September 2010
Kansas home sales fell by 22.7% percent in September 2010 compared to September last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 2,138 units in September, down from 2,765 units in 2009. In comparison, sales on a national level decreased 19.1% for the month.
Across the state there were 21,148 active listings at the end of the month. Supply of new and existing homes on the market — which is determined by taking the number of active listings and dividing it by the number of sales — represents 9.9 months.
KAR President, Brian Jones, Broker/Owner of Jones Heritage REALTORS® in Pittsburg, Kansas stated, “The year to date numbers through September show we are only 2.4% behind where we were at the end of September last year, even though this September is not good compared to last. We are convinced that, without the homebuyer tax credit program being made available during the first part of 2010, we would see fewer people buying homes and taking advantage of the incredibly low interest rates and the numbers would be far lower than 2009.”
The statewide average sale price last month was $151,383, compared to $150,788 in September 2009. This represents an increase of 0.4%. The statewide median sale price last month was $133,000 compared to $139,250 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest fell 5.2% to $139,700. The national median existing home price for all housing was $171,700 which is 2.4% below last year. The median price is where half sold for more and half sold for less.
According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage fell to a record low 4.35 percent in September from 4.43 percent in August and 5.06 percent in September of 2009.
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