“March sales activity was relatively unaffected by the coronavirus shutdowns,” said KAR president, Marsha McConnell with Plaza Astle Realty in Hutchinson. “Closings in March generally resulted from contracts that were written before the shutdowns began to be imposed. We continue to track MLS activity on a daily basis to see how home sales activity will be affected going forward.”
March 2020 Market Highlights
- Home sales in Kansas rose by 4.5% percent in March 2020 compared to the same period last year. National sales had a increase with sales rising 0.8% over 2019.
- Home prices continue to increase across the state. The statewide average sale price in March was $ 225,289 a 13.1% increase compared to last year. Midwest prices rose 9.7% and US prices rose 8.0%.
- Mortgage rates are going down. The national average commitment rate on 30-year conventional mortgage for the week ending April 17, 2020 was 3.31%. View Freddie Mac’s report.
For national perspective, click here to watch NAR’s new “Housing Minute” video update.