Kansas’s real estate market exhibits a blend of steady price appreciation, evolving inventory levels, and shifting dynamics between buyers and sellers. Here’s a comprehensive overview:
🏠 Statewide Market Overview
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Median Sale Price: In April 2025, the median home sale price in Kansas was $282,800, marking a 6.0% increase compared to the previous year.
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Average Home Value: The average home value stood at $238,222, reflecting a 4.4% year-over-year rise.
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Inventory Levels: As of April 30, 2025, there were 7,204 homes listed for sale in Kansas, with 2,923 new listings added that month.
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Market Dynamics:
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Sale-to-List Price Ratio: The median sale-to-list price ratio was 0.997, indicating that homes are selling very close to their asking prices.
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Days on Market: Homes spent a median of 26 days on the market, up by 3 days from the previous year, suggesting a slight cooling in market pace.
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🌆 Regional Highlights
Kansas City Metro Area
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Kansas City, KS: The median home price reached $233,000, up 7.6% year-over-year. Inventory increased by 19.9%, and homes spent an average of 66 days on the market.
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Kansas City, MO: The median home price was $289,265, a 5.2% increase from the previous year. Inventory rose by 15.9%, with homes averaging 81 days on the market.
Lawrence
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Home Sales: In April 2025, 97 homes were sold, consistent with the previous year.
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Average Sale Price: The average sale price for existing homes was $358,210, a 2.2% decrease from April 2024.
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Inventory: Active listings increased to 150 units, up from 119 the previous year, representing a 1.9 months’ supply.
📈 Market Trends and Outlook
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Balanced Market Conditions: While inventories remain tight, the market is becoming more balanced between buyers and sellers, moving away from the highly competitive conditions of previous years.
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Affordability: Despite rising prices, Kansas remains relatively affordable compared to national averages, attracting both first-time buyers and investors.
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Foreclosure Activity: Kansas has seen a 26% increase in “zombie foreclosures,” where properties are abandoned before the foreclosure process completes. However, such cases remain relatively rare due to strong home equity and decreasing overall foreclosure activity.
🔮 Conclusion
Kansas’s housing market in 2025 reflects steady growth with signs of stabilization. Rising home values, increased inventory, and a slight lengthening in days on market suggest a shift toward a more balanced environment, offering opportunities for both buyers and sellers. As mortgage rates stabilize and new construction contributes to inventory, the market is poised for continued healthy activity throughout the year.