The June 2012 Statistics are now available, and the big news is that Kansas City is approaching a balanced market. It should come as no surprise that the sales prices and the number of sales both have increased over June 2011 while inventory has declined. As an local resident, we should all be happy that our economy and real estate market is improving. Evaluating what this means to a buyer or seller is a bit different. For the last several years, we have been living in a buyer’s market with high inventory and low demand. During this time, buyers had the power, prices were falling, and sellers faced many frustrations. However, since the bust, we have seen a steady decline of inventory which has lead us to a more balanced market, and as of now, buyers only have a slight edge. This means that buyers should think twice before submitting those crazy low offers if they actually want the home. List price and sales price are often very close, and I am seeing a proliferation of multiple-offer situations wherein several buyers compete for the same property. Many quality homes are selling at full price or even higher, which hasn’t happened since the boom. VIEW COMPLETE JUNE 2012 STATISTICS
My name is Sarah Snodgrass and I am a full-time, full-service, real estate agent living and working in Kansas City. I specialize in the area's classic neighborhoods, including Brookside, Waldo, Prairie Village, and Leawood.
Real Estate: Buying & Selling
Interested in buying or selling? Or maybe you just have a general question about real estate. Send me an email or give me a call at at (816) 410-5461. I would love to hear from you!
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