South Central Kansas MLS Releases Home Sales Figures for May 2023

Home sales in South Central Kansas fell by 11.8% in May compared to the prior year. Sales in May 2023 totaled 914 units, down from 1,036 in 2022.

Among existing homes, 802 units sold in May, a decrease of 15.9% from 954 units that sold in 2022. The average sale price of existing homes was $228,925. This represents a decrease of 1.1% from the May 2022 average price of $231,471.

For new construction, 112 sales occurred in May, up from 82 units the prior year, an increase of 36.6%. The average sale price of new homes in May was $394,159, up 2.2% from the same period last year.

A total of 901 contracts for sale were written in May 2023, down from 1,002 in May 2022. This is a decrease of 10.1%. 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 1,090 units at the end of May, which is up from 699 homes that were on the market at the end of May last year. At the current rate of sales, this figure represents 1.3 months’ supply of homes on the market.

Prepared courtesy of the Kansas Association of REALTORS® using data from the South Central Kansas MLS®. Provided by the WSU Center for Real Estate