The last month and especially last week was good economic news for Wichita, KS.
The unemployment rate in November, 2011 dropped to 8.6% nationally and dropped to 7.2% for the Wichita metro area and 6.7% for Kansas. Jobless claims the middle of December, 2011 dropped to 366,000. A sustained rate of 375,000 or below shows a economic recovery in place.
Last week the average 30 year, fixed rate mortgage dropped to 3.94% matching the all time low in October, 2011.
Employment in the aircraft … (1 comments)
wichita: Wichita, KS Real Estate update for Feb., 2011
- 02/20/11 04:39 AM
Real Estate Report February, 2011 For the Wichita, KS Metro Area Existing home sales/closings dropped 41.5% between December, 2010 and January, 2011 according to the South central Kansas MLS. The median sales price for that period also decreased 16.1% and YTD decreased 12.1% based on closed transactions. This does not mean that home values dropped, it means that more less expensive homes sold. The good news was contracts written in January increased and for RE/MAX Realty Professionals that increase was 25%.
New home sales also decreased during this period (closed Sales) by 43.6 % but new contracts written were at … (1 comments)
There are approximately 1902 Realtors. Only 455 Realtors did at least 9 sales so far this year or at least one sale per month. Approximately 75% of the MLS Realtors did not have at least one sale a month, the minimum to survive as a real estate agent. Kirk and I have sold close to 50 residential homes so far this year.
517 Realtors or 27% of all MLS participants did not have any sales in the first 9 months of 2009.
There has been a reduction … (2 comments)
wichita: Wichita, KS real estate update
- 10/30/08 03:56 AM
The "Old Town" entertainment district in Downtown Wichita was just voted one of the "top ten neighborhoods" for revitalizing and cleaning up polluted areas in America's cities.
The Wichita City council has approved $25 million in industrial revenue bonds to be used to purchase the Broadview hotel in down town Wichita and completely renovate the property down to its studs. The Hotel was purchased by the Drury hotel company and will be open for one year before closing for a year to completely renovate the property.
In October, 2008, Wichita was rated by the RE/MAX-AP report on U.S. Housing … (0 comments)
July closings were down from the same period in 2007 but not as bad as May and June. YTD stats showed a 14.2% decrease in the number of residential closings. July showed a 11.3% decrease from last year to 986 units. New residential listings were down 12.4% YTD which has continued to keep the market balanced and July's new listings were down 13.3% from a year ago.
The total number of re-sale properties were 3,463 which was 1.5% less than a year ago. Active new homes on the market were 720, a … (1 comments)
wichita: Good economic times in Wichita, KS metro area.
- 04/29/08 06:06 AM
Wichita was ranked second by Forbes, 2008 in their list of the "Best Cities for Jobs" This same list ranked Wichita the fifth best city in income growth and the seventh best for cost of living and job growth.
Wichita is a key global competitor with nearly 50% of its products being shipped overseas. Kansas State, 2008
Wichita was ranked the strongest real estate market in the United States for 12-1-07 to 12-01-08. The ranking was done 1-14-08 by Vero FORECAST. Vero real estate solutions is a leader in risk management and valuation services in Santa Ana, CA
April, 2008 unemployment rate for Wichita, … (0 comments)
Thank goodness I sell real estate in the Wichita, KS metro area. While real estate values are down 5% -10%-15% in other markets, the Stable Wichita market showed a 5.7% gain from Nov., 2006 to Nov., 2007. Wichita's real estate market after 7 years of increased units sold finally slowed down a little bit in 2007 (-3.2%). 2007 was still the 3rd best real estate market we have ever had.
Wichita, unlike other cities, had a decrease in new residential listings in 2007 (6.2%). This kept our prices from falling. Total homes left on the market at the end … (0 comments)
•· CNN reported this Summer that Wichita, KS was the eighth most under valued market in the U.S. at 16.3% below national norms. •· Forbes reported the Fall of 2007 that Wichita had the 9th best job market in the united states •· The National Association of Realtors reported that Wichita ranked #16 of the top 100 U.S. markets in projected increase in property values from April, 2007 to April, 2008. •· Wichita is projected to have a 3.1% increase in appreciation of home prices over the next year. … (2 comments)
Some statistics of note for Wichita, KS and the local real estate market.
CNN reported the 1st of June that the Wichita, KS real estate market was the 8th most under-valued market in the U.S. According to National City Corp we were 16.3% under valued.
Wichita ranked the 9th "Best Big City" to live in the U.S. Reorted by Money, 2007
During 2006 and the 1st 4 months of 2007, All RE/MAX real estate organizations in the Wichita area were #1 in Listing sold. RE/MAX has less than 1/2 of the agents of the #2 and #3 organizations.
CNN reported in … (2 comments)
wichita: 1st Quarter, 2007 real estate update
- 05/09/07 12:20 PM
Real estate sales rebounded in March after February's 13% drop from the same period a year ago. March sales were 40% higher than February's sales and only 7% below March, 2006's numbers. Fortunately for the local area, new real estate listings were also down 7% from a year ago keeping the local market in balance. Total existing homes for sale in the Wichita Metro area were also down 7.5% from last years levels and contrary to national trends, New home inventories were also down 3,5% from last year.
The average sales price of existing homes sold in the 5 county, Wichita MSA … (1 comments)
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