October 12, 2012 (Chris Moore)
Monthly sales of existing single-family homes and condominiums were little changed in Kansas during August while home prices tumbled on a monthly basis but were still ahead of last year according to the latest housing data from the Kansas Association of Realtors® (KAR).
An estimated total of 3,176 existing single-family homes and condos were sold in the Sunflower State in August. That was three sales higher than the 3,173 homes sold in July and 12.3 percent higher than the 2,789 homes sold in August 2011. It was the 14th consecutive month that home sales have improved year-over-year.
The average sales price for an existing home in Kansas fell by 0.9 percent in August to $164,921, down from $166,384 in July but was up 4.5 percent from $159,082 in August of last year. It was the sixth consecutive month that home prices have improved year-over-year.
John Brocker, president of KAR, stated, “Housing markets across the state continue to show signs of strength. Year-to-date, sales are up thirteen percent compared to 2011.”
The total number of homes for sale across the state continued to dwindle in August, falling to 16,498 homes. That’s down from 16,805 in July and down from 19,464 in August of 2011.
The state had an average 5.2 months supply of homes available for purchase in August, down slightly from a 5.3 months supply in July and down from a 7.0 months supply a year earlier.
Homes in Kansas took an average of 92 days to sell in August, down from 94 in July and down from 98 days in August of last year.
Through the end of August, a total of 21,739 homes have been sold in Kansas, 13.0 percent higher than at the same time last year.
Tags: Kansas real estate, existing homes, condos, sales, median home prices, Kansas