Wichita real estate market update:

Wichita real estate market update:

2006 area real estate sales were 3% higher than the year before. Starting 2007 the number of residential homes for sale was down 2.5% from the year before and March 1, 2007 data showed residential listings were down 5 ½% from March, 2006. What does this mean for you? Unlike most area of the country where total residential inventory has climbed 10 to 40%, the Wichita market is very stable. The fact that we actually had a winter last year may have kept some homes off of the market. Inventories may increase in the next few months but the increased spring demand for housing should keep our market very stable for the next few months.

The average sales price of an existing home sold the 1st part of 2007 was $108,000. 850 existing homes were listed for sale and 555 went under contract. Average days on the market were 70 with the average selling price at 96.9% of the last listed price.
Homes in west Wichita were on the market an average of 42 days compared to 73 days for homes in NE Wichita. Derby and SE Sedgwick County had listing on the market an average of 93 days before contract. The average sale price of new Construction was $205,754 for the first few months of 2007. 55% of all homes sold had buyers represented by a Realtor from a different company than the listing Realtor.

RE/MAX and RE/MAX Realty Professionals win top awards for 2007 Production:

RE/MAX Realtors are #1 in the world in real estate sales

RE/MAX Realtors are #1 in North America and the U.S. in real estate sales

RE/MAX Realtors are #1 in Kansas in real estate sales

RE/MAX Realtors are #1 in The Wichita MSA in listing sides sold and #2 in total sides sold

RE/MAX Realty Professionals are #1 in listing sold per agent and total sides sold per agent in the Wichita MSA

RE/MAX Realty Professionals West office with 35 agents was the #1 office in Listings sold in the Wichita MSA

RE/MAX Realty Professionals two offices took #1 and #2 in Kansas for units sold per agent among all RE/MAX offices and the West office was #1 in total sides sold

RE/MAX Realty Professionals only has 2% of all Wichita Realtors but made up 20% of the top 45 Realtors and 25% of the top 12 Realtors in sides sold.

RisMedia just released their annual Power Broker Report ranking the top 500 real estate companies in total sales. RE/MAX offices made up 32% of the top 500 companies even though RE/MAX only have 7% of all U.S. agents. Only 8 Kansas firms were ranked and only 4 Wichita based companies made the list. RE/MAX Realty Professionals with just 50 agents was ranked 318 in the nation and no company with fewer agents was ranked higher. Our company ranked in the top 3 in the nation in sales per associate-the most efficient sales agents in America.

Congratulations to all of the agent's staff and management at RE/MAX Realty Professionals