Schools are king, Grammond says: “The areas where we’re seeing the highest offers and the largest offers above the listing price are still driven by school districts.”īut in an era of exploding home prices, how that’s shaken out has been interesting. In some ways, the Kansas City market has not changed that much. That includes the zip code that our data put at the top of the list, which is surrounded on three sides by top-twenty zips but isn’t itself among them. Most of the neighborhoods seeing the biggest booms are not among the twenty wealthiest in the metro area, but they’re often bordered by one or more that are. To make our final list, we removed all zip codes where the average prices were below the metro’s median price of $260,000 and have combined several areas where zip codes share borders and similarities. We worked with Taylor Marr, Redfin’s deputy chief economist, to crunch the numbers and weigh the formula for our local market. The data team at Redfin maintains a list of the hottest zip codes in the country based on the speed of sale, increase in price and other factors. That’s made for an ultra-competitive climate, where prices are exploding in areas traditionally considered the most desirable and where desperate buyers are looking for homes in areas they’d never pictured themselves living.įor this story, we wanted to look at the areas where there’s been the biggest boom. Grammond says, and Redfin’s data shows, there are now multiple offers on any property that goes on the market, regardless of location. “There’s no area that’s safe in the Kansas City metro.” “Right now, there’s even less inventory than there was in 2020, at the height of it, when everybody was like, ‘Oh my gosh, there’s no inventory,’” she says. Not only has it not slowed down-it’s arguably accelerated. Then, with interest rates having dropped, it just became prime time, and it hasn’t slowed down since then.” “Before you know it, we were just super busy with people wanting to buy again. “For about two weeks it got real quiet,” Grammond says. That lasted a matter of days, says Jo Grammond, a buyer’s agent with Kansas City’s Redfin office. The pandemic had just begun, and widespread uncertainty briefly-very briefly-brought the housing market to a halt. Two years ago, right around this time, the real estate market was at a standstill.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |