Mayo Auction & Realty Kansas City Housing Report - January 2022

If you would like to talk about the advantages of selling your home at auction give us a call at 816.361.2600 or contact us by email.

January 2022 Home Prices in Kansas City

The Kansas City Regional Association of Realtors January 2022 Report shows that the average home price in the Kansas City area was $284,354, up 14.8% from $247,755 in January 2021.

Days on market until sale was down 13% from 30 days in January 2021 to 26 days in January 2022.

Inventory (the number of homes listed for sale) is very low at 1,926 homes, down 38.6% from January 2021. Supply is also down 44.4% to 0.5 in January 2021.

Chart Courtesy of Kansas City Regional Association of Realtors

Kansas City area home prices are now at an all-time high, as is illustrated by this chart.

Mortgage Rate Expectations For February in Kansas City

According to data from Freddie Mac released on February 10th, the 30 year fixed-rate mortgage stood at 3.69% (up from below 3% in November 2021), and increased 0.15% since last month. Higher-than-expected inflation rates have caused the Fed to consider tightening the money supply sooner than expected. In order to control inflation, the fed will end its bond-buying operations and likely increase interest rates in March 2022 either 0.25% or 0.50%.

Chart Courtesy of Freddie Mac

For Home Sellers in the Kansas City Area

What does this all mean for someone looking to sell their home in Kansas City? There has never been a better time! Home prices are at an all-time high and the supply of homes for sale is very limited. Even though mortgage rates have risen in recent days to 3.69%, we are still at historical lows. These low rates increase the number of potential buyers.

To learn the advantages of selling your home at auction, give us a call at 816.361.2600 or contact us by email.