Kansas Home Sales Gain Momentum in March

May 15, 2012 (Shirley Allen)

Monthly and yearly sales of existing single-family homes and condominiums in Kansas continued to climb at a strong pace in March while home prices also improved on both a monthly and year-over-year basis according to the latest housing data from the Kansas Association of Realtors® (KAR).

An estimated total of 2,515 existing single-family homes and condos were sold in the Sunflower State in March. That was 36.7 percent higher than the 1,840 homes sold in February and 11.6 percent higher than the 2,253 homes sold in March 2011.

The median sales price for an existing home in Kansas increased by 17.0 percent in March to $134,500, up from $115,000 in February and up 7.1 percent from $125,623 in March of last year.

John Brocker , president of KAR, stated, “So far this year, sales are up 15 percent compared to 2011. Pending sales continue to be strong as well, suggesting sales will keep rising through the spring.”

The total number of homes actively available for sale increased in March to 17,212 as more spring sellers put their homes for sale on the market. That’s up from 16,392 in February but down from 19,035 in March of 2011.

The state had an average 6.8 months supply of homes available for purchase in March, down from an 8.9 months supply in February and from an 8.6 months supply a year earlier.

Tags: existing homes, condos, sales, median home prices, Kansas

Source:
KAR