3^rd Quarter report for Real Estate sales

Wichita, KS Metro area.

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 of approximately 243 agents (12%) since the fall of 2008, now 1784 WAAR voting members.

Existing home sales decreased 10% August to September, 2009.  YTD sales are down 21% from 2008 levels and 32% from 2007 levels.  The median sales price of existing homes in September decreased 2% on a year over year basis.

New home sales decreased in September to 87 units, which represent a 13.9% decrease compared to the previous month.

New and existing home inventory combined was 4,047 homes this month compared to 4,105 last month representing a 1.4% decrease in the past month.  One year ago the combined inventory was 4,069, which represents 0.5% decrease in total inventory over the last year.  Total months of inventory for existing homes increased from 4.7 months to 5.3 months based on September, 2009 sales.

YTD the average sales price of a existing home was $120,403 with an average sales time of 65 days and selling at 96.68% of the final list price.

Inventory levels based on Sept., 2009 sales figures.

$0 to $99,999 price equals 4.2 months of inventory

$100,00 to $139,999 has 3.71 months of inventory

$140,000 to $199,999 has 5.55 months of inventory

$200,000 to $299,999 has 10.73 months of inventory

$300,000 to $499,900 has 14.35 months of inventory

Only one sale above $500,000 in September and there are 130 homes for sale in the price range.