“Home prices continue to rise despite the higher mortgage rates this Fall,” said KAR president Andrew Mall with Link Realty in Prairie Village. “In October, 54 percent of all sales sold for a price at or above the original asking price.”
October 2022 Market Highlights
- Home sales in Kansas fell by 21.5% in October 2022 compared to the same period last year. National sales fell with sales falling 28.4% over 2021.
- Home prices continue to increase across the state. The statewide average sale price in October was $297,511 a 12.5% increase compared to last year. Midwest prices rose 5.9% and US prices rose 6.6%.
- Mortgage rates increased. The national average commitment rate on 30-year conventional mortgage for the week ending November 18, 2022 was 7.08%. View Freddie Mac’s report.
To view September 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.
