You may have heard national news reports saying “home prices are falling”…just remember, all real estate is local and while that may be true in some areas, KC resale home prices are still pretty stable. You’ll see from the report below that Armour Hills properties have slipped compared to last year, but the priced right houses are still selling quickly.
|february 2023||february 2022|
|Median list price:||$385,000||$407,500|
|Median sales price:||$400,000||$395,000|
|No. of homes sold:||3||4|
|Days on market:||2||86|
The median sales price was just a bit higher than February 2022, and the Feb 2023 sold price was over the median list price. The highest sale last month was $680,000 for an expanded, flipped home that was priced at $695K. Let’s look at the year-to-date numbers:
|Jan-Feb 2023||Jan-Feb 2022|
|Median list price:||$367,450||$415,000|
|Median sales price:||$375,700||$420,000|
|No. of homes sold:||6||7|
|Days on market:||4||17|
You can see from this chart that buyers are usually paying list price or above; although prices are down about 10% over last year. So you can argue that “prices are falling” yet there is still a lot of demand because homes are selling fast and usually for over the asking price. It’s always changing!!! Currently there is one home for sale in Armour Hills, priced at $599,950 and 18 days on market.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)