July 17, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums continued to improve in Kansas during May and are thirteen percent ahead of last year’s pace according to the latest housing data from the Kansas Association of Realtors® (KAR).

An estimated total of 3,187 existing single-family homes and condos were sold in the Sunflower State in May. That was 21.3 percent higher than the 2,628 homes sold in April and 13.2 percent higher than the 2,816 homes sold in May 2011.

The average sales price for an existing home in Kansas increased by 3.1 percent in May to $160,579, up from $155,781 in April and up 2.8 percent from $159,179 in May of last year.

John Brocker , president of KAR, stated, “On the year, sales continue to outpace last year’s total home sales by almost 13%. This is another encouraging sign that the market is returning to a normal level.”

The total number of homes for sale across the state increased in May to 17,932 which follows traditional seasonal trends as more spring/summer sellers put their homes up for sale on the market. That’s up from 16,779 in April but down from 19,035 in May of 2011.

The state had an average 5.6 months supply of homes available for purchase in May, down from a 6.4 months supply in April and also down from a 7.3 months supply a year earlier.

Homes in Kansas took an average of 99 days to sell in May, down from 107 in April but up slightly from 98 days in May of last year.

Through the end of May, a total of 11,910 homes have been sold in Kansas in 2012, 12.7 percent higher than at the same time last year.

Tags: existing homes, condos, sales, median home prices, Kansas

Source:
KAR