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Winter 2012 Market Update
I think our market has declined at a slower rate than the national market primarily because we don’t have huge price increases even during great market conditions. Our property values remain pretty consistant. What we are seeing is the negative impact that the national news media has on buyers, causing them to be afraid to step out into the buying market. Again I would have to say that we need to do a better job at informing the public that it is a great time to buy a home in Wichita and surrounding communities. Interest rates are fantastic and if you remain within you economic comfort zone, you have the ability to purchase a home that will appreciate in value at a steady rate.
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| Average Home Price | $175,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 5-10% |
| Average Time on Market | 90-120 days |
| Prices As % of Asking Price | 90-95% |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Multiple Offers? | No |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Other |
| Housing Hot Spots | College Hill and Northeast Wichita Derby, Andover, Rose Hill and Maize |
| Average Sold Price | $175,000 - View Graph Trend |
East Wichita Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
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Mortgage Rates
– Feb 9th, 2012 –
---------------------------------
30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.66%
15 yr. jumbo rate: 3.99%
Home Values
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