September 2009 Market Report for the Wichita, KS Area - Are we in a Seller's Market here? Really?

New WAAR report shows that our market has been a Seller's Market for a bit and although inventory has increased slightly, it's still leaning towards more of a Seller'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.

For instance, this chart was pulled from the marketing report and shows the breakdown of sales in price ranges for September.

You can see that out of 816 sales for the month, 584 or 72% of them were for homes under $159,999. That's the ones bracketed in Red for you. The ones in Green are what I call the "sweet spot" - 35% of ALL sales were between $100,000 and $159,999!

I'd say 100% that anything in the sweet spot is a Seller's Market, and pretty surely anything under $159,999.

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. If you're selling, you should be able to line up buyers.

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!

For more information about the market report and how it relates to your situation, drop me a line!