MLS Statistics though November Looking Up

I just received the Topeka MLS Statistics for the period ending November 30, 2009 and things are looking up. Just as we’ve been fortunate to never be in the same situation as some of the extreme markets in the U.S., we also appear to be leveling out quicker.

Total closed transactions are down just 6% from the same period last year (last year I would have used 17.2% for that number!). Numbers of listed and sold properties, as well as their respective average and median prices are up. Homes on the market are up just slightly.

November closed trasactions are up (from 147 in 2008) to 232 – that’s an increase of 85 or 57.8% The overall absorption rate (time it takes to sell current inventory) is at 5.509%, down from 8.612% a year ago. Days on the market remain about the same (70, down from 72).

These numbers are everything in the Topeka MLS – all property types, all price ranges, all areas. No doubt the extended and expanded tax credit has some effect on this, as does the recent rallies in the stock market, as does increased consumer confidence. I am cautiously optimistic that 2010 will continue to see our market inch towards “normal.” I’ve said it before and I’ll say it again – we are fortunate to live in a place with a “boringly stable economy” (for the most part).

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