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Kansas City, MO Real Estate Trends

 

Kansas City, MO Real Estate Trends

Learn more about the current housing trends in Kansas City, MO, with our guide below. For additional information on the local housing market, download our Market Trends Executive Summary.

Understanding Market Statistics

Attempting to understand market statistics can be a bit overwhelming at first. “All those numbers look fascinating, but what do they mean?” Some of the numbers in the chart on the left will be fairly simple to understand, but there are a few that aren’t so easy to figure out. Here’s a bit of extra information to help make the rest of these numbers a bit more useful to you.

7-day Market Stats by All Quartiles for Single Family properties in
KANSAS CITY, MO as of 20 Dec 2013
Median List Price: $119,500 Average List Price: $178,455
Total Inventory: 2,620 Price Per Square Foot: $81/SqFt
Average Home Size: 1,590 SqFt Median Lot Size: 11,326 SqFt
Average # Beds: 3.30 Average # Baths: 2.02
Homes Absorbed: 169 Newly Listed: 92
Days on Market: 127 days Average Age: 53 years
Data provided by and ©2013 Altos Research LLC

Understanding Quartiles

This chart breaks down the local housing market into price-based quartiles. The market can look very different for different homes in price points. Breaking the market into quartiles helps us better understand how the market is behaving for the particular price range we are buying or selling in.

7-day Market Stats by Quartile for Single Family properties in
KANSAS CITY, MO as of 20 Dec 2013
Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM
Top/First $324,900 2,976 22,216 4.01 3.07 33 655 18 40 149
Upper/Second $149,900 1,624 9,750 3.30 2.19 41 655 17 41 112
Lower/Third $90,000 1,280 10,019 3.03 1.60 58 655 17 36 129
Bottom/Fourth $33,400 1,104 8,712 2.87 1.27 79 655 40 52 119
Data provided by and ©2013 Altos Research LLC

Market Trends — 7-day vs. 90-day Averages

The charts below provide two sets of numbers: 7-day averages and 90-day averages. The 7-day averages are provided to give a real-time snapshot of the market. However, just like the stock market, these numbers may vary drastically from week to week. The 90-day averagesmooths out the peaks and valleys, giving you a more historically accurate picture of the local market’s health.

Intermediate Chart

Median Price

In real estate, the median price is many times used in favor of the average price because median price will typically offer a more accurate picture of the local price levels. When averages are used, a few overly high-priced or extremely low-priced homes for sale can unfairly skew the average. Using median price is a better choice as it allows these extremes to cancel each other out, thus restoring the balance.