Kansas home sales rose by 3.9 percent in January 2016 compared to the same period last year, according to new figures released by the Kansas Association of REALTORSÂ®. Sales totaled 1,889 units in January, up from 1,818 units in 2015. In comparison, sales on a national level rose by 11.0 percent for the month.
Across the state there were 10,503 active listings at the end of the month. Supply of new and existing homes on the market at which is determined by taking the number of active listings and dividing by the number of sales represents 5.6 months.
The statewide average sale price last month was $175,091, compared to $170,044 in January 2015. This represents an increase of 3.0 percent. The statewide median sale price last month was $140,500, compared to $140,000 for the same period last year. According to the National Association of REALTORSÂ®, the median home price in the Midwest rose by 8.7 percent to $164,300. The national median existing home price was $213,800, which is 8.2 percent above last years 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 4.01 percent