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 Housing Costs
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| Low housing costs are one of the
city's shining points. According to the National Association of Realtors, the median price
for new and existing homes in the Kansas City metropolitan area for the first quarter of
1997 was $91,000. Compare that number to other markets in the midwest and the cost picture
becomes clear. St. Louis has a cost of $104,000. Detroit sits at $114,000 for a home. In
Chicago, the most expensive market in the mid-west, the average price is $140,000. In
1998, the cost of homes in Kansas City increased about 8%. The price is higher when you only look at homes that are less than 5
years old. By Kansas City Metropolitan Association of Realtors figures, the average price
for a new home in 1995 was $93,000 and in 1996 it was $97,250. In 1998, the average price
is approximately $112,000. |
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Why Are Costs Low?
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| Prices are kept low for a
number of reasons. There are, at any given time, approximately 9,000 homes on the market
in the area. Also, helping keep prices down is the affordability of building new homes Those low costs are fueled by competition in the market
place. There are nearly 1,000 independent home builders in the metro area. This obviously
creates fierce competition between builders. |
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As a result, builders must have
reasonable prices while providing excellent service. It keeps costs for new homes
approximately 25 to 50 percent lower than in other midwestern markets Also, making home prices more reasonable is the relatively
low costs of buying a lot where a new home could be built. It will cost you over $10,000
less to buy a lot here than in the city of our closest competitor. |
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The
Land of Oz - A Best Bet
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| Kansas City really is a best bet when
you're looking for a cost effective place to call home. Whatever it is you like, from
world-class shopping and professional sports to changing seasons and friendly residents,
it can be found here. The good news is, it's inexpensive but remains a truly great city. My team and I will help you every step along the way when
you are ready to buy or sell real estate in the Kansas City metro area.
Joni Holcomb, Sharon Sigman, Kevin Casey,
Mitzie Price, Jeff Okum
Sandie Golden and Kori Cummings, both
former teachers, have joined my team as buyer's agents. |
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