Home sales in South Central Kansas fell by 11.3% in May compared to the prior year. Sales in May 2022 totaled 1,005 units, down from 1,133 in 2021.
Among existing homes, 929 units sold in May, a decrease of 9.9% from 1,031 units that sold in 2021. The average sale price of existing homes was $233,216. This represents an increase of 10.4% from the May 2021 average price of $211,335.
For new construction, 76 sales occurred in May, down from 102 units the prior year, a decrease of 25.5%. The average sale price of new homes in May was $383,036, up 0.8% from the same period last year.
A total of 1,005 contracts for sale were written in May 2022, down from 1,144 in May 2021. This is a decrease of 12.2%. 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 699 units at the end of May, which is down from 769 homes that were on the market at the end of May last year. At the current rate of sales, this figure represents 0.7 months’ supply of homes on the market