Kansas City Real Estate Market Update: Key Trends for Buyers and Sellers

As we move through the first quarter of the year, the Kansas City real estate market continues to show strong momentum. Whether you’re a homeowner considering selling or a buyer looking for the perfect property, understanding the latest trends can help you make informed decisions. Here’s an in-depth look at how the market is performing across Clay and Platte counties.

Clay County Market Update

The housing market in Clay County is experiencing solid growth, with the average home price increasing by 8.7% compared to last year. This brings the average home price to just above $360,000. Homes are spending approximately 48 days on the market, which is slightly longer than previous periods. However, with inventory down by 12.7%, demand remains steady. This means that well-priced homes continue to attract strong offers.

For sellers in Clay County, this trend indicates that strategically pricing your home is essential to securing a competitive offer. With limited inventory, properly positioned homes can stand out and sell faster in today’s market.

Platte County Market Update

In Platte County, the average home price has increased by 3%, now reaching $441,000. Homes in this area are selling in about 56 days, which is slightly faster than last year. One key shift in this market is a 46.3% increase in inventory, providing buyers with more options than before.

While an increase in available homes can create more competition for sellers, properties in high-demand areas like Parkville continue to attract strong interest. Homes that are marketed effectively and priced competitively are still selling at top dollar.

What This Means for Buyers and Sellers

• For Sellers: Buyer demand remains strong, and strategic pricing is crucial. With inventory levels varying by location, getting ahead of the competition before the spring market heats up can help you secure the best possible offer.

• For Buyers: With increasing inventory in some areas, more options are available. However, desirable properties in prime locations are still moving quickly, making it important to act fast when the right home comes on the market.

If you’re considering selling your home, now is a great time to maximize its value. A well-thought-out pricing and marketing strategy can ensure that you attract the right buyers and secure a strong offer.

Stay informed about the latest market trends and make the most of your real estate opportunities in Kansas City. Whether buying or selling, working with a knowledgeable real estate team can make all the difference in achieving your goals.