“Sale prices during the first quarter of the year were up 7.6 percent compared to 2023,” said KAR president Jon Fort with Arc Real Estate in Garden City. “The limited inventory of homes available for sale continues to be an issue as we enter the Spring selling season.”
March 2024 Market Highlights
- Home sales in Kansas fell by 7.0% in March 2024 compared to the same period last year. National sales fell with sales falling 3.7% over 2023.
- Home prices continue to increase across the state. The statewide average sale price in March was $299,217 a 8.0% increase compared to last year. Midwest prices rose 7.5% and US prices rose by 4.8%.
- Mortgage rates are rising again. The national average commitment rate on 30-year conventional mortgage for the week ending April 12, 2024 was 7.10%. View Freddie Mac’s report.
READ MORE