Kansas home sales rose by 1.3 percent in December 2013 compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 2,504 units in December, up from 2,471 units in 2012. In comparison, sales on a national level fell by 0.6 percent for the month.
“Last year was a strong year for housing markets across Kansas,” said KAR president, Chris Rost with Coldwell Banker Antrim Piper Wenger, in Salina. “Sales rose by more than 9% and average sale prices were 7% higher than in 2012.”
Across the state there were 12,037 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 4.8 months.
The statewide average sale price last month was $168,757, compared to $166,374 in December 2012. This represents an increase of 1.4 percent. The statewide median sale price last month was $137,275, compared to $134,900 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest rose by 7.0 percent to $150,700. The national median existing home price was $198,000, which is 9.9 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 4.41 percent.
