Salina, KS Real Estate in 2025: A Market in Transition
Beth Mancino, broker and owner of Millwood Realty, recently shared her expert insights on the real estate market in Salina, Kansas. From limited inventory to rising prices, shifting interest rates, and opportunities for first-time buyers, her analysis provides a comprehensive look at the challenges and opportunities shaping the local housing market.
A Market Defined by Scarcity
“The industry has seen limited homes for quite some time,” Mancino explained. “At one point, buyers were paying more than asking price, skipping appraisals and inspections just to secure a home.”
While the market isn’t as extreme now, inventory remains constrained. As of January 17, 2025, there are 70 active listings available. In addition, 50 homes are currently pending, bringing the total number of properties involved in the market to 120. This is a stark contrast to the 140 active listings in Saline County just five years ago.
“For a while, inventory was alarmingly low, with only 20 listings across the entire county,” Mancino added. “While things have improved, it’s still a far cry from where we need to be to meet demand.”
Prices Are Rising, but Stability Reigns
“Prices have risen steadily,” Mancino noted, “but Salina hasn’t seen the wild fluctuations that have impacted markets on the West Coast. Our growth has been more measured and consistent, which is a good thing for buyers and sellers alike.”
Rising prices are also evident in the rental market, where demand has driven up costs significantly. “Even with interest rates in the mid-6% range, many buyers are finding that their mortgage payments are lower than what they’d pay for rent,” Mancino explained. This trend is motivating renters to explore homeownership despite the borrowing costs.
Interest Rates: A Waiting Game
With interest rates currently hovering in the mid-6% range, some buyers are finding relief but still adopting a “wait and see” approach, hoping for a more favorable borrowing environment in the near future.
“We’re almost at an even playing field right now,” Mancino said. “But in the next year or two, rates are expected to drop. When that happens, we’ll see a surge in buyers entering the market, which could create another wave of competition for available homes.”
Housing Options: Affordable and High-End
Builders in Salina are taking steps to address the needs of first-time buyers by constructing homes in the $225,000 range. “These homes are designed to appeal to new buyers who are ready to take that first step into homeownership,” Mancino said.
On the high end, Salina’s market has seen significant activity in recent years. In 2024, a $982,000 home was listed, along with several properties priced at $700,000 or higher. While luxury listings are relatively rare in Salina, they reflect a growing diversity in the local market.
Support for First-Time Buyers
First-time buyers have an array of resources available to help them navigate the market. “There are a lot of grants out there for first-time homeowners and displaced buyers,” Mancino explained. “Some of these grants are forgivable right away, while others are forgiven after five or ten years. They can make a huge difference for buyers who might not have the upfront cash to get started.”
These programs, combined with the availability of homes at more accessible price points, are helping more people achieve the dream of homeownership in Salina.
What’s Next for Salina’s Real Estate Market?
The outlook for Salina’s real estate market is cautiously optimistic. “We’re starting to see more new listings coming on the market—eight just today, in fact,” Mancino said.
As the market stabilizes, there’s hope that Salina will continue to strike a balance between affordability and growth. Lower interest rates on the horizon could open the door for more buyers, while ongoing construction efforts aim to ease the strain on inventory.
For buyers, sellers, and investors alike, the Salina real estate market offers a dynamic and evolving landscape. Whether you’re looking for a starter home, an upgrade, or an investment opportunity, the market in 2025 is full of possibilities.