May, 2012 MLS stats for the Wichita, KS metro area5/15/2012
May, 2012, Real Estate sales update.
Data from Wichita, MLS
Real Estate Sales have increased every month in 2012 and are higher than the same period for 2011. Existing home sales increased 0.8% between March and April and are basically flat for the same one month period in 2011. Good News: The median sales price of existing homes sold in April increased 8.5% compared to March and increased 5.8% on a year over year basis. Existing home inventory increased each month in 2012 to 3,803 units. That number is still 7.4% lower than a year ago.
New home sales in April increased 8.3% over March. Average sales price YTD is $259,479.
Year to Date info on sales:
Average days on the market (DOM) for the metro area is 104 days
79 DOM for west Wichita
116 DOM for NE Wichita
96 DOM for SE Sedgwick County including Derby
84 DOM for SW Sedgwick County including Goddard
There was 6 months of inventory available for sale based on the number of homes sold in April. This number is for a balanced market but still close to a sellers market
Average % last list price to Sales price was 95.82%. This rate does NOT include any seller concessions.
Average YTD sales price of an existing home was $113,790 and $259,479 for a new home sold.
27% of April sales were cash, 40% were conventional loans and 34% were government loans (FHA&VA)
Interest rates in April averaged 3.88% nationally. Local rates are in the 3.75 to 4% range for a 30 year fixed rate loan.