RE/MAX out-produced others 2-to-1 in 2010
It’s what matters most to buyers and sellers in the real estate market. If you are considering making a move now or in the future, or recommending a real estate professional, I’d appreciate your consideration.
For the 13th consecutive year, nobody sells more real estate than RE/MAX!
Compare RE/MAX vs the rest of the leading brands
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 Total listings input (includes currently active, sold, pending, expired & withdrawn) as of the end of March 2011 were 1170, compared to 1270 for the same period in 2010 and 1045 in 2009.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.
Pepper Tree Villa coming up soon – get on the list!
Sometime very soon, I will have a Pepper Tree “Villa”-style home available. The villa is a free-standing building, with small private yard & patio (fence and gate) and double attached garage. This is 3 bedrooms, 3 full bathrooms, kitchen (with eating space), living room (2 large sections, one with fireplace, one with enclosed wet bar) and full unfinished basement.
Laundry is in the basement. 2 bedrooms are on the main floor, and one is on an upper level with a loft-style overlook to a section of the living room. There is lots of storage space.
One full bathroom is off the main floor hallway, another off the main floor master bedroom, and another off the 3rd bedroom (upstairs).
This unit is very dated and is priced accordingly so that the buyer can have it professionally painted inside, and update countertops and flooring as they desire.
I anticipate that at the time of availability, we’ll have a professional home inspection available and possibly other information.
The homeowner association dues at Pepper Tree are $295/mo. and include exterior maintenance (exterior painting, mowing, snow removal, roof replacement currently being done over a 7-year period, water, sprinklers, pool, community streets, trash, etc.) For complete details about the home owners association and the community in general, visit the Pepper Tree website.
This property is not yet available, but will be soon. To get on the list to be notified,
send an email to Jerry Long with Pepper Tree Notification as the subject line.
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.
