Kansas Housing Market Stats – October 2015

2015-10 stats card

Kansas home sales rose by 1.3 percent in October 2015 compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 2,994 units in October, up from 2,956 units in 2014. In comparison, sales on a national level rose by 3.9 percent for the month.

“Housing markets across the state continue to post solid gains,” said KAR president, Todd Woodburn with Coldwell Banker Plaza Real Estate in Wichita. “Sales across the state last month were higher than any October since the onset of the housing crisis.”

Across the state there were 12,942 active listings at the end of the month. Supply of new and existing homes on the market – which is determined by taking the number of active listings and dividing by the number of sales – represents 4.3 months.

The statewide average sale price last month was $183,035, compared to $176,185 in October 2014. This represents an increase of 3.9 percent. The statewide median sale price last month was $153,000, compared to $144,628 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest rose by 5.7 percent to $172,300. The national median existing home price was $219,600, which is 5.8 percent above last year’s figure. The median price is the value for which half of the homes sold for more and half sold for less.

According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage last week was 3.97 percent.

KAR – The Voice of Real Estate in Kansas

The Kansas Association of REALTORS® (KAR) provides members with applications, ideas, knowledge, and tools to help them succeed in real estate. Members can learn how to apply technology and productivity tools to grow their business; acquire knowledge about real estate trends, legal issues, legislation and regulation to gain a competitive advantage in the marketplace and connect with the best in the business to share knowledge and experience. This monthly statewide market report is provided so members can deliver the most accurate information to their clients and customers.

Download the full October report here

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