KCRAR: Local Market Update for June

KCRAR Local Market UpdateQuick Stats

  • 3779 Homes Sold
  • Inventory is Down 21% from June of 2014
  • Average Sale Price $212,984
  • 3.8 Month Supply on the Market

So we are showing a large reduction of inventory . . why?  Seller’s just not wanting to sell houses?  Banks who have keep the inventory high with REOs just not selling and sitting on houses?  Or maybe the Banks have found a new way to deal with their non-paying mortgages, like selling them to note investors?

With the Inventory Low, that is pushing prices up and the days on market down. We are seeing sellers of existing homes getting over 95% of their asking price.

The moral of this story?  Right now in Kansas City if you can find a motivated seller with a good deal that is off market and then put it out for sale – either as a fixer upper to other investors or a sweat equity to a home owner.  Or renovate it and sell it. It will probably sell quickly.  Just make sure your numbers are correct going in.

Get the full set up stats from KCRAR: