To buy or not to buy - is that the question? With so many opportunities and obstacles in the market many of you are trying to figure out if now is better than later. Locally, we see that last year's tax credit stimulus was picking up full steam in the month of April before peaking last May. This year, we are seeing investors coming out of the woodwork snatching up those undervalued foreclosures because the smart money knows that value in 5-7 years is going to be strong. In the meantime, people who are thinking about a major remodel of their current home are looking at homes for sale and seeing the house they really want already has the update and is within their budget. Now is the best time to buy improved Location, Lot, and Floorplan. If you have a home to sell, call us and let us strategize a success plan so you too don't miss out on the current housing opportunities.
Click here to see the market numbers for April
Tuesday, June 7, 2011
Wednesday, June 1, 2011
May Market Update
Hello Springtime! In Kansas City, March seems to be the official start of the Springtime real estate market. While we try to determine if this year's Spring market is anywhere near "normal" it is interesting to compare it to last year's figures where the tax credit stimulus was in full swing.
How did the figures of last March compare to this year? With the rush for sellers to try to get their homes sold last year during the stimulus there were 11% more homes on the market last year compared to this March. The incentive for cash definitely drove more sales to the tune of 15% more sales last year. The average sales price last year was 13% higher than March 2011. Sellers also fared better in the discounting of their homes last year with a Sales Price to List Price ratio slightly higher (last year) at 95.1% compared to 94.6% in 2011.
Did the stimulus work? You can be the judge of that. There will always continue to be sellers who need to sell and buyers who need to buy. We continue to look for clients who need professional guidance whether they are selling or buying. If you know anyone who is trying to decipher current market conditions, we'd love the opportunity to talk to them and offer them the same level of service you've received in the past.
Click Here to See the latest #'s
How did the figures of last March compare to this year? With the rush for sellers to try to get their homes sold last year during the stimulus there were 11% more homes on the market last year compared to this March. The incentive for cash definitely drove more sales to the tune of 15% more sales last year. The average sales price last year was 13% higher than March 2011. Sellers also fared better in the discounting of their homes last year with a Sales Price to List Price ratio slightly higher (last year) at 95.1% compared to 94.6% in 2011.
Did the stimulus work? You can be the judge of that. There will always continue to be sellers who need to sell and buyers who need to buy. We continue to look for clients who need professional guidance whether they are selling or buying. If you know anyone who is trying to decipher current market conditions, we'd love the opportunity to talk to them and offer them the same level of service you've received in the past.
Click Here to See the latest #'s
Tuesday, March 1, 2011
March Market Update
The 2010 4th quarter reports that nationally home sales rose 6.1% in November and surged to 12.3% in December as fence sitters moved to get ahead of rising mortgage rates. The inventory of homes slipped by 3.8% and 4.2% over the same time frame. The drop in supply and rise in demand helped drive the months supply down from 10.5 months in October to 8.1 months in December, a trend that helps to ease downward pressure on home prices.
In Kansas City, the supply for combined new and existing homes was 7.9 months of supply in January which is slightly lower than December’s 8 months of supply. Kansas City Home sales in January saw: Average Sales Price was $163,883, 104 Average Days on Market, and an average discount off the list price of 4.1%.
At Group O'Dell, we've witnessed more momentum going into 2011 than we've seen in the past 3 years. People are preparing themselves for the move up buy or preparing to take jobs out of town leaving them with homes to sell. Another good trend that seems to be creating the momentum - jobs! More companies around town seem to be hiring and relocating people to Kansas City. We have over 100 clients right now that are in some phase of preparation to sell a home, preparing to enter the buying market this year, or both. We are also seeing a shortage of "good inventory" in the market. If you are contemplating putting your home on the market this Spring and want to know what it is going to take to beat the Kansas City averages, you will want to attend our "How to Sell your Home in the New Market" on March 23rd at 6:30, here at our office. We will share techniques on staging your home, current market inventory levels and what you can expect to get out of your home. Call us at 913.599.6363 for more details!
In Kansas City, the supply for combined new and existing homes was 7.9 months of supply in January which is slightly lower than December’s 8 months of supply. Kansas City Home sales in January saw: Average Sales Price was $163,883, 104 Average Days on Market, and an average discount off the list price of 4.1%.
At Group O'Dell, we've witnessed more momentum going into 2011 than we've seen in the past 3 years. People are preparing themselves for the move up buy or preparing to take jobs out of town leaving them with homes to sell. Another good trend that seems to be creating the momentum - jobs! More companies around town seem to be hiring and relocating people to Kansas City. We have over 100 clients right now that are in some phase of preparation to sell a home, preparing to enter the buying market this year, or both. We are also seeing a shortage of "good inventory" in the market. If you are contemplating putting your home on the market this Spring and want to know what it is going to take to beat the Kansas City averages, you will want to attend our "How to Sell your Home in the New Market" on March 23rd at 6:30, here at our office. We will share techniques on staging your home, current market inventory levels and what you can expect to get out of your home. Call us at 913.599.6363 for more details!
Tuesday, February 8, 2011
Market Update February 2011
As the recovery is expected to bounce up slowly through 2011, conditions remain strong for buyers. However, sellers are starting to see some positive signs as well. Notice how prices are holding firm with shrinking inventories and in some cases, slowly recovering. Cities like Kansas City will be among the first housing markets to get it's legs back. We just returned from a national conference of top Realtors and from an antidotal standpoint, we've seen more momentum going into the new year than we have in the last 3. We are hearing similar stories across the country. The housing market recovery appears to be underway but the expectation is that full recovery will take awhile. So whether you or someone you know is thinking about buying or selling - an well thought out strategy is as critical now than it has ever been. We would be glad to consult with you. Click here to view the numbers.
Tuesday, January 4, 2011
The year has ended...see where the Kansas City housing market stacked up from month end November and Year-to-Date solds. Click here to view the numbers
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