Kansas home sales fell by 7.2 percent in November 2015 compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 2,219 units in November, down from 2,391 units in 2014. In comparison, sales on a national level fell by 3.8 percent for the month.
“The November drop in sales mirrors what happened nationally,” said KAR president, Todd Woodburn with Coldwell Banker Plaza Real Estate in Wichita. “Despite this lull, sales so far this year are up 7.5 percent over 2014.”
Across the state there were 11,509 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 5.2 months.
The statewide average sale price last month was $185,979, compared to $178,921 in November 2014. This represents an increase of 3.9 percent. The statewide median sale price last month was $150,000, compared to $148,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest rose by 5.3 percent to $169,300. The national median existing home price was $220,300, which is 6.3 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 3.96 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.
