Home sales in South Central Kansas fell by 17.4% in September compared to the prior year. Sales in September 2022 totaled 915 units, down from 1,108 in 2021.
Among existing homes, 856 units sold in September, a decrease of 17.5% from 1,038 units that sold in 2021. The average sale price of existing homes was $224,641. This represents an increase of 9.8% from the September 2021 average price of $204,511.
For new construction, 59 sales occurred in September, down from 70 units the prior year, a decrease of 15.7%. The average sale price of new homes in September was $401,875, up 16.2% from the same period last year.
A total of 775 contracts for sale were written in September 2022, down from 1,017 in September 2021. This is a decrease of 23.8%. 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 1,095 units at the end of September, which is up from 1,056 homes that were on the market at the end of September last year. At the current rate of sales, this figure represents 1.2 months’ supply of homes on the market.