“There was just an 1.8 months’ supply of homes available for sale across the state at the end of August,” said KAR president, Marsha McConnell with Plaza Astle Realty in Hutchinson. “This is tightest inventory ever recorded for the State of Kansas.”
August 2020 Market Highlights
- Home sales in Kansas fell by 2.8% in August 2020 compared to the same period last year. National sales rose with sales rising 10.5% over 2019.
- Home prices continue to gradually increase across the state. The statewide average sale price in August was $248,727 a 11.9% increase compared to last year. Midwest prices rose 10.7% and US prices rose 11.4%.
- Mortgage rates continue to fall. The national average commitment rate on 30-year conventional mortgage for the week ending September 18, 2020 was 2.87%. View Freddie Mac’s report.