What Did I Miss? 1-28-20

How’s the Market?

Clay/Ray Counties
Clay/Ray County sales were up 11.4% for the month. Units were at 283. Year to date, unit sales are down 1.5%, with 5,586 units this year versus 5,669 last year. The average sales price for the month was up 9.2% from last year, with an average price of $231,682. Year to date, the average price is up 6.7%. The average price is $230,970, versus $216,391 last year. New listings were down 1 unit to 267 or 0.4% from last year’s 268 units. Inventory is down
16.9% from last year and is running at 791 units. Inventory is down 138 units from last month.


Platte County
Platte County sales were down this month by 4.6% from 2018. Units were at 103 versus 108 last year. Year to date, unit sales are down 12.8%, with 1,993 units this year versus 2,285 last year. The average sales price for the month was up 17.4% from last year, with an average price of $311,593. Year to date, the average price is up 14.3% from last year. The average price is
$298,390 versus $260,989 last year. New listings in Platte County were down 9 units from last year’s 107 units. Inventory decreased 24.9% from last year and is running at 358 units. Inventory is down 30 units from last month.


Heartland
Sales for the entire Heartland area were at 2,042, up for the month by 7.4%. Year to date, sales were up 0.3% for a total of 39,092 for 2019. The average sales price for the month was up 4.4% from last year, with an average price of $254,559. Year to date, the average price is up 5.3%. The average price is $252,403, versus $239,798 last year. New listings were down 69 units to 1,925 units, down 3.5% from last year. Inventory decreased 14.2% from last year and is running at 6,539 units. Inventory is down 941 units from last month.



Contingency for Sale Form

The form we have in Dotloop has the initial boxes missing from page 1. Just an FYI—this was not our error, the KCRAR form is incorrect, too. KCRAR has decided to just leave it and fix it in 2021. 

NAR Profile of Buyer and Seller

There are some great findings in the 2019 report that culled data from nearly 6,000 consumers who bought or sold their primary home between July 2018 and June 2019. Let’s start with what buyers shared:

  • The typical buyer was 47 with a median (middle of all responses) household income of $93,200. It took them 10 weeks for their search while looking at a median number of nine homes.
  • Sixty-one percent of recent buyers were married couples, while single females made up 17 percent compared to just 9 percent single males.
  • Eighty-three percent of all purchases were of single-family detached homes, followed by townhomes/row houses (6 percent). Interestingly, only 13 percent of purchases were new construction
  • First-time buyers made up 33 percent of the business, the same as last year. They financed 94 percent of the home compared to 84 percent for repeat buyers.
  • Of all homes purchased, the median distance between the prior and current home was 15 miles.
  • The typical home purchased was built in 1990 and had 1,850 square feet with three bedrooms and two bathrooms.

Here is what sellers shared:

  • Their final sales price was within 99 percent of the list price and the home stayed on the market for a median of three weeks.
  • Thirty-four percent of sellers utilized incentives led by home warranty policies and assistance with closing costs.
  • Moving closer to friends and family was the most cited reason for moving (16 percent), followed by a need for a larger home (13 percent) and job relocation (11 percent).
  • The median seller recorded a $60,000 gain over their original purchase price.
  • The typical seller was 57 years old with a median household income of $102,900.
  • Sellers stayed in their home for 10 years

See all highlights here!

T-Mobile

T-Mobile is now offering Better Homes and Gardens Real Estate brokers and agents their best discount program – Amplified. With the Amplified program, save up to 33% on their premium plan for all lines on your account!

To take advantage of all special offers available, call 1-888-256-5541 and use promo code 11051TMOFAV. Questions? Email Gail.Vassalluzzo1@T-Mobile.com

Kansas Advertising Changes

Check out the KREC Newsletter for changes.

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