Home/Mortgages/Kansas Home Sales Improve in June, Prices Up for a Second Month

August 13, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums continued to climb in Kansas during June while monthly home prices improved for the second consecutive month according to the latest housing data from the Kansas Association of Realtors® (KAR).

An estimated total of 3,313 existing single-family homes and condos were sold in the Sunflower State in June. That was 4.0 percent higher than the 3,187 homes sold in May and 8.7 percent higher than the 2,990 homes sold in June 2011. It was the 12th consecutive month that home sales have improved year-over-year.

The average sales price for an existing home in Kansas increased by 8.5 percent in June to $174,264, up from $160,579 in May and up 6.0 percent from $165,608 in June of last year. It was the fourth 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 June, falling to 16,921 homes. That’s down from 17,932 in May and down from 19,665 in June of 2011.

The state had an average 5.1 months supply of homes available for purchase in June, down from a 5.6 months supply in May and also down from a 6.6 months supply a year earlier.

Homes in Kansas took an average of 92 days to sell in June, down from 99 in May and down from 104 days in June of last year.

Through the end of June, a total of 15,274 homes have been sold in Kansas, 12.1 percent higher than at the same time last year.

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