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Kansas City Market Stats - July 2021

August 26, 2021

The market stats below offer a look at local key home trends in July 2021 compared to last year. The report is provided by the Kansas City Regional Association of REALTORS® and all data is from Heartland Multiple Listing Service.

For existing homes in the Kansas City Metro area:

• Inventory decreased 25.1% to 3,617
• Supply decreased 31.3% to 1.1

For new homes in the Kansas City Metro area:

• Closed sales decreased 30.8% to 337
• Average sales price increased 9.5% to $468,955
• Median sales price increased 16.1% to $446,900
• Days on market decreased 57.4% to 63
• Percent of original price received increased 3.1% to 104.3%
• Pending sales decreased 63.5% to 206
• Inventory decreased 40.2% to 735
• Supply decreased 44.4% to 2.0

According to the National Association of Realtors®, in both June and July 2021, existing home sales rose 2% nationally with the biggest increase occurring in the Midwest. Yet these sales are now beginning to slow as inventory comes to a plateau.

As discussed in our blog, new home construction steadily rose at the beginning of 2021 after 13 years of undersupply. While existing home inventory slowly declines, new homes inventory and supply are continuing to steadily increase from the previous four months.

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