Zip Code 64114 - South Kansas City Real Estate Market Report: 4 Year Comparison 2007-2011
We have a market in south Kansas City that appears to be on an upswing. The good news includes the fact that sales are creeping back up in Kansas City's 64114 zip code. The range over the last 4 years shows a market in flux, and at it's height with the April 2010 First Time Homebuyer Tax Credit. So, the federal tax credit helped homeowners in the 64114 zip code sell their homes. But, now with wonderfully low interest rates, and a somewhat depressed market (in some areas) with foreclosures and short sales impacting prices, buyers are able to get what they consider great deals on homes.
Homebuyers were, and continue to be lucky in 3 ways:
1. They got up to $8,000 if they qualified and purchsed a home back in 2010
2. They also get to take advantage of low home prices
3. They were (and are) able to get low mortgage loan interest rates (around and under 4%).
After a peak in August & September, and while the number of new listings are dropping, closed sales were higher in December 2011 than they've been since July 2011. That's good news for sellers and even homebuyers that the real estate market in the south including Red Bridge, Bridlespur and Waldo in south Kansas City appear to be on the upswing a bit and stabilizing. A stable market is a good market! For more details on homes for sale, selling your home - or just more information on the south Kansas City real estate market, please feel free to contact me.