Kansas home sales rose by 7.2 percent in August 2013 compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 3,469 units in August, up from 3,235 units in 2012. In comparison, sales on a national level rose by 13.2 percent for the month.
“Housing markets across the state continue to strengthen,” said KAR president, Steve McCullough with Midwest Land Specialists, Inc., in Newton. “August represents the 25th straight month of year-over-year increases in sales.”
Across the state there were 15,205 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 4.5 months.
The statewide average sale price last month was $176,350, compared to $163,883 in August 2012. This represents an increase of 7.6 percent. The statewide median sale price last month was $159,000, compared to $149,000 for the same period last year. According to the National
Association of REALTORS®, the median home price in the Midwest rose by 10.0 percent to $166,100. The national median existing home price was $212,100, which is 14.7 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 4.57 percent.
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