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Is Chanute, KS 66720 a buyer’s or seller’s market?

Balanced 3 months ending August 31, 2026 · Source: Redfin

Chanute is a balanced market. With about 4.1 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply4.1Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list91.2%Sold price ÷ list price
Median days on market30Listing to accepted offer
Median price per sq ft$58▼ −24.9% vs. last year

The Chanute housing market right now

In the three months ending August 31, 2026, 0% of homes in Chanute, KS 66720 sold above their list price, the typical home went under contract in 30 days and there were 4.1 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 7 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking fell from 11%, homes sold faster (40 days then) and the median sale price fell 35% to $77,966. Overall, Chanute is less competitive than a year ago, which gives buyers more room.

Nearby, Erie 66733 (17% sold over asking) is even more competitive.

Run the numbers for 66720

Prefilled for 66720Can I win this house?Multiple-offer likelihood for a listing Prefilled for 66720Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Erie 66733 $67 /sq ftSaint Paul 66771 $81 /sq ftThayer 66776 — /sq ft Browse all markets →

Towns like Chanute nearby

Find towns like Chanute in other states →
Parsons, KS67357 · 25 miles away90% similarolder residents Independence, KS67301 · 34 miles away83% similarpricier homes ($26K more) · 5 min longer commute Iola, KS66749 · 18 miles away82% similarnewer homes Humboldt, KS66748 · 9 miles away78% similarsmaller · older residents

Where Chanute is

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Questions about Chanute real estate

Is Chanute a buyer’s or seller’s market?

A balanced market: there were 4.1 months of supply in Chanute, KS 66720 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.

How fast do homes sell in Chanute?

The typical home went under contract in 30 days in the latest three months.

Do homes in Chanute sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 91.2% of the list price.

What are property taxes in Chanute?

About 1.47% of a home’s value a year in Neosho County, or roughly $5,880 on a $400,000 home.

What is the median home price in Chanute?

The median sale price was $77,966 in the three months ending August 31, 2026, about $58 per square foot.

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology