Wichita Kansas Area Home Sales Are...Not too Shabby!!

Wichita Kansas Area Home Sales Are...Not too Shabby!

While the rest of the country continues to run screaming from the tragic real estate sales figures; Wichita, Kansas and the surrounding areas are "holding their own".

Here are the stats for August 2011:

• Existing home Sales increased by 2.6% from July
• Exisitng home Sales are up 32.2% from last year at this time
• New homes sales decreased by 19.9% year over year
• New Home inventory is 32.3% lower than a year ago
• New and Existing home combined inventory is 9.9% lower than a year ago

"What's it all mean?!" you ask?...Well, its good! Check this out:

• 18 more families are enjoying their recent home purchase this month than last month
• 56 more families are celebrating in their recently purchased home this year than last year at this time
• There are fewer Buyers for New construction and custom homes
• There are fewer new constrcution homes available
• If not another home were listed, we only have enough homes available for 5.8 months. A "balanced market" in our area is 5-6 months worth of inventory.

This is good news for The Greater Wichita area. We have seen only a small decline (average) in property values over the last 24 months. Less than 2% -

and in some areas, we have seen inreases of 1.5%.

Looking to buy or sell? Seriously now is the time! Interest rates rock!, the market is good and great things are on the horizon for our area.