Kansas Association of Realtors releases November home sales statistics

FOR IMMEDIATE RELEASE Contact: Kansas Association of REALTORS® Attention: Karen Gehle, CEO 3644 SW Burlingame Rd, Topeka, KS 66611 785-267-3610, ext. 2124 ceo@kansasrealtor.com

Kansas Association of REALTORS® releases November 2012 home sales for Kansas

December 20, 2012 (Topeka, Kansas) -- Kansas home sales rose by 23.3 percent in November 2012 compared to the same period last year, according to the new figures released by the Kansas Association of REALTORS®. Sales totaled 2,551 units in November, up from 2,069 units in 2011. In comparison, sales on a national level rose by 14.5 percent for the month.

Across the state, there were 14,542 active listings at the end of the month. Supply of new and existing homes on the market - which is determined by taking the number of active listings and dividing it by the number of sales - represents 5.4 months.

"Sales activity continues to be strong across the state," said KAR president, John Brocker with Allen County Realty, Inc., in Iola. "The supply of homes remaining on the market at the end of November was the lowest we have seen in the past three years."

The statewide mean sale price last month was $157,754, compared to $150,176 in November 2011. This represents an increase of five percent. The statewide median sale price last month was $136,000, compared to $132,250 for the same period last year. According to the National Association of REALTORS®, the median home price in the Midwest rose by seven percent to $141,600. The national median existing home price was $180,600, which is 10.1 percent above last year's figure. The median price is where half of the homes sold for more and half sold for less. According to Freddie Mac, the national average commitment rate on a thirty-year conventional fixed-rate mortgage last week was 3.37 percent.

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For more than 90 years, the Kansas Association of REALTORS® has been the “Voice for Real Estate” in Kansas. Working for Kansas property owners, the Association provides a facility for professional education, research and information exchange among its 8,000 member licensees, as well as to consumers, government and the media. REALTORS® agree to abide by a strict code of ethics, and are held to a high ethical standard by their peers through their association membership. The term REALTOR® is a federally-registered trademark owned by the NATIONAL ASSOCIATION OF REALTORS®, and denotes membership in the non-profit Association.

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