A charming city that captures the spirit of the midwest, Kansas City is an up-and-coming metropolis for all. While most of the city is located in Missouri, the borders bleed over into Kansas, which shares its namesake. It’s well-known that the middle of the country is characterized by lots of space, and property values in the midwest are inexpensive relative to the rest of the country. That being said, if you’re looking for a great investment opportunity – with a spacious yard that is still close to a thriving metropolis – then buying in Kansas City may be just what you’re looking for.
Kansas City is following much of the same trends as real estate markets all over the country. Property values are skyrocketing, and inventory is low because of all the demand. Homes in Kansas City are selling incredibly quickly, but they are truly a great investment. If you’re planning on living in the city, you want to find the right neighborhood where your home will be available, but you’ll still get to enjoy all the city has to offer. Keep reading to learn what to expect in the Kansas City real estate market for the coming year.
Low inventory is a trend that is prevalent in real estate markets across the country, and Kansas City is no exception. The limited supply of homes for sale does not seem to be increasing in 2022. In fact, the current total inventory in Kansas City is 2,304, which is -35.2% year-over-year
. This is most likely indicative of just how in-demand real estate in the area is and how well real estate markets across the country are doing. More people are looking to buy Kansas City homes, and as a result, they spend less time on the market, and there’s less supply overall. This may seem daunting if you’re a buyer; however, once you buy, you’ll be able to use this high demand to your advantage.
Especially if you’re an investor or are buying Kansas City homes solely with the purpose to flip, a seller’s market with low inventory is good for you. Once you buy, then you can start to take advantage of the high demand. Your Kansas City home will likely be much more valuable when you sell than when you buy, even if you only wait a few months to sell. In fact, real estate is so in-demand right now that you could put your house on the market and get an offer in a day. If you’re more patient, though, even just waiting a few days will likely allow you to get well above the asking price. In order to take advantage of this low demand, you’ll need to buy sooner rather than later.
Best neighborhoods to buy
It’s not just the city in which you buy but the neighborhood that affects your property value. A neighborhood's reputation and proximity to a good school district are huge determining factors for property values.
is right on the border between Kansas and Missouri on the Kansas side. The neighborhood has country clubs and golf courses all over the area, so it’s no wonder that real estate in Mission Hills is some of the most valuable real estate you can find in the greater Kansas City area. The current median listing home price is currently $1,324,500, which is an increase from $1,047,500 just three years ago. This increase in median listing home price is most likely indicative of increasing home values, a trend that looks likely to continue, as there are few signs that the increase in property values will slow down any time soon.
Mission Hill homes are close to the center of Kansas City, but the community is still considered to be in the suburbs. Indian Hill Country Club, Kansas City Country Club, and Mission Hills Country Club are all nearby, and they provide ample options for leisure. This is the perfect location for someone who wants an easy commute into the city but wants to take advantage of the suburbian amenities.
is just south of Mission Hill, and this community is also located right on the border on the Kansas side. If you’re commuting downtown, the drive will simply be a couple of minutes more than from Mission Hill. Prairie Village borders Indian Hills Country Club
, and the neighborhood features three parks to take advantage of, including Harmon Park, Franklin Park, and Meadowbrook Park.
Homes for sale in Prairie Village are perfect for anyone who wants to live in a walkable part of the city, but it’s still with a touch of natural beauty. Prairie Village real estate is more inexpensive compared to Mission Hill, with the current median listing home price being $364,500. However, this is up from $299,950 three years ago. Prairie Village real estate is also increasing in value at a rate that’s comparable to Mission Hill, so both communities are good options for anyone looking for a good investment opportunity.
Buying Kansas City real estate
If you’re ready to get started buying Kansas City real estate, contact a trusted and knowledgeable real estate agent
to help you navigate the process. An experienced agent will know the local market and will be able to help you find your dream home. If you’re selling, they’ll also help you secure the best possible return on your investment.
Inventory in the area is incredibly low right now, which is indicative of how in-demand the homes are. In order to take advantage of the low inventory, you need to buy sooner rather than later. Increasing median asking prices show how much more valuable homes in this area are becoming, so no matter where you buy, you’re likely to get a great return on your investment, even if you only hold onto your real estate for a small amount of time. Homes for sale in Mission Hill and homes for sale in Prairie Village are some of the most valuable in the city.
Looking for Kansas City real estate?
If you’re ready to buy or sell Kansas City real estate, reach out to one of the experienced agents on the Locate KC team
for expert assistance. The team at Locate KC would be happy to help you buy your dream home or sell your current one.