“It remains a sellers’ market, despite the continuing declines in sales activity,” said KAR president Jon Fort with Arc Real Estate in Garden City. “Prices continue to rise and the typical time a house remains on the market is less than half of what it was prior to the pandemic.”
February 2024 Market Highlights
- Home sales in Kansas fell by 7.4% in February 2024 compared to the same period last year. National sales fell with sales falling 3.3% over 2023.
- Home prices continue to increase across the state. The statewide average sale price in February was $294,960 a 8.0% increase compared to last year. Midwest prices rose 6.8% and US prices rose by 5.7%.
- Mortgage rates are dropped slightly. The national average commitment rate on 30-year conventional mortgage for the week ending March 15, 2024 was 6.87%. View Freddie Mac’s report.
To view January 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.
