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Wichita, KS. Real estate activity for 1-1-10 to 4-30-10

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

DT wichita, KS1st four months Sales data for the Wichita, KS metro area.

Residential real estate sales for 1-1-10 to 4-30-10

 

Existing home sales increased 33.9% between March and April, 2010.  The median sales price of homes increased 5.6% on a year over year basis. Sale YTD are 9% higher than a year ago.

Existing home inventory was down 2.4% compared to a month ago but home inventory is 11.6% higher than it was a year ago.  There were 3,765 residential homes on the market the end of April, 2010 in the South Central MLS district. .  There have been around 18% more homes listed in the 1st four months of 2010 compared to a year ago.

New home inventory is 35.2% lower than it was a year ago at this time.  The average new home price in the 1st four months of 2010 was $242,733.

A "balanced Market" is when there is less than a 5-6 month supply of homes for sale.  There was 4.6 months the end of April, 2010

The average sales price of all existing homes sold in the 1st four months of 2010 was $120,949.  The Median price was $107,450 indicative of the large amount of 1st time buyers in the market taking advantage of the Federal Tax Credit.  The Average Days on market for listings during this period was 81 days and the average list to sales price for the LAST time the property was listed was 96.46%.

 

Sold active residential sales in January were 354 units, February was 480 units, March was 695 units and April was 891 units in the Wichita, KS metro area for 2010.

Sales figures for various real estate franchises were:  Based on data from the Wichita MLS, 2010

JPW was #1 in sales with 775 sales by their 300 agents who averaged 2.58 sales in the 1st 4 months

Prudential was #2 with 666 sales by their 271 agents who averaged 2.46 sales...........

RE/MAX was #3 in total sales of 462 by their 95 agents averaging 4.86 sales per associate...#1 in production per associate.

#4 was Coldwell banker with 426 sales by 115 agents averaging 3.7 sales per associate

#5 was Keller Williams selling 381 homes but needing 148 agents who averaged 2.57 homes per associate.

 

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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.

 

 

 

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