Home sales in South Central Kansas fell by 5.4% in August compared to the prior year. Sales in August 2022 totaled 1,066 units, down from 1,127 in 2021.
Among existing homes, 982 units sold in August, a decrease of 6.9% from 1,055 units that sold in 2021. The average sale price of existing homes was $227,366. This represents an increase of 8.1% from the August 2021 average price of $210,364.
For new construction, 84 sales occurred in August, up from 72 units the prior year, an increase of 16.7%. The average sale price of new homes in August was $468,148, up 28.5% from the same period last year.
A total of 969 contracts for sale were written in August 2022, down from 1,073 in August 2021. This is a decrease of 9.7%. 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 1,029 units at the end of August, which is down from 1,065 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.