Wichita, KS metro homes sales

For

May, 2009

The Wichita Area Association of Realtors and the South Central Kansas MLS have released data for May, 2009 reference Wichita, KS metro home sales figures.

Existing home sales increased 10.5% in May compared to sales in April, 2009.  Existing home sales were up to 650 units from 588 units.  Sales are down 26% from last year based on May, 2008 data.  The median sales price of existing homes in May increased .9% compared to the month before.  This data is contrary to most sales figures of the other top 100 real estate markets.

New home sales were also up in May over April of 2009.  They increased by 2.5%..  The median price of homes sold in May was up to $215,400 compared to $196,310 in April, 2009.  Total sales in may were down 7.8% compared to one year ago.

Total re-sale home inventory was up 5.4% compared to last month.  Total inventory is .6% lower than one year ago.  New home inventory decreased slightly from April's data and was 7.7% below one year ago.

Existing sold homes averaged 69 days on the market for May sold properties.  The average list to sell price was 96.3%.

Absorption rates for various price ranges:  Months of Inventory

Under $120,000                                   4.67 Months

$120,000 to $180,000                         4.44 Months

$180,000 to $250,000                         8.56 Months

$250,000 to $400,000                         9.4   Months

$400,000 to $750,000                         8      Months