Topeka Housing Market Stats – May 2020

June 10, 2020

The spring market is hot and buyers are flooding the market competing for the best homes. While total sales dropped on 64 units over last year, we believe this is simply because the housing inventory is in limited supply and not enough homes are available for the number of buyers looking! Homes values have increased 10.4% compared to the same time last year. This is great news for home sellers!

Listing inventory is down from 354 homes for sale last year to only 187 at the end of the month this year. That is a decrease of just over 47.9%. Surprisingly 57.7% of the new listings coming on the market are selling in less than 10 days! With the lowest interest rates in years, it’s a great time to buy, and with anxious buyers and limited inventory, it’s a great time to sell!