The warmer months are here which means a move for many people! We always see an uptick in activity over the summer and it will be the same for this year as well.
So…There’s been talk in the press about significant price cuts in the market. This was a nationwide prediction only if inventory increases dramatically and there is more competition for sellers. Could this eventually happen in Wichita? Are prices beginning to level out? Yes! This has been a SLOW change that started to occur in August of 2024. Buyers today are in a stronger bargaining position than they have been since the COVID years. Despite this, we still believe the market is currently in the favor of the seller.
Whether buying or selling, the hot properties continue to be those priced in the $150,000 to $250,000 range as well as small acreages. We are still seeing multiple offers and shorter days on market for these properties. On another note, more homes are on the market right now than August of 2020 and inventory is up about 20% more than this time last year. That means buyers who can afford to act now are in a good position!
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