February 2025 Basehor Market Update

Hello Current and Aspiring Basehor Residents!

Let's take a closer look at the current real estate market data to see how these metrics are interconnected and what they mean for both buyers and sellers.

First off, we have a Months Supply of Inventory of 3.16, which indicates that there is a relatively low amount of available homes for sale compared to the level of demand. This is good news for sellers as it suggests a competitive market where their properties may sell quickly.

The 12-Month Change in Months of Inventory shows a significant decrease of -28.02%, meaning that the supply of homes on the market has been decreasing over the past year. This further reinforces the idea of a tight market where sellers may have the upper hand.

The Median Days Homes are On the Market is 99, which is a relatively short amount of time. This means that homes are selling quickly, which is another positive sign for sellers.

The Sold to List Price Percentage is 99.3%, indicating that homes are typically selling very close to their asking price. This suggests that sellers are pricing their homes competitively and buyers are willing to pay close to the asking price.

Lastly, the Median Sold Price of $402,450 gives us an idea of the average price at which homes are selling. This can be useful for both buyers and sellers to understand the current market value of properties in the area.

Overall, these metrics paint a picture of a strong real estate market with low inventory, quick sales, and competitive pricing. For sellers, this may mean that now is a good time to list their property, while buyers may need to act fast and be prepared to make competitive offers. It's always a good idea to work with a knowledgeable real estate agent who can help navigate the current market conditions and make the most of your buying or selling experience.