Homes sales in South Central Kansas fell by 3.1% in August compared to the prior year. Sales in August 2021 totaled 1,088 units, down from 1,123 in 2020.
Among existing homes, 1,023 units sold in August, an increase of 0.6% from 1,017 units that sold in 2020. The average sale price of existing homes was $210,341. This represents an increase of 8.7% from the August 2020 average price of $193,496.
For new construction, 65 sales occurred in August, down from 106 units the prior year, a decrease of 38.7%. The average sale price of new homes in August was $364,804, down 5.6% from the same period last year.
A total of 1,071 contracts for sale were written in August 2021, down from 1,157 in August 2020. This is a decrease of 7.4%. Contracts written during the month reflect, in part, sales that are set to close in the near future.
The inventory of active listings in South Central Kansas stood at 1,065 units at the end of August, which is down from 1,210 homes that were on the market at the end of August last year. At the current rate of sales, this figure represents 1.1 months’ supply of homes on the market.