FOR IMMEDIATE RELEASE
May 11, 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.
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