Kansas City, MO: Real Estate Market & Trends 2016

The Kansas City real estate market continues to marinate in the first-half of 2016, much like the slow-smoked style barbecue it’s known for. Home prices and appreciation rates are on pace with the national average, home affordability remains dominant as ever, and an ever-improving economic landscape continues to enhance KC’s outlook moving forward. That said, the median home price for Kansas City real estate was $163,300 during the first quarter of 2016, slightly behind the national average of $215,767. Although price growth has slowed as of late, home prices are actually up from a year ago, and the Kansas City real estate market should continue to see decent growth in the second half of 2016.

Kansas City, MO Real Estate Market Statistics:

The first quarter witnessed the Kansas City real estate market appreciate at rates very similar to the national average. The one-year appreciation rate for real estate in Kansas City was 6.7 percent compared to the national average of 6.1 percent. All in all, price appreciation and principle payments in the last three years have helped boost total equity growth for Kansas City real estate investors and homeowners. For those considering Kansas City real estate investments, the following provides a breakdown of appreciation rates in previous years:

Homes purchased in the Kansas City, MO housing market one year ago have appreciated, on average, by $12,868. The national average was $15,781 over the same period.

Homes purchased in the Kansas City, MO housing market three years ago have appreciated, on average, by $35,985. The national average was $49,356 over the same period.

Homes purchased in the Kansas City, MO housing market five years ago have appreciated, on average, by $47,594. The national average was $68,727 over the same period.

Homes purchased in the Kansas City, MO housing market seven years ago have appreciated, on average, by $50,539. The national average was $59,758 over the same period.

Homes purchased in the Kansas City, MO housing market nine years ago have appreciated, on average, by $36,094. The national average was $16,435 over the same period.