Topeka Market Report Through June 2010

System-wide (Topeka MLS) sales were down just 15 in June, or about 4.5%, from

321 to 306. I’m sure we’re still seeing a little fall-out from the passing of the deadline to have a home under contract for the tax credit. The deadline was extended for closings of those properties. Had it not been, I have heard that between 180,000-200,000 properties (around 1800 in Kansas) would not have closed. It would have been heart-wrenching for the buyers and sellers, and would have thrown many of those homes back into the inventory of properties for sale.

YTD through June 30, 2010 was up by 256 units, or 22% over 2009, and even 4 units up over 2008! (But still down from the 1698 units YTD in 2007).

To give you an idea, though, of the volume of properties that pass through the stable Topeka market: during the month of June, 306 homes transactions were closed, 266 transactions were pending as of the end of June, and 1480 properties were actively on the market at the end of June. Although the average days on market was 80, 36% of the closed transactions were properties that were on the market over 120 days.

The end of June (2010) absorption rate for all housing inventory in the Topeka MLS was 4.8 months, compared to 6.7 months in 2009, 4.9 months in 2008 and 4.0 months in 2007.

I hope you find these statistics useful; they are as they are provided to me and I like to pass them along to you. I have more statistics, but I think they’d make your head hurt. If there’s anything you want to know and don’t see – call me and we’ll see if it’s something I have available to me.

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