Kansas Market Stats through April of 2010

Kansas home sales rose by an amazing 42.5% in April compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 3242 units in April, up from 2,275 units in 2009. In comparison, sales on a national level increased 22.8% for the month.

Across the state there were 18,459 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 it by the number of sales — represents 5.7 months compared to 7.6 months in March of this year.

KAR President, Brian Jones, Broker/Owner of Jones Heritage REALTORS® in Pittsburg, Kansas said that the dramatic increase in sales activity was driven by the homebuyer tax credit which required contracts to be written by April 30, 2010 and closed by June 30, 2010 in order to qualify. “We anticipate that closings over the next few months should rise across the state, which will be good for the economy at both the local and state levels.”

The statewide average sale price of homes last month was $155,670, compared to $152,220 in April 2009. This represents an increase of 2.3%. The statewide median sale price last month was $145,000 compared to $138.450 for April last year. According to the National Association of REALTORS®, the median home price in the Midwest rose 5.8% to $146,400. The national median home price was $173,100, which is 4.0% above last year. The median price is where half 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 4.84%.

Source: Kansas Association of REALTORS®

Like what you read?

Stay informed. Sign up for our RSS Feed or Email Updates.