Home sales in South Central Kansas fell by 13.7% in February compared to the prior year. Sales in February 2023 totaled 568 units, down from 658 in 2022.
Among existing homes, 522 units sold in February, a decrease of 11.8% from 592 units that sold in 2022. The average sale price of existing homes was $212,729. This represents an increase of 14.3% from the February 2022 average price of $186,186.
For new construction, 46 sales occurred in February, down from 66 units the prior year, a decrease of 30.3%. The average sale price of new homes in February was $372,739, up 7.5% from the same period last year.
A total of 698 contracts for sale were written in February 2023, down from 814 in February 2022. This is a decrease of 14.3%. 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 1,002 units at the end of February, which is up from 576 homes that were on the market at the end of February last year. At the current rate of sales, this figure represents 1.2 months’ supply of homes on the market.