Housing Market Facts
December 2011
Kansas home sales rose by 2.6% percent in December 2011 compared to December of 2010, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 2,175 units in December, up from 2,120 units in 2010. In comparison, sales on a national level rose 3.6% for the month.
Across the state there were 15,274 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 7.0 months.
"Existing home sales ended the year just below the total for 2010," said KAR President, John Brocker, Broker Owner of Allen County Realty, Inc. in Iola, KS. "When you consider that the tax credit in 2010 probably stole some sales from 2011, this suggests that the existing home market has begun to grow again. We think this bodes well for the upcoming spring selling season."
The statewide average sale price last month was $144,613, compared to $156,161 in December 2010. This represents a decrease of 7.4%. The statewide median sale price last month was $126,000 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 7.9% to $129,100. The national median existing home price was $164,500 which is 2.5% below 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 for a 30-year, conventional, fixed-rate mortgage fell to another record low of 3.96 percent in December from 3.99 percent in November; the rate was 4.71 percent in December 2010; recordkeeping began in 1971.
December 2011 Market Charts and Graphs
November 2011 Market Charts and Graphs
October 2011 Market Charts and Graphs
September 2011 Market Charts and Graphs
August 2011 Market Charts and Graphs
July 2011 Market Charts and Graphs