Understanding The Current Real Estate Market In Kansas City

Whether you are looking to sell a home in Olathe, Kansas or buy a home in Kansas City, Missouri you are probably asking yourself about the current real estate market.

With every group of people I meet the question is “How’s the market?” People want to know.

And so do I. Yesterday, I saw a couple of agents while I was out and about showing homes. When I asked them how the market was I got one “Great!” that seemed rehearsed and another “Well, I’m making a living. But that’s about it.”

IT’S NOT ALL ROSES OUT THERE but it’s not all thorns, either. A little history is in order here. During the great price run ups of the early 2000’s people got used to being able to sell their houses rather easily. Here in the Kansas City area we didn’t get the 20% appreciation rates they got out west and east. But we did get to the point where you could sell every year for 5%-10% more than last year. And sell it withing 60 days.

Today’s market is a bit different. It’s a “normal” market. Yes, despite what CNN and FoxNews tells you there is still appreciation here in Greater Kansas City. Yes, there are a few zip codes that have gone backwards. But not in a free fall fashion like parts of Cleveland. And yes, there are zip codes that have had significant increases, but not like Denver or Tulsa.

The key to selling your home today is proper pricing. Study the comparables carefully. Judge the condition of your house brutally and compare that to the SOLD houses. Where do you stand. Be honest, it will be the difference in whether you sell your house in 60 days, or not.

Don’t think that is possible? It is. Want proof? I can email it to you. Take a gamble and leave “negotiating room” and you will likely slip into that 4-7 month sales time range. Go ahead, argue with me. See how it goes.

Of course, buyers are loving life right now. Even if they sell their $150,000 house at a 5% discount they can pick up their new $235,000 house at a 5%-10% discount. See how they still benefited?

And selection, ah, the selection.