August 2025 Residential Market Update Highlights for the Kansas City Region

Back to School

As backpacks come out and summer winds down, the market is doing its own reset. Inventory is still loosening, buyers remain active, and pricing is settling into the usual late-summer pattern. Here’s what moved—and what didn’t—in August.

Prices: Year-over-Year Strength Holds

• August median sales price (resale): $312,000

• +5.8% vs. August 2024

• Month-to-month, prices eased $13,000 from July’s $325,000, which is typical seasonality.

• Importantly, year-over-year gains have posted 13 straight months, ranging from +3.2% to January’s peak at +11.6%.

New Listings: Still Up, But Momentum Cooled

• August listings: +3.1% vs. August 2024

• Third-weakest growth month of 2025 (only November and February were softer).

• Year-to-date, ~1,900 more homes have come to market than last year—supply is improving, just at a slower clip in August.

Demand: Contracts Outpace Closings

• Contracts written (August): +10.85% YoY

• August closings: +2% vs. August 2024

• YTD closings: +460 vs. 2024

  Contracts were strong again in August, but the expected jump in closings didn’t fully show—setting up a likely September bump. Softer mortgage rates in the low-6% range helped contract activity. A post-Fed move nudged 30-year rates up about 0.25%, and they’re currently hovering in the mid-6% range (~6.4%).

What’s Next

Keep an eye on inflation, wages, and jobs—plus any Federal Reserve cuts. If economic data cooperates and the Treasury–mortgage spread narrows, affordability could improve into fall.

Engel & Völkers Kansas City

913-900-0001