The real estate market in Manhattan continues to remain strong.
Riley County appraiser Greg McHenry reported to county commissioners Thursday that home prices are increasing.
“We raised values for most of our residential properties three to five percent here in the county as of Jan. 1,” McHenry said. “And since that time, our sales ratio has actually dropped, so that’s another indication the market is in pretty good shape right now.
“It’s a fairly aggressive market.”
McHenry said there have been 441 real estate sales in 2016 through May 27. The median sale price for homes was $180,500, compared to $180,000 at the same point last year. The average sale price was $198,224, compared to $194,000 at this time last year.
“This point of the year is a good measuring point for where our market is, because this is one of the most active portions of our year, typically,” he added. “We’re a very seasonal real estate market with most of our home sales occurring from about March 1 through the end of August, early September.”
McHenry said personal property “Change of Value Notices” were mailed April 29. His office is planning to certify personal property values to the Clerk’s Office by June 15, which will complete the 2016 appraisal cycle in the county.