How much have Wichita home sale prices gone up in the past few years? See the numbers
The median home sale price in Wichita in February was about $20,000 higher than it was the year before, according to data from real estate site Redfin.
The median sale price last month was $214,988, beating last February’s median price of $194,959.
In January, the median price in the city was $199,861, according to Redfin, which is almost $12,000 higher than January 2022 at $187,980.
Note: This graphic will automatically update as new data become available.
Median home sale prices in Wichita have fairly steadily increased since 2020, according to Redfin’s data. That year started with a $157,425 median home sale price in January and ended at $183,300.
It was a year of sharp real estate trends, with the coronavirus pandemic at least in part driving huge gains, including recording-setting home sales, according to Forbes. Since 2020, growth has continued, though rising interest rates have cooled the thirst of some buyers in recent months.
January 2021 saw a $181,988 median sale price in Wichita, according to Redfin, which jumped to $205,312 in December of that year. By the end of 2022, the median sale price in the area had hit $218,738, though that year saw a high of $235,650 in May.
The highest the median sale price has reached so far this year was $230,000 Feb. 12, according to Redfin, which is about $5,000 lower than last year’s all-time high.
The lowest the median price has reached in the past six years was $133,212 in March 2017.
Note: This graphic will automatically update as new data become available.
According to real estate site Realtor.com, Wichita is a buyer’s market, which means there are more homes for sale than buyers.
Redfin says homes are usually sold within 13 days of the initial listing, which compares to a 48-day average last year. Redfin also reports 31.7% of homes sell above the list price. There were 284 homes sold in January, compared to 359 the previous year.
This story was originally published March 14, 2023 at 11:09 AM.
