Hey everyone, it’s Lauren Miller-Nelson with the Nelson Home Group Kearney Strong, your local real estate expert, and if you’re curious about the real estate market in Clay County, you’re in the right place. Today, I’ll be diving into the latest market statistics to give you a clear picture of what’s happening in our area. Let’s get started!
Let’s start by taking a look at some key market statistics for Clay County. In March 2024, we saw a total of 317 closed sales, bringing the year-to-date total to 706. The average sales price in March was $367,196, with a year-to-date average of $356,283. Additionally, the average days on market until sale in March 2024 was 47, slightly higher than the 39 days in March of 2023. However, the percentage of the original list price received in March 2024 was 99.4%, down slightly from 101.3% in March 2023.
Let’s break down what that means for you, whether you’re buying or selling. Closed sales are a crucial indicator of market activity, and it’s encouraging to see that we’ve had a slight increase of 2.9% from 2023 to 2024. This demonstrates continued demand for homes in Clay County and a healthy level of transactional activity. However, it’s essential to keep in mind that market conditions can vary depending on various factors, such as seasonality and economic trends.
Another significant trend to note is the increase in the average sales price from 2023 to 2024. We’ve seen a substantial jump of 9%, indicating a strong appreciation in property values. This is great news for homeowners who may be considering selling, as it suggests that they may be able to fetch a higher price for their property compared to previous years.
On the inventory front, we’ve observed a decrease of 10.6% from 2023 to 2024. This decline in inventory means that there are fewer homes available for sale on the market. While this may create a sense of urgency among buyers, it presents an opportunity for sellers to command higher prices and potentially receive multiple offers on their property.
Looking at pending sales, we see that there were 357 pending sales in March, bringing the year-to-date total to 872. Pending sales are an indicator of future closed transactions and can provide valuable insights into market momentum and buyer activity.
Now, let’s take a deep dive into the latest market statistics for this area, and analyze what that means for both buyers and sellers.
Let’s start by examining some key market statistics for the Kearney School District. In March 2024, we saw a total of 26 closed sales, bringing the year-to-date total to 57. The average sales price in March was $406,462, with a year-to-date average of $433,535. Additionally, the average number of days on market until sale in March 2024 was 80, compared to 69 days in March 2023. However, it’s essential to note that the percentage of original list price received in March 2024 was 98.1%, slightly lower than the 99.9% received in March 2023. This indicates that while prices are slightly lower, homes are still selling close to their list price. Taking a look at new listings in the Kearney School District, we see that there were 37 new listings in both March 2023 and 2024, bringing the 2024 year-to-date total to 87. While the inventory level remains relatively stable, it’s essential to keep an eye on new listings as they enter the market.
What does this mean for buyers? Well, the lower average sales price compared to last year could present an opportunity for buyers to find more affordable homes within the Kearney School District. With current inventory levels, it’s a good idea to watch out as new listings hit the market, as it presents fresh opportunities to find their dream home. Additionally, buyers may have a bit more negotiating power, as homes are selling for slightly less than their list price. Overall, it’s still a competitive market, so buyers should be prepared to act fast and make strong offers when they find a home they love.
Now let’s look at what this means if you’re thinking about selling. The slightly lower average sales price may seem concerning at first glance. However, it’s important to remember that homes are still selling for nearly 98.1% of their original list price, indicating that there is still strong demand in the market. Additionally, while the average days on market have increased slightly compared to last year, homes are still selling relatively quickly. With a stable inventory level, it’s crucial to stay competitive by pricing your home appropriately and ensuring it stands out among the competition. This suggests that the market is still healthy, and sellers can expect a reasonable turnaround time when listing their homes.
And there you have it – a comprehensive overview of the market statistics for Clay County. As always, it’s essential to consult with a trusted real estate professional for personalized advice and guidance tailored to your specific situation. Whether you’re buying, selling, investing, or just curious about real estate, I’m here to help. If you have any questions or would like to discuss your real estate goals further, don’t hesitate to reach out at 816.804.8587.
