October 2009 - Wichita, KS Market Report

The Ocober WAAR (Wichita Area Association of Realtors) statistical report is out and those who have been watching a little too much TV news might be surprised. The Wichita market area is in a SELLER's Market with only 4.5 months of existing home inventory. 6 is considered a balance market, and more than 6 months is a Buyer's Market. Totally different from what you hear on tv, isn't it?

I agree with WAAR - it's a Seller's Market here... IN SOME PRICE RANGES.

Just like last months' report, you'll notice in the breakdown below that over 75% of all area sales were in the price range of $159,999 and under. Less than a quarter of all sales were over that! I would definitely say that the Under $160k homes are in a Seller's Market with less inventory, more sales, more competition among buyers. And yet again, as last month, the price range with the most sells is that coveted $120,000 - $139,999 range. That's our market's Sweet Spot!

However, I'd say with the very low number of sales above that, the over $160,000 market is still a Buyer's Market, with very long days-on-market and tons of inventory.


So if you're a buyer looking in the $160,000 and under range, better turn that tv off - it's a fight out there to get what you want and there's not going to be any houses in move-in condition priced 50% of value. If you're selling, you should be able to line up buyers as long as you've got the big 4 going for you (Location, Condition, Price, and Marketing!).

If you're wanting to buy over the $160,000 mark, the ball's in your court and there's plenty of choices. Selling? Make sure you're home is the best of the best for the price, easy to show, and ready to go!