Home sales in South Central Kansas fell by 17.6% in July compared to the prior year. Sales in July 2022 totaled 955 units, down from 1,159 in 2021.
Among existing homes, 875 units sold in July, a decrease of 19.0% from 1,080 units that sold in 2021. The average sale price of existing homes was $227,243. This represents an increase of 2.7% from the July 2021 average price of $221,223.
For new construction, 80 sales occurred in July, up from 79 units the prior year, an increase of 1.3%. The average sale price of new homes in July was $383,304, up 12.4% from the same period last year.
A total of 906 contracts for sale were written in July 2022, down from 1,111 in July 2021. This is a decrease of 18.5%. 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 1,082 units at the end of July, which is up from 1,029 homes that were on the market at the end of July last year. At the current rate of sales, this figure represents 1.1 months’ supply of homes on the market.