Topeka Market Report through April, 2011
April solds (transactions actually closed) were up by 35 units, or about 16% vs March. Year to date (YTD) through April for 2011 had 717 units sold, down 57 units or about 7% from the same period last year. (There were 634 during this period in 2009, and 832 in 2008.) This is undoubtedly attributable mostly to the $8000 & $6500 tax credits that were available last year.
As of 04-30-11, there were 1366 active (for sale) properties listed on the market, with an average list price of $143,403. Total listings input (includes currently active, sold, pending, expired & withdrawn) as of the end of April 2011 were 1658, compared to 1860 for the same period in 2010 and 1478 in 2009.
The absorption rate for the current inventory of single family units is 5.8 months, compared to 4.9 months in 2010. In 2009, we were at 6.5 months, and in 2008 we were at 5.2 months.
Average days on the market (DOM) for sold units was 85 for 2011 at the end of April compared to 81 in 2010, 81 in 2009 and 78 in 2008. As of April 30, there were 370 sales pending (sold, but not yet closed).
YTD through April, 2011, 250 closed sales were reported as foreclosure properties, 6 short sales (lender agrees to take less than seller owes) and 6 non-arms length (non traditional) transactions.
Topeka Market Report through March, 2011
March solds (transactions actually closed) were up by 69 units, or about 48% vs February.
Year to date (YTD) through March for 2011 had 469 units sold, down 6 units or about 1% from the same period last year. (There were 445 during this period in 2009, and 571 in 2008.)
As of 03-31-11, there were 1305 active (for sale) properties listed on the market, with an average list price of $141,792. Total listings input (includes currently active, sold, pending, expired & withdrawn) as of the end of March 2011 were 1170, compared to 1270 for the same period in 2010 and 1045 in 2009.
The absorption rate for the current inventory of single family units is 6.6 months, compared to 5.8 months in 2010. In 2009, we were at 5.6 months, and in 2008 we were at 5.9 months.
Average days on the market (DOM) for sold units was 88 for 2011 at the end of March compared to 84 in 2010, 76 in 2009 and 77 in 2008. As of March 31, 2011, there were 343 sales pending (sold, but not yet closed).
YTD through March, 111 closed sales were reported as foreclosure properties, 6 short sales (lender agrees to take less than seller owes) and 3 non-arms length (non traditional) transactions.
Topeka Market Report through February, 2011
February solds (transactions actually closed) were up by 33 units, or about 30% vs January. This is very common at this time of year, as more buyers enter the market place, and some sellers still think it might not yet be time to put their home on the market. I do feel the activity picking up and the energy rising – in my own business, through the office, and through my colleagues throughout the city.
Year to date (YTD) through February for 2011 had 253 units sold, up 17 units or about 7% from the same period last year. (There were 236 during this period in 2010, and 238 in 2009.)
As of 02-28-11, there were 1346 active (for sale) properties listed on the market, with an average list price of $135,879. Total listings input (includes currently active, sold, pending, expired & withdrawn) as of the end of February 2011 were 690, compared to 703 for the same period in 2010 and 672 in 2009.
The absorption rate for the current inventory of single family units is 9.4 months, compared to 9.1 months in 2010. In 2009, we were at 7.3 months, and in 2008 we were at 5.7 months.
Average days on the market (DOM) for sold units was 83 for 2011 at the end of February compared to 73 in 2010, 83 in 2009 and 83 in 2008. As of February 28, 2011, there were 238 sales pending (sold, but not yet closed).
YTD through February, 83 closed sales were reported as foreclosure properties, 2 short sales (lender agrees to take less than seller owes) and 3 non-arms length (non traditional) transactions.
Topeka Market Report Through January, 2011
The numbers are in for January, and my analysis is in line with the top economists that I follow – we’re on the road to a slow….but SURE….housing stablization in Topeka. When you look at these numbers, remember what kind of weather we had in January!
Year to date (YTD) through January for 2011 had 110 units sold, up 16 units or about 17% from the same period last year. (There were 94 during this period in 2010, and 84 in 2009.) The average sale price of the solds (YTD) was $107,957 compared to $109,051 in 2010.
As of 01-31-11, there were 1362 active (for sale) properties listed on the market, with an average list price of $134,001. Total listings input (includes currently active, sold, pending, expired & withdrawn) as of the end of January 2011 were 366, compared to 352 for the same period in 2010 and 342 in 2009.
The absorption rate for the current inventory of single family units is 12.4 months, compared to 13.7 months in 2010. In 2009, we were at 13.9 months, and in 2008 we were at 9.3 months.
Average days on the market (DOM) for sold units was 94 for 2011 at the end of January compared to 62 in 2010, 89 in 2009 and 94 in 2008. As of January 31, 2011, there were 223 sales pending (sold, but not yet closed).
YTD through January, 32 closed sales were reported as foreclosure properties, 1 short sale (lender agrees to take less than seller owes) and 2 non-arms length (non traditional) transactions.
Topeka Market Report Through December 2010
December solds (transactions actually closed) were down by 6 units, or about 3-1/2% vs November. Year to date (YTD) through December for 2010 had 2535 units sold, down 82 units or about 3% from the same period last year. (There were 2769 during this period in 2008, and 3353 in 2007.) There were 163 units sold (MLS-Wide) in December 2010, compared to 158 in Decemberof 2009. The average sale price of the solds (YTD) was $135,932 compared to $139,808 in 2009.
As of 12-31-10, there were 1259 active (for sale) properties listed on the market, with an average list price of $135,932. Total listings input (includes currently active, sold, pending, expired & withdrawn) as of the end of December 2010 were 5632, compared to 5561 for the same period in 2009 and 5862 in 2008.
The absorption rate for the current inventory of single family units is 7.4 months, compared to 7.1 months in 2009. In 2008, we were at 7.7 months, and in 2007 we were at 5.7 months.
Average days on the market (DOM) for sold units was 78 for 2010 at the end of December compared to 71 in 2009, 72 in 2008 and 64 in 2007. As of December 31, 2010, there were 173 sales pending (sold, but not yet closed).
YTD through December, 351 closed sales were reported as foreclosure properties, 29 short sales (lender agrees to take less than seller owes) and 18 non-arms length (non traditional) transactions.
