Kansas home sales rose by 7.8 percent in April 2013 compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 2,891 units in April, up from 2,682 units in 2012. In comparison, sales on a national level rose by 9.7 percent for the month.
“Sales so far this year are the strongest we’ve seen since 2008,” said KAR president, Steve McCullough with Midwest Land Specialists, Inc., in Newton. “As sales have increased, the average time to sell a home has continued to fall.”
Across the state, there were 14,658 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 $175,828, compared to $154,593 in April 2012. This represents an increase of 13.7 percent. The statewide median sale price last month was $142,750, compared to $139,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest rose by 6.7 percent to $149,300. The national median existing home price was $192,800, which is 11 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 3.51 percent.
