Kansas Home Sales Up but Home Prices Way Down
February 25, 2011
Kansas home sales rose by 5.6% percent in January 2011 compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 1,335 units in January, up from 1,264 units in 2010. In comparison, sales on a national level increased 5.3% for the month.
However, please note that the statewide average sale price last month was $146,513, compared to $159,510 in January 2010. This represents a decrease of 8.1%. The statewide median sale price
last month was $125,500 compared to $138,000 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest fell 3.2% to $126,300. The national median existing home price was $158,800 which is 3.7% below last year. The median price is where half sold for more and half sold for less.
According to Freddie Mac, or a 30-year, conventional, fixed-rate mortgage was 4.76 percent in January of 2011, compared to 5.03 percent in January 2010.
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