Kansas Market Stats through April of 2010
Kansas home sales rose by an amazing 42.5% in April compared to the same period last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 3242 units in April, up from 2,275 units in 2009. In comparison, sales on a national level increased 22.8% for the month.
Across the state there were 18,459 active listings at the end of the month. Supply of new and existing homes on the market — which is determined by taking the number of active listings and dividing it by the number of sales — represents 5.7 months compared to 7.6 months in March of this year.
KAR President, Brian Jones, Broker/Owner of Jones Heritage REALTORS® in Pittsburg, Kansas said that the dramatic increase in sales activity was driven by the homebuyer tax credit which required contracts to be written by April 30, 2010 and closed by June 30, 2010 in order to qualify. “We anticipate that closings over the next few months should rise across the state, which will be good for the economy at both the local and state levels.”
The statewide average sale price of homes last month was $155,670, compared to $152,220 in April 2009. This represents an increase of 2.3%. The statewide median sale price last month was $145,000 compared to $138.450 for April last year. According to the National Association of REALTORS®, the median home price in the Midwest rose 5.8% to $146,400. The national median home price was $173,100, which is 4.0% above last year. The median price is where half sold for more and half sold for less.
According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage last week was 4.84%.
Source: Kansas Association of REALTORS®
Changes Coming For My Property Search
For the longest time, I have had the greatest property searches (maps, etc.) on my website. Changes are coming – it will still be a great search with additional features, but it will be different. If you currently have a search saved, it will, unfortunately, go away when the change is made. Please try out the new system when it happens!
When will it happen? Probably this week sometime, depending on how quickly the web developers get it figured it out and the local MLS cuts off the old “feed.”
Why is it happening? The rules are a bit archaic, and I think we are one of the few (less than 5% in the country) that have this rule, but our local MLS does not allow “agents” to have IDX websites. IDX = Internet Data Exchange. Even though the property search portion of my site has been run using an approved IDX vendor, it’s still not allowed. Only “Brokers” are allowed to have IDX “feeds.” Although I am a Broker, in the MLS sense, I will be a seller/buyer agent within another company, rather than the Broker/Owner of my own company.
Anyway, one of the things I do is comply with the rules, even when I complain loudly and make an effort to get them changed. Probably, the old IDX “feed” will be cut off on Tuesday or Wednesday. Hopefully by that time, you’ll find something on my website to take its place. It will be the “feed” through the RE/MAX mid-states region, and though different, has some wonderful features.
I am sure sorry for the inconvenience!
—–Jerry
Jerry Long Affiliates With RE/MAX Associates of Topeka
PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: Jerry Long 273-1100
JERRY LONG AFFILIATES WITH
RE/MAX ASSOCIATES OF TOPEKA
(TOPEKA, KS) (May 26, 2010) — Jerry Long has joined RE/MAX Associates of Topeka as an Associate Broker. The move was announced by Connie Davidson, Managing Broker of the firm and Greg Armbruster, President. “We’re excited to have Jerry back in the RE/MAX family,”
Davidson said.
RE/MAX,Associates of Topeka was founded in 1985, and is an independently owned and
operated franchisee of RE/MAX International. RE/MAX was founded in 1973 and now
provides real estate services in over 70 countries. RE/MAX Sales Associates
help more families buy and sell real estate every year than any other brokerage
organization in the world. Long will specialize in providing professional
representation to buyers and sellers of residential real estate in Topeka and
the surrounding areas.
Long was an Associate Broker with RE/MAX for 17 years before joining the senior
management team of another firm, during which time he received several
management excellence awards from the national franchisor. Most recently, he
was Broker/Owner of Jerry Long Real Estate. His new office is located in the
RE/MAX building at 5815 SW 29th Street in Topeka.
Long was licensed in 1986 and holds a Kansas Real Estate Broker’s License. He holds
the ABR (Accredited Buyer Representative), CRB (Certified Residential Brokerage
Manager), CRS (Certified Residential Specialist), GRI (Graduate Realtor
Institute) and SRES (Seniors Real Estate Specialist) professional
designations. A leader in the real estate industry, Long has served as
President of the Topeka Area Association of REALTORS® and Topeka Area Multiple
Listing Service, Inc. in 2004. He is a member of the National Association of
REALTORS®, has been a Director of the Kansas Association of REALTORS® and is
active in community affairs.
Long has consistently been a top agent in the Topeka Area Association of REALTORS®,
and has received their REALTOR® of the Year and Master’s Club awards. He was
consistently a member of the RE/MAX 100% club and was inducted into the RE/MAX
Hall of Fame in 2001. Long can be reached by telephone at 785-273-1100, by
email at Jerry@JerryLong.com or on the web at www.TopekaHomeSearch.com.
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10 Best Cities for the Next Decade – Kiplinger
I knew what a great city we have – did you? Kiplinger Magazine has released their list of the 10 Best Cities for the Next Decade. Guess who made it? This is a wonderful affirmation for our fair city.
10 Best Cities for the Next Decade – Kiplinger
Topeka Market Report through April, 2010
The market looks much improved through April! Much of this is likely due to those scrambling to make the deadline of April 30 for having a home under contract to take advantage of the tax credit.
Year-to-date (YTD) through April, there were 754 homes sold, up from 120 (or almost 19%) from the same period in 2009. Average days on the market for those was 84 days, exactly the same as 2009.
At the end of April, there were 494 sales pending (under contract, but not closed yet) and 1457 active listings. The current absorption rate for all active listings (at the current rate of sale) was 4.9 months, down from 6.5 for the same time last year!
