Topeka Market Report through July 2010

July solds (transactions actually closed) were down by 95 units, or about 31% vs June, which is very typical for this time of year. Year to date (YTD) through July for 2010 had 1611 units sold, up 174 units or about 12.1% from the same period last year. There were 211 units sold in July 2010, compared to 293 in July of 2009. The average sale price of the solds (YTD) was $122,401 compared to $124,434 in 2009.

As of 7-31-10, there were 1358 active (for sale) properties listed on the market, with an average list price of $146,123. Total listings input (includes currently active, sold, pending, expired & withdrawn) as of the end of July, 2010 were 3565, compared to 3232 for the same period in 2009 and 3681 in 2008. I find that many of you are stunned to know the volume of real estate transactions that occur in Topeka – are you?

The absorption rate for the current inventory of single family units is 6.7 months, compared to 7.7 months in 2009. In 2008, we were at 4.3 months, and in 2007 we were at 4.4 months.

Average days on the market (DOM) for sold units was 76 for 2010 at the end of July, compared to 74 in 2009, 74 in 2008 and 66 in 2008.

The Topeka Area Association of REALTORS also has statistics put together by Dr. Stanley Longhofer of the Wichita State University Center for Real Estate that I am sharing with you here if you are interested.

Like what you read?

Stay informed. Sign up for our RSS Feed or Email Updates.