The Spring home selling season is upon us and sales in the Kansas City market are up over last year. If you have been waiting to sell your home, now is the time. If you are waiting to buy a home, now is the time. Let me repeat, Now.Is.The.Time.
According to the Kansas City Regional Association of Realtors® (KCRAR) sales of existing homes in January 2012 were up 15% over January 2011. The average price for an existing home during this period was $136,147 - up 5% from January 2011.
Wait, review that statistic again...Sales prices on existing homes were HIGHER than the year before. What is going on?
Pretty simple. It's a matter of supply and demand. January 2012 inventory of existing homes in our area was DOWN 14% over January 2011. So, more buyers, fewer homes for sale, bump in prices.
Good news for the local economy and good news for home sellers. Home buyers still sitting on the fence need to SERIOUSLY make a decision. Interest rates are still at historic lows, but borrower costs (Changes to FHA Loans) are scheduled to rise April 1, 2012.
So, again, if you are thinking of selling your home, get it ready and get it on the market. (contact us here for some tips: Seller Information)
If you are thinking about buying a home, get your financial information together for a mortgage pre-approval (contact us here for some tips: Buyer Information)
We'd love to help you buy or sell a home anywhere in the Kansas City area.
Morgan Rathmel (913) 269-2075 mrathmel@gmail.com
Marianne Damon (913) 221-5272 mariannedamon@gmail.com
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