October, 2012 Wichita Area Home Sales Data
Existing home sales in October, 2012 increased 17.3% over September, 2012 according to dada released by the South Central Kansas MLS. They also increased 37.1 % over October, 2011. Total sales of existing homes thru October, 2012 were 8% above the same time period in 2011. The median sales price of existing homes was $124,186. This was .9% over September and 9.5% over the same month in 2011.
New home inventory was down 28% from a year ago with 40 units sold last month. The median price was 13% higher than a year ago at $233,836.
Total Existing home inventory is 8.7% less than a year ago and with the increased sales activity bodes well for the Wichita, KS metro market.
Existing months of inventory based on last month’s sales were 5 months indicating the top edge of a balanced market. Average days on the market (DOM) for the entire metro area was 96 days with the average sale at 96.2% of asking price. West Wichita appeared to have the best market with DOM at 76 days for October and an average list to sales price at 97.41%. Median sales price was $144,000.
NE Wichita was 102 days and 95.34%
SE Wichita was 103 days and 95.75%
SW Wichita was 79 days and 96.65%
SE Suburban Sedgwick County including Derby was 88 days and 97.45%
Butler County was 111 days and 95.7%
20% of all sales were cash in October. 40% of all sales were Conventional loans, 23% were FHA loans and 5% were VA loans.
30 Year fixed rate loans are 3.50% and 15 year loans are at 2.75%
Wayne "SHORTY" Short, ABR, CRB, CRS
Broker/Owner
RE/MAX Realty Professionals
East and West Wichita offices
316-554-2831: office
316-616-3883: FAX
www.move2ks.com or www.realtor-shorty.com
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