Wichita real estate activity for Jan. 1 to July 31, 2007

Up date for Wichita, KS metro area for Jan. 1 to July 31, 2007

7.054 homes have been sold so far this year, 98% of last years total at this time but 6% ahead of 2005's total at this time.

New listings are running 96% of last years pace and total existing listings on the market are at 95% of last years level and lower than 2005 and 2004 at this same time.

Active new homes available for sale are 2% higher than the same time last year and 4% higher than 2005.

Absorption rates by price range: Jan. 1 to July 31, 2007

$0 to 100,000 433 homes sold and 1664 available

3.85 months of available inventory

$100,000 to $140,000 230 homes sold and 826 available

3.6 months of available inventory

$140,000 to $200,000 234 homes sold and 840 available

3.6 months of available inventory

$200,000 to $300,000 142 homes sold and 541 available

3.8 months of available inventory

$300,000 to $500,000 50 homes sold and 337 available

6.75 months of inventory

Below $300,000, absorption rates are at reasonable levels and represent a balanced market at this time.

Not all agents are created equal. Take a look at the following statistics on agent performance for the same time period:

Kirk, my son, and I have closed over 125 sides during the 1^st 7 months of 2007. Let's compare the rest.

27% of all MLS agents did not have a single closing the 1st 7 months, 50% of the agents had 2 or less sides close in the 1st 7 months.

The top 108 agents did over 1/3 of all business completed which meant that the remaining 90% only averaged only 4.5 sides the 1st 7 months.

Our West office with 30 agents did 773 total sides the 1st 7 months....25.8 sides per agent The entire company was around 22 sides per agent, the best in the city.

We continue to have the #1 office (West) in listings sold, the #3 company in listing sold and the #1 brand/franchise in Listings sold

Top 7 real estate companies in total sides sold for the 1st 7 months:

1 JPW 1815 sides 6.8 sides per agent

2 PRU 1709 4.7

3 CBDB 1130 7.3

4 Plaza 1020 8.0

5 RE/MAX 1013 22.0 The best in the city for the 10^th year

Real Professionals

6 KW west 646 5.9

7 RE west 447 9.7