As discussed last month, Kansas City has become a very level housing market. In my opinion, the leverage in a transaction belongs only to the person that’s least motivated. For example, if a buyer has to have a home purchased within a certain time frame, the seller will have the advantage. The same thing can be said for a seller that has to unload a property. This is where agents need to recognize the hot buttons for their clients and also pay close attention to any hot buttons from the other party. Our negotiating skills will be put to the test along with our fabulous listening skills. Sales ARE still happening, but because sales have slowed down, we will see some discouraged sellers taking their homes off the market for the holidays. Buyers need to be aware of this and try not to hesitate when they find one they love.
Clay/Ray County sales were down for the month by 4.1% from 2012. Units were at 256 versus 267 last year. Year to date, unit sales are up 6.7%, with 3,334 units this year versus 3,124 last year.
The average sales price for the month was up 10.1% from last year, with an average price of $160,875. Year to date, the average price is up 9.4%. The average price is $159,340, versus $145,722 last year.
New listings were up 89 units to 523 or 20.5% from last year’s 434 units. Inventory is down 0.9% from last year and is running at 2,015 units. Inventory is up 18 units from last month.
Platte County sales were down for the month by 9.1% from 2012. Units were at 110 versus 121 last year. Year to date, unit sales are up 6.6%, with 1,441 units this year versus 1,352 last year.
The average sales price for the month was down 10.7% from last year, with an average price of $193,321. Year to date, the average price is up 6.5% from last year. The average price is $204,275 versus $191,834 last year.
New listings in Platte County were down 6 units to 207 or 2.8% from the 213 units last year. Inventory decreased 6.9% from last year and is running at 885 units. Inventory is up 25 units from last month.
Adjusted Sales* for the entire Heartland area were at 2,311, up for the month by 5.3%, or 116 units. The average price was up 7.9%, and averaging $183,559. Year to date, sales were up 9.7% or 2,263 units for a total of 25,550 for 2013. The average price for the year is running at $182,483, up 9.4% from 2012’s average of $166,832.