November 26, 2018
Southeast Kansas Association of REALTORS® Releases Home Sales Figures for October 2018
Homes sales in Southeast Kansas fell by 11.4% in October compared to the prior year. Sales in October 2018 totaled 78 units, down from 88 in 2017. The average sale price was $90,615. This represents an increase of 22.3% from the October 2017 average price of $74,097.
A total of 80 contracts for sale were written in October 2018, up from 70 in October 2017. This is an increase of 14.3%. Contracts written during the month reflect, in part, sales that will close in the near future.
The inventory of active listings in Southeast Kansas stood at 690 units at the end of October, which is down from 774 homes that were on the market at the end of October last year. At the current rate of sales, this figure represents 8.3 months’ supply of homes on the market.
According to Julie Eisele, President of the Southeast Kansas Association of REALTORS®, “In October we saw home sales drop a bit in Coffeyville and Independence, while they were on the rise to the north in Parsons and Bourbon County. Despite the fluctuation, home sales in southeast Kansas for all of 2018 are up nearly 4% through October. Overall sales volume has increased 6% and is nearing $70 million in the region, due to an increase of 4% in the median sales price, which is now $65,000. This has been a very solid year for home sales in southeast Kansas. Home prices are predicted to rise another 6% in Kansas in 2019, although overall home sales are predicted to remain level.”
For more information about the Housing Market Forecasts for 2019, please visit http://realestate.wichita.edu/data-research/housing-markets-forecast/2019-forecast/.
For questions and/or comments, please contact SEKAR President Julie Eisele at 620-331-3350 or firstname.lastname@example.org.