KC Real Estate Market Update - June 2024

We're well into spring and per usual, Kansas City’s real estate market is on fire. 

For those looking to buy a home, the city still has very low inventory and high demand, especially in the center of the metro area. Most buyers are loving homes that are updated and ready to move in, and are less enthused about homes that may need a little work. If you’re open to making some updates yourself, this could be a great time for you to buy!

For those selling homes, most are selling within 2-5 days (depending on location). If your home needs a little updating, we're happy to advise you on things you can do to maximize the sale of your home! 

Interest rates are hovering around high 6% to low 7%, and this is likely to be a common range for at least the next 3-6 months. I know we've been spoiled with historically low rates in recent memory, but I don't recommend waiting in the hopes that those rates will make a comeback. Buy what you can afford and plan to refinance if/when the rates drop.

Here's a quick video discussing the current market:

As always, Reach out if you have any questions! We are always happy to help!

Thanks for reading,

Ferryl