Southeast Kansas Association of Realtors®
March 12, 2018
Homes sales in Southeast Kansas rose by 16.7% in February compared to the prior year. Sales in February 2018 totaled 63 units, up from 54 in 2017. The average sale price was $85,261. This represents an increase of 7.9% from the February 2017 average price of $79,046.
A total of 62 contracts for sale were written in February 2018, down from 83 in February 2017. This is a decrease of 25.3%. 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 695 units at the end of February, which is down from 755 homes that were on the market at the end of February last year. At the current rate of sales, this figure represents 11.0 months’ supply of homes on the market.
According to Julie Eisele, President of the Southeast Kansas Association of REALTORS®, “2018 is off to a good start with home sales in Southeast Kansas up over 12% for the first two months. And home prices have crept up just a bit as well. On the other hand, the number of new listings is down 30%. Last year Southeast Kansas saw 349 new listings through the first two months, and we’ve seen 249 this year. The housing market will need new inventory to keep home sales on pace, and ahead of last year. Homeowners who are interested in selling their homes should take advantage of this timing and contact a real estate professional. Spring is a great time to enter the market.”
For questions and/or comments, please contact SEKAR President Julie Eisele at 620-331-3350 or email@example.com.