Special offer
Home > Blogs > Wayne Short > Wayne's Real Estate Blog
bookmark_border

march, 2010 Wichita, KS Real Estate report

By
Real Estate Agent with The Wichita Home Team with KW Signature Partners

March, 2010 Real estate sales Figures

For the

Wichita, KS Metro Area

The South central Kansas MLS released sales figures for March, 2010.  Existing home sales increased 180 units over February.  The median sales price of existing homes increased 9.7% over the same period.  These numbers were a huge increase over fairly dismal January and February sales and were only 98% of 2009 sales, 68% of 2008 sales and 61% of 2007 sales.

April and May sales will top these results once we see all the 1st time buyers who are getting Federal Tax credits close their loans. Personally contracts written for our two offices were up 32% February over Januery, up 234% March over January and for the 1st 10 days of April were up 341% over January's numbers.  We only hope it continues.....

Existing home inventory was up 7.8% over February, 2010 and up15% over March, 2009.

Months-of-inventory has dropped to a fairly manageable 6.3 months.  4-5 months of inventory is considered a balanced market.

New home inventories were down to 67% of a year earlier. New home sales increased 7.8% over February, 2010.

Average sales price for existing homes in March, 2010 was $119,762 with an average list to sales price of 96.38% with 80 days on the market.

There were 678 closing of existing homes in March, 2010.  126 were cash, 231 were conventional loans, 224 were FHA loans, 46 were VA loans and 27 were other types of financing.

 

 

Posted by

 

July, 2015 Mid-year Real Estate Report

 

For the United States, NE Oklahoma and the Grand Lake area.

 

 

 

Nationally, June Home sales were the highest of any month since the RE/MAX National Housing report began in 2008.  In the last 5 month each month’s sales were higher than the proceeding moth and the same month one year ago. The median sales price of homes sold in June was $224,671, 7% above a year ago.  Nationally, supply still lags demand with only a 3.6 month supply of housing.  A 6 month supply is a balanced market.

 

 

 

Nationally, April, May and June saw an increase in inventory but June’s inventory was still 11.8% below a year ago.  For example the DFW area reported only a 1.8 month’s supply of homes. Grand Lake’s supply of housing was almost 14 months.

 

Nationally The average home lost $13,067 of equity value in the last 9 years but over the last 3 years the value of a home went up $45,533 and that equity loss should be wiped out in another two years.  The Tulsa area was not hit nearly as bad.  The last 3 years equity gain was only $21,100 but the 9 year position was a $19,400 value increase over 2006.  The Grand Lake area is still behind values 9 years ago but values are slowly rising.  The only negative to a faster recovery will be the dramatic decrease in oil prices and increase in job losses in the oil industry and how that impacts buyers from the OKC, Tulsa and Wichita, KS area.

 

Grand Lake real estate sales

 

2015 sales started slow but are beginning to accelerate. There were 426 residential sales in the 1st 6 months of 2015, a 2.9% increase but Junes increase over June, 2014 was 40.8% or 100 sales compared to 71.

 

Pending sales at the end of June, 2015 were up 13.4% over June, 2014 and YTD pending sales were up 5%.  During June, 2015 32 homes went under contract priced over $200,000, 34 homes sold between $100,000 and $200,000 and 27 homes were sold under $100,000. 

 

The number of listings available for sale was down 11.4% at the end of June, 2015 compared to a year ago. The greatest need seems to be homes under $100,000 that are stick built so they can qualify for government loans. (USDA, FHA and VA)

 

Homes are selling at 91% of last listed price, the highest level in over a year.  If no new listings entered the market it would take about 13.5 months to sell Grand Lake’s entire inventory.  This number is three times the national average for major metro areas.

 

 

 

Back to Top

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?