I look at price, inventory, and pace before I call it.
When you're deciding how hard to negotiate, I think the real question is how much room the market gives you without overreaching. Last month in Kansas City, KS, supply stood at 2.05 months, which tells me there is enough activity to keep both sides paying attention.
Last month, Kansas City, KS sat in seller's market territory with 2.05 months of supply. At the same time, homes closed at 99.8% of asking, so the market was still rewarding realistic pricing more than aggressive haggling.
For a buyer, that means I would stay disciplined and make my first offer count instead of assuming the market will do the work for me. For a seller, it means I would pay close attention to list price from the start because the market is still close enough to asking that overpricing can slow you down.
I would do two things next. I would compare the current asking price against the recent sold price trend before I write an offer. I would also watch the typical 39-day sale pace in Kansas City, KS so I can judge whether a home is moving normally or sitting longer than it should.
