Kansas City is the largest city in the U.S. state of Missouri, famous for its distinct barbeque cuisine and jazz heritage. Also nicknamed the City of Fountains, the Kansas City is now emerging as a growing market for real estate investments. The Kansas City real estate market is hot and in many ways the envy of housing pundits on both coasts. High demand and low inventory are driving up both home prices and speed of home sales in Kansas City.
Home sales were up about 7 percent and prices were up about 6 percent throughout the region in the previous year. Data from the Kansas City Regional Association of Realtors shows the average home price reached $229,306 in November 2019, a 4.6% increase over the average in November 2018. At the same time, the average days homes remained on the market dropped 4.8% to 40 days.