Kansas home sales rose by 1.0% percent in June 2010 compared to June of 2009, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 3,359 units in June, up from 3,327 units in 2009. In comparison, sales on a national level increased 9.8% for the month.
Across the state there were 19,213 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 it by the number of sales -- represents 5.7 months.
KAR President, Brian Jones, Broker/Owner of Jones Heritage REALTORS® in Pittsburg, Kansas noted that sales were up sharply in some markets across the state, while they fell in others. “The last of the tax credit-induced sales are working through the system, so we expect to see less activity through the rest of the summer. The good news is that overall, for the state of Kansas, the sales for June of 2010 were higher than 2009, even with the expiration of the tax credit.”
The statewide average sale price last month was $169,402, compared to $168,313 in June 2009. This represents an increase of 0.6%. The statewide median sale price in June was $151,800 compared to $150,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest fell 0.1% to $155,900. The national median existing home price was $183,700 which is 1.0% above last year. The median price is where half 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 for June was 4.74% in June compared to 4.89% last month, and 5.42% in June of 2009.
Kansas home sales rose by 22.6% percent in May 2010 compared to May last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 3,355 units in May, up from 2,737 units in 2009. In comparison, sales on a national level increased 19.2% for the month.
Across the state there were 18,801 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 it by the number of sales -- represents 5.6 months.
KAR President, Brian Jones, Broker/Owner of Jones Heritage REALTORS® in Pittsburg, Kansas said that sales should continue to be strong through June. "The backlog of pending sales is still quite large. It is important that Congress extend the Closing Deadline for the homebuyer tax credit so that underwriting delays do not keep otherwise eligible home buyers from receiving this credit. Approximately 180,000 home buyers across the country who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June, due to delays in the mortgage process. In addition, many potential sales are being delayed by an interruption in the National Flood Insurance Program."
The statewide average sale price last month was $157,822, compared to $161,928 in May 2009. This represents a decrease of 2.5%. The statewide median sale price in May was $149,900 compared to $146,613 for May last year. According to the National Association of REALTORS®, the median home price in the Midwest rose 2.2% to $150,700. The national median existing home price was $179,600 which is 2.7% above last year. The median price is where half 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 4.89%.
Kansas home sales rose by an amazing 42.5% in April compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 3242 units in April, up from 2,275 units in 2009. In comparison, sales on a national level increased 22.8% for the month.
Across the state there were 18,459 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 it by the number of sales -- represents 5.7 months compared to 7.6 months in March of this year.
KAR President, Brian Jones, Broker/Owner of Jones Heritage REALTORS® in Pittsburg, Kansas said that the dramatic increase in sales activity was driven by the homebuyer tax credit which required contracts to be written by April 30, 2010 and closed by June 30, 2010 in order to qualify. "We anticipate that closings over the next few months should rise across the state, which will be good for the economy at both the local and state levels."
The statewide average sale price of homes last month was $155,670, compared to $152,220 in April 2009. This represents an increase of 2.3%. The statewide median sale price last month was $145,000 compared to $138.450 for April last year. According to the National Association of REALTORS®, the median home price in the Midwest rose 5.8% to $146,400. The national median home price was $173,100, which is 4.0% above last year. The median price is where half 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 4.84%.
April 2010
Kansas home sales rose by 5.8% percent in March compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 2,375 units in March, up from 2,244 units in 2009. In comparison, sales on a national level increased 16.1% for the month.
Across the state there were 18,049 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 it by the number of sales -- represents 7.6 months.
KAR President, Brian Jones, Broker/Owner of Jones Heritage REALTORS® in Pittsburg, Kansas said that the increase in sales activity was driven by the state's three largest markets - Kansas City, Wichita and Topeka. "Even more important is the high number of pending sales that have been reported - driven by the homebuyer tax credit - suggesting that closings over the next few months should rise across the state, not just in the larger metropolitan areas."
The statewide average sale price of homes last month was $154,559, compared to $145,461 in March 2009. This represents an increase of 6.3%. The statewide median sale price last month was $140,250 compared to $135,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest rose 0.2% to $139,300. The national median home price was $170,700, which is 0.4% above last year. The median price is where half 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 5.07%.
March 2010
Kansas home sales fell by 12.3% percent in February compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 1,463 units in February, down from 1,669 units in 2009. In comparison, sales on a national level increased 7.0% for the month.
Across the state there were 16,567 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 it by the number of sales -- represents 11.3 months.
KAR President, Brian Jones, Broker/Owner of Jones Heritage REALTORS® in Pittsburg, Kansas said that while February brought brutally cold winter weather many markets across the state now are reporting increased activity among prospective home buyers. "The home buyer tax credit should bring a real boost to the market over the next several months along with the warmer weather."
The statewide average sale price of existing homes last month was $146,365, compared to $146,480 in February 2009. This represents a decrease of -0.1%. The statewide median sale price of existing homes last month was $132,900 compared to $133,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest fell 2.0% to $128,000. The national median existing home price was $165,100 which is 1.8% below last year. The median price is where half 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 5.21%.
Click on the link below to view a chart of sales across the state of Kansas for the month.
February 2010
Kansas home sales fell by 7.8% percent in January compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 1,237 units in January, down from 1,342 units in 2009. In comparison, sales on a national level increased 11.5% for the month.
Across the state there were 15,805 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 it by the number of sales -- represents 12.8 months.
KAR President, Brian Jones, Broker/Owner of Jones Heritage REALTORS® in Pittsburg, Kansas said the months' supply figures are high as is typical for January when new listings are coming on the market getting ready for spring, while sales lag behind waiting for warmer months. "Mortgage interest rates are expected to trend up later this year, so we expect activity in the markets to begin to pick up as soon as the weather turns warmer and buyers move to take advantage of available tax credits through April 30th."
The statewide average sale price of existing homes last month was $158,919, compared to $139,740 in January 2009. This represents an increase of 13.7%. The statewide median sale price of existing homes last month was $138,000 compared to $138,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest rose 2.4% to $162,700. The national median existing home price was $212,000 which is 2.6% above last year. The median price is where half 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 4.97%.
Click on the link below to view a chart of sales across the state of Kansas for the month.
January 2010
Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process.
Only about half of all real estate agents are REALTORS® -- the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they conduct appraisals; they operate in the United States and in other countries; some specialize in auctions; and others are buyer's representatives.
The Kansas Association of REALTORS® has an excellent resource for homebuyers and homesellers. Visit YourKansasHome.org for some great real estate tools and tips, including information about the $8,000 First Time Homebuyer Tax Credit. Find a REALTOR® now!
