“Inventories across the state have still not recovered to pre-pandemic levels,” said KAR president Jon Fort with Arc Real Estate in Garden City. “As a result, home prices continue to rise even as sales activity has leveled off.”
August 2024 Market Highlights
- Home sales in Kansas rose fell 4.7% in August 2024 compared to the same period last year. National sales fell with sales falling 4.2% over 2023.
- Home prices continue to increase across the state. The statewide average sale price in August was $322,024 a 4.5% increase compared to last year. Midwest prices rose 3.8% and US prices rose by 3.1%.
- Mortgage rates fell slightly. The national average commitment rate on 30-year conventional mortgage for the week ending September 13, 2024 was 6.09%. View Freddie Mac’s report.
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