Kansas home sales rose by 17.8 percent in July 2013 compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 3,783 units in July, up from 3,211 units in 2012. In comparison, sales on a national level fell by 86.3 percent for the month.
“Sales in July were especially strong, up nearly 18% from last year,” said KAR president, Steve McCullough with Midwest Land Specialists, Inc., in Newton. “In many areas across the state we seemed to have transitioned to a sellers’ market.”
Across the state there were 15,349 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 4.1 months.
The statewide average sale price last month was $181,116, compared to $165,644 in July 2012. This represents an increase of 9.3 percent. The statewide median sale price last month was $160,000, compared to $150,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest fell by 3.6 percent to $148,200. The national median existing home price was $209,600, which is 11.6 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 4.40 percent.
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