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Construction — Single-family permitting activity in the Kansas City metropolitan area slowed over the first half of this year due to supply chain issues and labor shortages. Kansas City should end the year with 6,295 single-family permits, down 10.7% from 2021. Permitting activity should drop again slightly in 2023, falling 1.7% to 6,185 units. Home sales — Total home sales in the Kansas City area should end the year down 8.3% at 41,940 units due to a combination of a lack of inventory and softening demand. If you're looking to sell your home in the Southwest Wichita area, our listing agents can help you get the best price. Wichita County's median home was 1,704 square feet for a listed price of $126 per square foot.
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Our data are calculated and updated every three months for each neighborhood, city and town, approximately two months after the end of the previous quarter. Each quarter, Fannie Mae and Freddie Mac provide their most recent mortgage transactions to the FHFA. These data are combined with the data of the previous 29 years to establish price differentials on properties where more than one mortgage transaction has occurred. These resultant neighborhood appreciation rates are a broad measure of the movement of single-family house prices. The appreciation rates serve as an accurate indicator of house price trends at the neighborhood level.
Wichita Housing Market
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.
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.
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The typical 2,120-square-foot house had a list price of $135 per square foot. NeighborhoodScout reveals the home appreciation rates for every city, town, and even most neighborhoods in America. Home prices — Extremely tight inventories have caused Lawrence home values to rise at a historically fast pace. Lawrence home values should end the year up 12.3% before slowing to a more normal appreciation rate of 4.8% in 2023. Home sales — Tight inventories and rising mortgage rates should cause Wichita-area home sales activity to fall by 4.9% this year to 11,560 units.
The forecast then expects sales to rebound slightly next year, up 0.7% for 2023. Explore how many homes are likely to flood in nearby cities, compared to . Flood risk in Wichita Falls is increasing slower than the national average.
Topeka Forecast
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 ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas. Real estate appreciation rates in Wichita's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 4.90% during the period. Single-family detached homes are the single most common housing type in Wichita, accounting for 67.20% of the city's housing units.
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.
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%.
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