Local Q1 real estate market report
By Andrew Bash
It’s no secret that the housing market has been interesting to say the least as we left 2020 behind and moved into 2021!
Along with the rest of the country, real estate sales were essentially at a standstill a significant portion of last year due to the COVID-19 pandemic. The real estate market in the first quarter is typically a good snapshot of what we can expect for the rest of the year.
Here is what the numbers show:
- In the first quarter of 2021, we have consistently seen increasing housing prices and low inventory. Contributing to demand are consistently low interest rates — the average hovering around 3.1% — as well as buyer willingness to pay more for what they want. The area encompassing the KC metro saw a more than 64% drop in the number of houses on the market between February 2020 and…