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Market Overview
Home » Missouri » Kansas City Real Estate » Market OverviewKansas City is a buyer’s market. Properties have been moving steadily over the past months with the market going neither up or down very steeply. Property values are increasing steadily and prices are remaining at a reasonable rate. New construction is down slightly, but still selling.
The recent trend has been described as, “out with the old, in with the new.” New construction is on the rise, specifically Cass County, Missouri and Miami County, Kansas. These areas are far enough off the beaten path to be able to get "more bang for the buck". Meanwhile the "older" areas are sitting on their re-sales just a little bit longer. Buyers have a lot of choices and find better odds at getting the sellers to negotiate off of their asking price.
Those shopping for a home in the Kansas City area from a distant location are recommended to begin with the representation of a buyer only agent. Unlike a traditional agent, a buyer only agent is motivated only to get you the best possible deal. They aren’t worried about increasing their commission by selling you their own listing.
There are currently over 121,390 total housing units in Kansas City, Missouri. The average home price is $115,532. The median rental price is $403. Fifty-five percent of the homes are owner occupied, 37% are rental units. Eight percent of the housing units are vacant. There are over 800 real estate agents in Kansas City.
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