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.
- Homes Absorbed translates as the number of homes sold.
- Newly Listed means the number of new homes brought onto the market.
- Total Inventory simply means the number of properties currently for sale.
- Days on Market is basically the average number of days a home can expect to be for sale before a contract is closed.
| 7-day Market Stats by All Quartiles for Single Family properties in KANSAS CITY, MO as of 20 Dec 2013 |
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|---|---|---|---|
| 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 |
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|---|---|---|---|---|---|---|---|---|---|---|
| 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.
Median PriceIn 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. |