“A lack of supply continues to be an issue as we start the new year,” said KAR president Jon Fort with Arc Real Estate in Garden City. “The number of homes available for sale is a third lower than it was prior to the onset of the pandemic.”
January 2024 Market Highlights
- Home sales in Kansas fell by 6.2% in January 2024 compared to the same period last year. National sales fell with sales falling 1.7% over 2023.
- Home prices continue to increase across the state. The statewide average sale price in January was $277,031 a 4.9% increase compared to last year. Midwest prices rose 7.6% and US prices rose by 5.1%.
- Mortgage rates are rising again. The national average commitment rate on 30-year conventional mortgage for the week ending February 16, 2024 was 6.90%. View Freddie Mac’s report.
To view December stats, click here.
For national perspective, click here to watch NAR’s new “Housing Minute” video update.
KAR – The Voice of Real Estate in Kansas
For 100 years, the Kansas Association of REALTORS® has been the “Voice for Real Estate” in Kansas. Working for Kansas property owners, the Association provides a facility for professional education, research and information exchange among its 10,000 member licensees, as well as to consumers, government and the media. REALTORS® agree to abide by a strict code of ethics, and are held to a high ethical standard by their peers through their association membership. The term REALTOR® is a federally-registered trademark owned by the NATIONAL ASSOCIATION OF REALTORS®, and denotes membership in the non-profit Association.
