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With inflation reaching new four-decade high, the local housing market has shifted to favor buyers. Percentages are based on the number of housing units for each type over the total number of units across all types. The percentage of housing units in the city that are occupied by the property owner versus occupied by a tenant . Median home value is the value which has equal numbers of homes valued above and below it.
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Living in Southwest Wichita
Home prices — The frenzied demand that characterized the market through the early part of this year appears to have eased. Nevertheless, extremely tight inventories will continue to put upward pressure on home prices. Kansas City values should end the year up 13.8% before slowing to 6.5% in 2023. Construction — New home construction activity in the Wichita area is expected to rise 5.2% this year to 1,530 units. This trend should continue in 2023, with permitting activity rising another 2.6% to 1,570 units. Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
Our Wichita real estate stats and trends will give you more information about home buying and selling trends in Wichita. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Home offer insights for Wichita
There were 369 homes sold in November this year, down from 527 last year. Construction — New home construction activity in the Manhattan-Junction City area is expected to rise by 3.4% to 275 units this year in spite of supply chain issues and a shortage of labor. This should continue in 2023, with permits increasing another 3.6% to 285 units.
Can sell for about 3% above list price and go pending in around 3 days. The average sale price of a home in Wichita was $195K last month, down 2.7% since last year. The average sale price per square foot in Wichita is $106, up 6.0% since last year. Home prices — Home values in the Manhattan-Junction City metropolitan area are on pace to rise by 9.3% this year. The market should normalize in 2023, with home values rising by a solid but more-typical 4.2%.
W Blake Ct, Wichita, KS 67235
It’s a place to connect with a local agent, explore financing solutions, schedule home tours, understand your buying and selling power, and more. Home sales — Lawrence-area home sales are expected to fall by 4.9% this year to 1,470 units due to tight inventories and softening demand. Sales should rebound slightly in 2023, ending the year up 0.7% at 1,480 units.
Most houses for sale are a reasonably short car ride from the closest highway, such as Interstate 235, and it is very convenient to come across a parking spot. Nonetheless, there are around 10 bus lines, and the closest bus stop is usually within walking distance. This city is not very conducive to those who travel by foot since few common errands can be run without the use of a vehicle. Popular neighborhoods include Reflection Ridge, Planeview, Central-Northeast Wichita, East Mount Vernon, and Southwest Wichita. Fire risk estimates the risk of wildfires, based on the likelihood of burning in the future and the potential size and severity of a fire. The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Construction — New home construction activity in the Topeka area has risen markedly over the past several years in spite of supply chain issues and labor market shortages. This trend should continue, with total single-family building permits rising 4.3% this year to 435 units. Construction should taper off somewhat in 2023, falling 2.3% to 425 units. The WSU Center for Real Estate reviewed current housing market conditions in Wichita, Kansas City, Topeka, Lawrence, and Manhattan. It also looked at 23 counties around the state and created a forecast for housing market activity through the end of next year. Homes for sale in Southwest Wichita have a median listing price of $140K.
The new mortgage acquisitions are used to identify repeat transactions for the most recent quarter, then are fed into NeighborhoodScout's search algorithms. Our data are designed to capture changes in the value of single-family homes at the city, town and even the neighborhood level. Different neighborhoods within a city or town can have drastically different home appreciation rates. Our data are built upon median house values in each neighborhood, and combine data from the United States Bureau of the Census with quarterly house resale data. The data reflect appreciation rates for the neighborhood overall, not necessarily each individual house in the neighborhood. Realtor.com® wants to make sure you can search single family homes with ease.
Zillow's metrics aim to inform and support the decision-making process with relevant market data by measuring monthly market changes across various geographies and housing types. WICHITA, Kan. — Whether you are in the market for a new home or trying to sell a home, a new report has information that could help you decide what to do. The 2023 Kansas Housing Markets Forecast says Kansas home values will end 2022 up 12.3% and then rise by another 5.4% next year. The proportion of homes and apartments in the city built within a certain time period. In November 2022, Wichita Falls home prices were up 13.1% compared to last year, selling for a median price of $175K. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Mortgages on properties financed by government-insured loans, such as FHA or VA mortgages, are excluded, as are properties with mortgages whose principal amount exceeds the conforming loan limit. Mortgage transactions on condominiums or multi-unit properties are also excluded. As such, NeighborhoodScout does not produce appreciation rates for neighborhoods that consist solely of renters or have no single-family homes . Home sales — Home sales activity across the state was slowing even before mortgage rates began to rise. Home sales should rebound to 44,930 units in 2023, an increase of 4.2%.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Flood risk data is provided by Risk Factor™, a product of the nonprofit First Street Foundation. Risk Factor™ is a peer reviewed scientific model, designed to approximate flood risk and not intended to include all possible risks of flood. Construction — Single-family permitting activity in the Lawrence area has stabilized at about 270 units annually in recent years.
Sales will rebound slightly in 2023, ending the year up 0.7% at 11,640 units. Overall, Kansas’ home sales will drop about 7% and home values will end the year up about 12.3%. The CRE says the Federal Reserve’s interest rate hikes have caused demand for housing to soften in Wichita, but home prices will continue to increase in 2023 because inventory is so tight.
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