Kansas City Foreclosure Statistics

Kansas City Cash Home Buyer

  • There are 443 properties in foreclosure in Kansas City
  • One out of every 6,270 properties is in foreclosure
  • Average sales price is up 7.6% from last year
  • The median sales price is $160,180 in Kansas City
  • The number of bank-owned properties is up 300 percent
  • Kansas City currently has 29 short sales
  • Kansas City, Kansas has 99 foreclosures for sale
  • Jackson County, Missouri has 366 foreclosures for sale
  • Kansas City usually has 3,033 homes for sale

443 properties in Kansas City are in some stage of foreclosure. This means that either the homeowner has defaulted on the mortgage but still owns the property; the property has been taken by the bank; or the property has been placed up for auction by the bank. In March 2020, the number of foreclosure filings was down 13 percent from March 2019.

Kansas City StatisticsThe percentage of properties in foreclosure varies in the Kansas City, Kansas market (this source was for Kansas, not Missouri). Taken by ZIP code, it ranges from a high of 1 in every 3,794, to a low of 1 in every 11,998. Overall, it averages out to 1 in 6,270 properties. This rate is about equal to both the countywide and the statewide average for properties in foreclosure, but it is one-third that of the national average.

In March 2020, the effects of the coronavirus pandemic had begun to hit the Kansas City housing market, following the stock market drop the month before. Still, prices were up over last year: the median sales price was up 6.9 percent to $208,500. But the effects of the pandemic could already be seen in the change in supply of homes: down 21.7 percent as scared homeowners decided not to put their homes on the market, and as newly-built homes sat uncompleted. Surely these trends will continue into the near future.

Since 2015, the median sales prices for a house in Kansas City has increased 43 percent, from $112,000 to $160,180. This makes Kansas City real estate both affordable and one of the fastest-appreciating markets in the country. The average price is even higher, at $229,306. This price is up 4.6 percent over last year at the same time. Analysts predict that prices will continue to rise, though by a slightly slower rate: 3.9 percent in the next year. The market will continue to be a seller’s market. Right now, the average house only spends 40 days on the market before it is sold. This is down 4.8 percent from last year. The market is being helped by the low rate of foreclosure in Kansas City. Only 1 percent of mortgages are delinquent in any way, and only 475 properties are in some stage of foreclosure. This website took its data from February 2020, and in February, the number of foreclosures was actually up 43 percent from February 2019 (compared to March, where it was down). Jackson County, covering Kansas City and its southern suburbs, is roughly in line with the national average when it comes to the percentage of houses in foreclosure. Kansas City’s strong real estate market is helped by the overall Kansas City economy: the unemployment rate in December 2019 was only 3.2 percent, far lower than the national average. Obviously, that number is higher now, during the pandemic, but Kansas City started from a position of strength.

While foreclosure filings dropped in March 2020 by 57 percent compared to February, the number of bank-owned properties rose 300 percent compared to March 2019. Bank-owned properties now make up 49.3 percent of the Kansas City foreclosure market, with the other 50.7 percent being auction inventory. Bank-owned properties pose an opportunity for investors, as a bank will not want to assume the costs of carrying property for long, and thus may be willing to sell at a lower price than a traditional seller. In some ZIP codes in Kansas City, Missouri, more than 1 in 1000 properties are in foreclosure; the highest rate belongs to ZIP code 64125, with 1 in 834 homes in foreclosure. That rate is significantly higher than the national average, which this source says may make this area a good place to consider investing, because prices may be artificially low. Prices may fall even more due to the economic impacts from the pandemic, though the source notes that prices are expected to rebound to their pre-pandemic levels within a year. The best time for low prices is expected to be in the next four to six months.

This source lists properties in Jackson County, MO that are in foreclosure, default, or are the subject of a short sale. A short sale is when the property owner owes more on the mortgage than they expect to sell the house for, and the bank agrees to forgive the remainder of the debt. Short sales have the advantage for the bank that the bank never has to take possession of the house, the house never goes unoccupied, and the seller has an incentive to get as high of a price as possible (the bank does not have to agree to a price that is too low). But short sales ultimately hurt the lender, because they do involve a loss of capital—they are not being paid back everything that they are owed. Properties for short sale range in price from $14,000 for a two-bedroom, one-bathroom house in ZIP code 64132, to $210,000 for a five-bedroom, three-bathroom house in ZIP code 64138.

This source lists properties in Kansas City, KS that are in foreclosure and for sale. The source lists 99 properties. The newest property was listed today: a six-bedroom, two-bathroom house in foreclosure and selling for $26,500. On the other hand, the oldest property was listed 676 days ago: a three-bedroom, one-bathroom house selling for $127,970. The most expensive property is selling for $479,094, and is a four-bedroom, three-bathroom house in ZIP code 66109.

This source lists properties in Jackson County, MO that are in foreclosure and for sale. The newest property here was also listed today, echoing what the other sources said about foreclosure filings still happening in Kansas City. It is a four-bedroom, four-bathroom house selling for $716,000. Even in foreclosure, this house is still selling for approximately four times the median home price in Kansas City. On the other hand, a property listed two days ago is selling for $33,000—less than one-fifth the median home price. There are foreclosures in Jackson County for every budget (though the house selling for $33,000 does not look inhabitable, while the $716,000 house is move-in ready).

This source averages 3,033 homes listed for sale in Kansas City, Missouri while it currently lists 36 homes in foreclosure. This backs up other sources that said that foreclosures made up about 1% of the real estate market in Kansas City. Prices on this source range between $486,250 and $156,702, so this source is not picking up all of the foreclosures listed by other services.

Sell distressed property in Kansas City to cash home buyersSelling older homes in Kansas City MO