Report: Home Prices Soar in Kansas City, All 50 Most Populous Metro Areas

Posed January 28, 2025

A new report from Redfin shows home prices have been increasing in the Kansas City metro, along with every major metropolitan area, since 2022.

Home prices have risen from a year earlier in all 50 of the most populous U.S. metro areas in December, thats the first time since May 2022, according to a report from Redfin published Jan. 21. In December 2023, just 41 metros increased in their home prices.

Kansas City experienced a 9% year-over-year change, with the median sales price of a home price of a home in the metro reaching $327,000. Kansas City was also the 11th highest year-over-year percentage change among the other metros.

“Affordable housing havens have become harder and harder to come by; even places that saw some price relief last year, like Texas and Florida, are now seeing prices tick back up,” Redfin senior economist, Elijah de la Campa, said. “Many people looking to move this year will likely opt to rent because it’s the more affordable option and rental affordability is expected to improve as more supply comes on the market.”

During the pandemic when record-low mortgage rates affected the market home prices soared, In April 2023, home prices rose in only 19 metro cities, the lowest since 2012. However, as buyers have grown accustomed to elevated mortgage rates more home prices are experiencing a price increase, according to the report.

In December, home prices jumped 6.3% year over year with a median sales price of $427,670.

Cleveland, Ohio had the largest year-over-year change with 15% and a median sales price of $229,900. On the other end of the spectrum, Tampa, Florida experienced the lowest change at 0.5% and a median sales price sitting at $377,000.