Your Home Newsletter – February 2012
Topeka Market Report through December, 2011
As of January 1, there were 976 active listings in our market area and 221 sales pending with an average price of $121,915. 2592 properties were sold and closed in 2011, of which 481 were foreclosures and 24 were short sales. The current absorption rate is 5.0 months, with an average days on the market of 81. 4489 listings were input during 2011.
*Market Area includes Shawnee, Douglas, Jackson, Jefferson, Osage, Pottawatomie and Wabaunsee Counties
Your Home Newsletter – January 2012
Your Home Newsletter – December 2011
Topeka Market Report Through October 2011
October solds (transactions actually closed) were down by 35 units, or about 16% vs September. Year to date (YTD) through October for 2011 had 2197 units sold, down 5 units or less-than-one% from the same period last year. (There were 2202 during this period in 2010, 2208 in 2009, and 2449 in 2008.)
As of 10-31-11, there were 1226 active (for sale) properties listed on the market, with an average list price of $142,193. Total listings input (includes currently active, sold, pending, expired & withdrawn) as of the end of October 2011 were 4045,compared to 4324 for the same period in 2010 and 4112 in 2009.
The absorption rate for the current inventory of single family units is 7.0 months, compared to 8.0 months in 2010. In 2009, we were at 4.7 months, and in 2008 we were at 5.7 months. Average days on the market (DOM) for sold units was 80 for 2011 at the end of October compared to 76 in 2010, 70 in 2009 and 71 in 2008. As of October 31, there were 259 sales pending (sold, but not yet closed), with an average LIST price of $132,972. (This would be the LIST price at the time the property went from an “active” to “pending” status and would not account for any price reductions, etc. The actual sold price is not available until after the transaction closes).
YTD through October, 2011, 600 closed sales were reported as foreclosure properties, 19 short sales (lender agrees to take less than seller owes) and 19 non-arms length (non traditional) transactions. All these make the YTD total distressed sales as 638, or 26% of total sales.
