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A lot of clients and friends have been contacting me and asking about what our market looks like here in Kansas City. Last year was great year compared to the four or five years prior, and I'm expecting another positive year for real estate in our city.
What's Happening in Kansas City:
- There is a shortage of homes for sale: A tough winter, especially in February, initially slowed the market down.
- The upside to this is that there will be some pent-up demand soon and sellers will swarmed with potential buyers that were stopped from participating in the market during the rough winter months.
- We need more sellers, and our goal here at the Glennon Group is to educate our sellers in order to make their real estate experience as smooth and profitable as possible. It's much easier to sell if you know the market well.
- With the large amount of buyers competing for properties, home values will likely be driven higher.
- Buyers will have a tougher time finding homes that they're looking for with a lack of inventory.
- New Home sales will surge because of a lack of inventory.
- The foreclosure market has been cut in half.
- There are a lot of foreclosed properties out there that are not on the market, which I refer to as zombie foreclosures or phantom inventory.
If you have any questions, concerns, or inquiries regarding Kansas City real estate, then please give me a call at 1-800-686-5088 or shoot me an email at chip@chipglennon.com
