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Market Reports

Market Report for April 2012

5/12/2012

The South Central Kansas MLS releases the April Wichita-area home sales figures.

Existing home sales increased 0.8% between March and April according to the latest figures released by the South Central Kansas MLS, but decreased by 0.8% on a year over year basis. Existing homes sales in April totaled 627, up from 622 units in March. The median sales price of existing homes in April increased 8.5% compared to March, and increased 5.8% on a year over year basis. New home sales in April increased 8.3% from March with 39 units sold. The April median sale price of new homes decreased to $211,000 from $229,055 in March and is 7.8% lower than one year ago. Existing home inventory this month increased to 3,803 homes in inventory compared to 3,678 last month. The existing home inventory this month is 7.4% lower than it was a year ago when the existing home inventory was 4,105. New home inventory decreased this month with 274 homes in inventory compared to 288 new homes on the market last month. The new home inventory is 27.3% lower than it was a year ago at this time when there were 377 new homes on the market. New and existing home inventory combined was 4,077 homes this month compared to 3,966 last month representing a 2.8% increase in the past month. One year ago the combined inventory was 4,482 which represents 9% decrease in total inventory over the past year. Months of Inventory is determined by taking the inventory and dividing it by the number of sales. A balanced market is considered to be a 5-6 month supply. If the supply exceeds 6 months, the market begins to favor buyers. When the supply is less than 5 months, the market tends to favor sellers. Months of inventory for existing homes increased to 6.1 in April, indicating a mostly balanced market. Months of inventory for new homes decreased this month to 7 months of inventory compared to 8 last month.

Market Report for March 2012

4/20/2012

The South Central Kansas MLS releases the March Wichita-area home sales figures.

Existing home sales increased 32.6% between February and March according to the latest figures released by the South Central Kansas MLS, and increased by 11.1% on a year over year basis. Existing homes sales in March totaled 622, up from 469 units in February. The median sales price of existing homes in March increased 10.7% compared to February, but decreased 0.5% on a year over year basis. New home sales in March increased 24.1% from February with 36 units sold. The March median sale price of new homes increased to $229,055 from $200,185 in February but is 8.6% lower than one year ago. Existing home inventory this month increased to 3,678 homes in inventory compared to 3,567 last month. The existing home inventory this month is 7% lower than it was a year ago when the existing home inventory was 3,955. New home inventory decreased this month with 288 homes in inventory compared to 300 new homes on the market last month. The new home inventory is 30.1% lower than it was a year ago at this time when there were 412 new homes on the market. New and existing home inventory combined was 3,966 homes this month compared to 3,867 last month representing a 2.6% increase in the past month. One year ago the combined inventory was 4,367 which represents 9.2% decrease in total inventory over the past year. Months of Inventory is determined by taking the inventory and dividing it by the number of sales. A balanced market is considered to be a 5-6 month supply. If the supply exceeds 6 months, the market begins to favor buyers. When the supply is less than 5 months, the market tends to favor sellers. Months of inventory for existing homes decreased to 5.9 in March, indicating a balanced market. Months of inventory for new homes decreased this month to 8 months of inventory compared to 10.3 last month.

Market Report for February 2012

4/20/2012

The South Central Kansas MLS releases the February Wichita-area home sales figures.

Existing home sales increased 16.7% between January and February according to the latest figures released by the South Central Kansas MLS, and increased by 22.8% on a year over year basis. Existing homes sales in February totaled 469, up from 402 units in January. The median sales price of existing homes in February increased 3.3% compared to January, but decreased 7.8% on a year over year basis. New home sales in February increased 52.6% from January with 29 units sold. The February median sale price of new homes increased to $200,185 from $186,121 in January but is 8.2% lower than one year ago. Existing home inventory this month increased to 3,567 homes in inventory compared to 3,450 last month. The existing home inventory this month is 6.5% lower than it was a year ago when the existing home inventory was 3,816. New home inventory decreased this month with 300 homes in inventory compared to 317 new homes on the market last month. The new home inventory is 31.7% lower than it was a year ago at this time when there were 439 new homes on the market. New and existing home inventory combined was 3,867 homes this month compared to 3,767 last month representing a 2.7% increase in the past month. One year ago the combined inventory was 4,255 which represents 9.1% decrease in total inventory over the past year. Months of Inventory is determined by taking the inventory and dividing it by the number of sales. A balanced market is considered to be a 5-6 month supply. If the supply exceeds 6 months, the market begins to favor buyers. When the supply is less than 5 months, the market tends to favor sellers. Months of inventory for existing homes decreased to 7.6 in February, indicating a buyers market. Months of inventory for new homes decreased this month to 10.3 months of inventory compared to 16.7 last month.

Market Report for January 2012

4/20/2012

The South Central Kansas MLS releases the January Wichita-area home sales figures.

Existing home sales decreased 30.6% between December and January compared to a 41.5% decrease for the same period last year according to the latest figures released by the South Central Kansas MLS. Existing home sales increased by 28.4% on a year over year basis compared to a 1.95% increase for the same period last year. Existing homes sales in January totaled 402, down from 579 units in December. The median sales price of existing homes in January decreased 17.5% compared to December, and decreased 4.8% on a year over year basis compared to a 12.1% decrease for the same period last year. New home sales in January decreased from December with 19 units sold. The January median sale price of new homes increased to $186,121 from $179,500 in December but is 14.2% lower than one year ago. Existing home inventory this month increased to 3,450 homes in inventory compared to 3,374 last month. The existing home inventory this month is 8.1% lower than it was a year ago when the existing home inventory was 3,755. New home inventory decreased this month with 317 homes in inventory compared to 321 new homes on the market last month. The new home inventory is 30.8% lower than it was a year ago at this time when there were 458 new homes on the market. New and existing home inventory combined was 3,767 homes this month compared to 3,695 last month representing a 1.9% increase in the past month. One year ago the combined inventory was 4,213 which represents 10.6% decrease in total inventory over the past year. Months of Inventory is determined by taking the inventory and dividing it by the number of sales. A balanced market is considered to be a 5-6 month supply. If the supply exceeds 6 months, the market begins to favor buyers. When the supply is less than 5 months, the market tends to favor sellers. Months of inventory for existing homes increased to 8.6 in January, indicating a buyers market. Months of inventory for new homes increased this month to 16.7 months of inventory compared to 7.8 last month.

Market Report for December 2011

4/20/2012

The South Central Kansas MLS releases the December Wichita-area home sales figures.

Existing home sales increased 14.9% between November and December according to the latest figures released by the South Central Kansas MLS, and increased by 8.2% on a year over year basis. Existing homes sales in December totaled 579, up from 504 units in November. The median sales price of existing homes in December increased 2.7% compared to November, but decreased 3.2% on a year over year basis. New home sales in December were unchanged from November with 41 units sold. The December median sale price of new homes decreased to $179,500 from $238,786 in November and is 12.7% lower than one year ago. Existing home inventory this month decreased to 3,374 homes in inventory compared to 3,607 last month. The existing home inventory this month is 9.7% lower than it was a year ago when the existing home inventory was 3,735. New home inventory decreased this month with 321 homes in inventory compared to 334 new homes on the market last month. The new home inventory is 32% lower than it was a year ago at this time when there were 472 new homes on the market. New and existing home inventory combined was 3,695 homes this month compared to 3,941 last month representing a 6.2% decrease in the past month. One year ago the combined inventory was 4,207 which represents 12.2% decrease in total inventory over the past year. Months of Inventory is determined by taking the inventory and dividing it by the number of sales. A balanced market is considered to be a 5-6 month supply. If the supply exceeds 6 months, the market begins to favor buyers. When the supply is less than 5 months, the market tends to favor sellers. Months of inventory for existing homes decreased to 5.8 in December, indicating a balanced market. Months of inventory for new homes decreased this month to 7.8 months of inventory compared to 8.1 last month.

Market Report for November 2011

4/20/2012

The South Central Kansas MLS releases the November Wichita-area home sales figures.

Existing home sales decreased 3.6% between October and November according to the latest figures released by the South Central Kansas MLS, but increased by 2.6% on a year over year basis. Existing homes sales in November totaled 504, down from 523 units in October. The median sales price of existing homes in November decreased 2.1% compared to October, and decreased 4.4% on a year over year basis. New home sales increased in November with 41 units sold up from 35 in October. The November median sale price of new homes increased to $238,786 from $206,985 in October and is 11% higher than one year ago. Existing home inventory this month decreased to 3,607 homes in inventory compared to 3,911 last month. The existing home inventory this month is 6.4% lower than it was a year ago when the existing home inventory was 3,854. New home inventory decreased this month with 334 homes in inventory compared to 343 new homes on the market last month. The new home inventory is 29.5% lower than it was a year ago at this time when there were 474 new homes on the market. New and existing home inventory combined was 3,941 homes this month compared to 4,254 last month representing a 7.4% decrease in the past month. One year ago the combined inventory was 4,328 which represents 8.9% decrease in total inventory over the past year. Months of Inventory is determined by taking the inventory and dividing it by the number of sales. A balanced market is considered to be a 5-6 month supply. If the supply exceeds 6 months, the market begins to favor buyers. When the supply is less than 5 months, the market tends to favor sellers. Months of inventory for existing homes decreased to 7.2 in November, indicating a buyers market. Months of inventory for new homes decreased this month to 8.1 months of inventory compared to 9.8 last month.

Market Report for October 2011

4/20/2012

The South Central Kansas MLS releases the October Wichita-area home sales figures.

Existing home sales decreased 21.4% between September and October according to the latest figures released by the South Central Kansas MLS, but increased by 4.4% on a year over year basis. Existing homes sales in October totaled 523, down from 665 units in September. The median sales price of existing homes in October decreased 4.1% compared to September, and increased 1.4% on a year over year basis. New home sales increased in October with 35 units sold down from 28 in September. The October median sale price of new homes increased to $206,985 from $203,000 in September but is 8.1% higher than one year ago. Existing home inventory this month decreased to 3,911 homes in inventory compared to 4,021 last month. The existing home inventory this month is 4.1% lower than it was a year ago when the existing home inventory was 4,078. New home inventory increased this month with 343 homes in inventory compared to 341 new homes on the market last month. The new home inventory is 26.1% lower than it was a year ago at this time when there were 464 new homes on the market. New and existing home inventory combined was 4,254 homes this month compared to 4,362 last month representing a 2.5% decrease in the past month. One year ago the combined inventory was 4,542 which represents 6.3% decrease in total inventory over the past year. Months of Inventory is determined by taking the inventory and dividing it by the number of sales. A balanced market is considered to be a 5-6 month supply. If the supply exceeds 6 months, the market begins to favor buyers. When the supply is less than 5 months, the market tends to favor sellers. Months of inventory for existing homes increased to 7.5 in October, indicating a buyers market. Months of inventory for new homes decreased this month to 9.8 months of inventory compared to 12.2 last month.

Market Report for September 2011

4/20/2012

The South Central Kansas MLS releases the September Wichita-area home sales figures.

Existing home sales decreased 5.3% between August and September according to the latest figures released by the South Central Kansas MLS, and increased by 20.9% on a year over year basis. Existing homes sales in September totaled 665, down from 702 units in August. The median sales price of existing homes in September decreased 14.2% compared to August, and increased 6.3% on a year over year basis. New home sales decreased in September with 28 units sold down from 50 in August. The September median sale price of new homes decreased to $203,000 from $227,005 in August but is 8% higher than one year ago. Existing home inventory this month decreased to 4,021 homes in inventory compared to 4,056 last month. The existing home inventory this month is 6.9% lower than it was a year ago when the existing home inventory was 4,318. New home inventory increased this month with 341 homes in inventory compared to 335 new homes on the market last month. The new home inventory is 31.4% lower than it was a year ago at this time when there were 497 new homes on the market. New and existing home inventory combined was 4,362 homes this month compared to 4,391 last month representing a 0.7% decrease in the past month. One year ago the combined inventory was 4,815 which represents 9.4% decrease in total inventory over the past year. Months of Inventory is determined by taking the inventory and dividing it by the number of sales. A balanced market is considered to be a 5-6 month supply. If the supply exceeds 6 months, the market begins to favor buyers. When the supply is less than 5 months, the market tends to favor sellers. Months of inventory for existing homes increased to 6 in September, indicating a balanced market. Months of inventory for new homes increased this month to 12.2 months of inventory compared to 6.7 last month.

Market Report for August 2011

4/20/2012

The South Central Kansas MLS releases the August Wichita-area home sales figures.

Existing home sales increased 2.6% between July and August according to the latest figures released by the South Central Kansas MLS, and increased by 32.2% on a year over year basis. Existing homes sales in August totaled 702, up from 684 units in July. The median sales price of existing homes in August increased 8.5% compared to July, and increased 21.6% on a year over year basis. New home sales decreased by one unit in August with 50 units sold from 51 in July. The August median sale price of new homes increased to $227,005 from $206,000 in July and is 19.9% lower than one year ago. Existing home inventory this month decreased to 4,056 homes in inventory compared to 4,198 last month. The existing home inventory this month is 7.4% lower than it was a year ago when the existing home inventory was 4,378. New home inventory decreased this month with 335 homes in inventory compared to 357 new homes on the market last month. The new home inventory is 32.3% lower than it was a year ago at this time when there were 495 new homes on the market. New and existing home inventory combined was 4,391 homes this month compared to 4,555 last month representing a 3.6% decrease in the past month. One year ago the combined inventory was 4,873 which represents 9.9% decrease in total inventory over the past year. Months of Inventory is determined by taking the inventory and dividing it by the number of sales. A balanced market is considered to be a 5-6 month supply. If the supply exceeds 6 months, the market begins to favor buyers. When the supply is less than 5 months, the market tends to favor sellers. Months of inventory for existing homes decreased to 5.8 in August, indicating a balanced market. Months of inventory for new homes decreased this month to 6.7 months of inventory compared to 7.0 last month.


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