Wichita Kansas Area Home Sales Are...Not too Shabby!
While the rest of the country continues to run screaming from the tragic real estate sales figures; Wichita, Kansas and the surrounding areas are "holding their own".
Here are the stats for August 2011:
- Existing home Sales increased by 2.6% from July
- Exisitng home Sales are up 32.2% from last year at this time
- New homes sales decreased by 19.9% year over year
- New Home inventory is 32.3% lower than a year ago
- New and Existing home combined inventory is 9.9% lower than a year ago
"What's it all mean?!" you ask?...Well, its good! Check this out:
- 18 more families are enjoying their recent home purchase this month than last month
- 56 more families are celebrating in their recently purchased home this year than last year at this time
- There are fewer Buyers for New construction and custom homes
- There are fewer new constrcution homes available
- If not another home were listed, we only have enough homes available for 5.8 months. A "balanced market" in our area is 5-6 months worth of inventory.
This is good news for The Greater Wichita area. We have seen only a small decline (average) in property values over the last 24 months. Less than 2% -
and in some areas, we have seen inreases of 1.5%.
Looking to buy or sell? Seriously now is the time! Interest rates rock!, the market is good and great things are on the horizon for our area.