September 18, 2012 (Chris Moore)
Monthly sales of existing single-family homes and condominiums fell in Kansas during July but still improved from the previous year for the thirteenth consecutive month according to the latest housing data from the Kansas Association of Realtors® (KAR).
An estimated total of 3,173 existing single-family homes and condos were sold in the Sunflower State in July. That was 4.2 percent lower than the 3,313 homes sold in June but was still 14.1 percent higher than the 2,735 homes sold in July 2011. It was the 13th consecutive month that home sales have improved year-over-year.
The average sales price for an existing home in Kansas fell by 4.5 percent in July to $166,384, down from $174,264 in June but was up 3.5 percent from $161,602 in July of last year. It was the fifth consecutive month that home prices have improved year-over-year.
John Brocker, president of KAR, stated, “On the year, sales continue to outpace last year’s total home sales by almost 13%. This is another encouraging sign that the market is returning to a normal level.”
The total number of homes for sale across the state continued to dwindle in July, falling to 16,805 homes. That’s down from 16,921 in June and down from 19,841 in July of 2011.
The state had an average 5.3 months supply of homes available for purchase in July, up slightly from a 5.1 months supply in June but down from a 7.3 months supply a year earlier.
Homes in Kansas took an average of 94 days to sell in July, up from 92 in June but still down from 96 days in July of last year.
Through the end of July, a total of 18,534 homes have been sold in Kansas, 21.3 percent higher than at the same time last year.
Tags: Kansas real estate, existing homes, condos, sales, median home prices, Kansas