Home sales in South Central Kansas fell by 9.7% in March compared to the prior year. Sales in March 2023 totaled 805 units, down from 891 in 2022.
Among existing homes, 695 units sold in March, a decrease of 12.5% from 794 units that sold in 2022. The average sale price of existing homes was $215,863. This represents an increase of 3.1% from the March 2022 average price of $209,368.
For new construction, 110 sales occurred in March, up from 97 units the prior year, an increase of 13.4%. The average sale price of new homes in March was $355,595, down 9.0% from the same period last year.
A total of 855 contracts for sale were written in March 2023, down from 1,049 in March 2022. 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 1,059 units at the end of March, which is up from 627 homes that were on the market at the end of March last year. At the current rate of sales, this figure represents 1.2 months’ supply of homes on the market.
