Salina's real estate market is experiencing a price correction, with values down 39.7% from last year. Home prices have decreased 27.1% in the past month. With 57 active listings, inventory is 613% higher than seasonal norms. Homes are now taking an average of 22 days to sell, significantly longer than the 14 days typical for this market. A significant 24.6% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 25.5% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Salina market with the affordability index at 16.7. Based on current market indicators, home prices in Salina are projected to increase by approximately 6.7% over the next month.
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