beginning can help sellers avoid the need for price reductions. If the market leans toward buyers, you could offer concessions rather than lowering the asking price. Buyers, on the other hand, should focus on homes with longer listing periods or properties that have already undergone price reductions. These homes might provide better negotiation opportunities.
Pricing a home accurately from the beginning can help sellers avoid the need for price reductions. If the market leans toward buyers, you could offer concessions rather than lowering the asking price. Buyers, on the other hand, should focus on homes with longer listing periods or properties that have already undergone price reductions. These homes might provide better negotiation opportunities.
Homes Sold Above List Price
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Strong
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Kansas City Housing Market: When to Buy or Sell?
Kansas City's housing market has traditionally moved between buyer-friendly and seller-friendly conditions. Just like the broader Missouri real estate market, Kansas City can favor both buyers and sellers on the basis of seasonal trends. When inventory rises and competition decreases, buyers have the upper hand in negotiations. On the other hand, when demand exceeds supply, sellers benefit from higher prices and quicker sales.
If the months of housing supply in Kansas City increase beyond the balanced conditions of the US real estate market (typically 5 - 6 months), it can give buyers more time to weigh their options. These market trends can help you make informed decisions about when to buy or sell your property.
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Frequently Asked Questions
How have Kansas City house prices changed over the past year?
The average cost of a house in Kansas City has increased by 10.2% year-over-year, reaching $275,000 at present. The market remains robust, with steady demand and rising property values, especially for single-family homes and condos. To find your home's fair market value, try our free home value estimator to set an accurate asking price.
What are Kansas City real estate market predictions for 2025?
Kansas City's housing market is expected to continue its growth trajectory in 2025. The region's expanding economy and steady demand across the Missouri housing market will likely drive home prices higher. While interest rates may affect affordability for some buyers, the market is expected to remain strong.
What's the average home price in Kansas City, MO?
The median home price in Kansas City depends on the location, size and type of property. Condos typically sell for around $200,500, while single-family homes average $287,500. You can browse cheap houses for sale in Kansas City, MO, to find something within your budget.
Is this a good time to buy a home in Kansas City?
If mortgage rates remain steady and inventory increases, it could be a good opportunity for buyers to find affordable homes. Monitoring the current market trends (housing prices, inventory levels and competition) will help you decide the best time to make a move.
Where can I check Kansas City housing market trends?
Kansas City's housing market is generally stable, with homes typically staying on the market for 60 days. Buyers can check the city's housing market trends to identify the best opportunities to buy, sell, or invest.
When will the Kansas City housing market crash?
The Kansas City housing market forecast for 2025 suggests that a crash is unlikely in the near future. The sustained demand and the city's growing economy are expected to keep the market stable through the year.
What is the process of buying a house in Kansas City?
Start by securing mortgage pre-approval and setting a budget. Then, explore the available houses for sale in Kansas City, MO, submit offers, secure loans, and close the deal.
How can I list my home for sale in Kansas City, MO?
You can list your home in Kansas City with a Flat Fee MLS Missouri listing service. Services like Houzeo provide a hassle-free way to list your property while saving on agent commissions. 🚀
What is the average mortgage rate for buyers in Kansas City?
The average mortgage rate in Kansas City fluctuates between 6.8% and 7%, but this can vary based on the lender and the borrower's credit score. Shop around for the best mortgage rates before you commit to a loan.
What is the average cost of living in Kansas City, MO?
Kansas City's cost of living is 9% lower than the national average, with housing costs 12% lower. Moreover, groceries are 3% less expensive, and transportation costs 11% lower than the US median. Kansas City is an affordable place to live, while still offering a high quality of life.
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