Grain Valley, Missouri is located in Jackson County and has a population of just under 13,000 people. A 2005 study ranked Grain Valley number 2 of all Kansas City Suburbs based on housing choice, and number of homes priced between $50,000 and $350,000. The Grain Valley School District is locally and regionally recognized for the many opportunities and programs it provides to its students.
The real estate landscape in Jackson, MO has seen a tide of changes in November 2023, and we're here to break down the waves. Let's dive into the key metrics that define the housing market and explore what they mean for buyers and sellers alike.The number of closed sales stands at 787, reflecting a 5.8% decrease from the previous period's 741. This dip, while noticeable, is part of the natural ebb and flow of the market. The historical average sales price tells an intriguing story, showing a 9.5% increase from $267,341 to $292,810.The average sales price has surged by 9.5%, reaching $292,810. On the other hand, the median sales price, often a more reliable indicator, has seen an 11.1% increase, rising from $225,000 to $250,000. These numbers suggest a growing market, potentially influenced by factors such as demand and property values.The average days on market until sale has increased by 12.9%, from 31 to 35. While this may indicate a slight slowing down in the pace of transactions, it's important to consider this in the context of the broader market dynamics.Sellers are receiving 96.8% of the original list price, a minimal decrease of 0.1%. This suggests a balanced negotiation climate, with buyers and sellers finding common ground.Pending sales have experienced a 3.2% increase, standing at 654. However, the inventory has decreased by 13.0%, dropping from 1,928 to 1,678. This reduction in supply may impact the overall market dynamics, potentially influencing pricing and competition among buyers.The supply, calculated at 1.9, has seen a slight increase of 5.3%. This metric, coupled with the decrease in inventory, emphasizes the delicate equilibrium between supply and demand in the current market.Understanding the nuances of the local housing market is essential for both buyers and sellers. While the November 2023 snapshot presents specific figures, it's crucial to consider broader economic trends, interest rates, and local influences that may shape the market in the coming months.In conclusion, the Jackson, MO housing market is a dynamic ecosystem with its own set of currents and tides. Navigating these waters requires a keen understanding of the data presented, a consideration of external factors, and the guidance of experienced real estate professionals. For the most accurate and up-to-date information, consult with local experts who can help you ride the waves of change in the ever-evolving real estate market.