Tuesday, August 13, 2013

Wichita Area Stats (July 24th 2013)

It is important to have a local Stats report- Per Town-Zip Code-Neighborhood:
This is the Wichita Area Stats report: 
As of July 24th 2013...3 are NEW and RESALE, 3 are NEW CONSTRUCTION only.  All are for SEDGWICK and BUTLER counties residential.

These are ALL homes:
PRICE:  Staying VERY steady.  Going back 3 years, by QUARTER, I can send a report showing the  sold dipped some last year, MOSTLY our sold and listed prices have stayed very much the same.  This DOES NOT reflect a home price, but rather median price of all homes old in the Local MLS.(Multi listing Service)

SUPPLY AND DEMAND:  We expected to see more dramatic results on the SOLD side.  Our take is we are BETTER, but not so much that I’m blown over.  This is skewed by the Government plans in 2nd Quarter 2010, but not that much.  The FOR SALE is more of a shock.  Downs 17% from 2010.   That’s part of the reason we here radio ads seeking listings.   We currently have just under 4 months’ supply of homes on the market.  THIS is a swing to a sellers’ market, but the SELLING PRICE isn’t rising yet.  This may be a slow market reaction, but We believe appraisals also control this.  Rise will be slow.

DOM:  Last month, Average DOM was 69 days.  10% lower than June 2011, and the first time in 2 years we've been below 70 days on the market.

These are NEW CONSTRUCTION homes:
PRICE:  New home prices have risen steadily over 3 years.  No surprise, cost to build keeps rising.  Average New Home size in the last 3 years?  1526 feet,  with an AVERAGE TOTAL FINISH Square Foot of 2063.   Average SOLD, Dollar per square home FINISHED (up and down), $114/ft.  BUT – that includes those homes with finished basements.

SUPPLY AND DEMAND:  No shock here.  LISTINGS have dwindled, tho have started to rise recently.  Sold Homes have stated to rise a little as well, but FAR below our early 2000’s numbers. 

DOM:  This is tougher: Custom build homes CAN lengthen the time IF the agent input the home at time of sale; is dependent on WHEN the spec was input; dependent on IF the spec was listed with a NEW MLS NUMBER.  Still, looking at the numbers, New Home DOM is more than TWICE resale, and often a lot higher.

Call me for your Customized Stats Report for Your specific Neighborhood..316-990-5944
Realty World : Crystie Macormac

No comments:

Post a Comment