Kansas home sales rose by 15.5 percent in September 2013 compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 2,949 units in September, up from 2,554 units in 2012. In comparison, sales on a national level rose by 10.7 percent for the month.
“Sales activity across the state continues to increase at a healthy pace,” said KAR president, Steve McCullough with Midwest Land Specialists, Inc., in Newton. “So far this year, sales are up by more than 11 percent from 2012.”
Across the state there were 15,052 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 5.3 months.
The statewide average sale price last month was $170,746, compared to $157,484 in September 2012. This represents an increase of 8.4 percent. The statewide median sale price last month was $146,500, compared to $140,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest rose by 9.0 percent to $158,400. The national median existing home price was $199,200, which is 11.7 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 4.22 percent.
