Kansas home sales rose by 6.2 percent in December 2014 compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 2,710 units in December, up from 2,551 units in 2013. In comparison, sales on a national level rose by 3.5 percent for the month.
“December was a very good month in many markets across the state,” said KAR president, Todd Woodburn with Coldwell Banker Plaza Real Estate in Wichita. “Because of the strong December, sales in 2014 ended just ahead of the solid 2013 numbers.”
Across the state there were 11,802 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 4.4 months.
The statewide average sale price last month was $197,151, compared to $169,078 in December 2013. This represents an increase of 16.6 percent. The statewide median sale price last month was $145,000, compared to $137,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest rose by 5.3 percent to $159,100. The national median existing home price was $209,500, which is 6.0 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 3.63 percent.
