“Home prices continue to rise in the wake of tight inventories,” said KAR president, Steve LaRue with McGrew Real Estate in Lawrence. “Across the state, there is less than a three months’ supply of homes priced between $100,000 and $400,000.”
July 2019 Market Highlights
- Home sales in Kansas fell by 1.9 percent in July 2019 compared to the same period last year. National sales had a increase with sales rising 0.6% over 2018.
- Home prices continue to increase across the state. The statewide average sale price in July was $227,041 a 5.8% increase compared to last year. Midwest prices rose 8.1% and US prices rose 4.3%.
- Mortgage rates continue to drop. The national average commitment rate on 30-year conventional mortgage for the week ending August 16, 2019 was 3.60%. View Freddie Mac’s report.