2009 Real Estate Guide
real estate
Home price trends in Wichita, Kan.

City-by-city price comps
Wichita, Kan.
Of the 40 markets we studied, this Midwestern city is one of the only ones with a somewhat stable market. It has experienced a slowdown in sales -- a result of tougher mortgage guidelines and worry about the national economy -- and slight drops in home prices this year. The Fiserv/Moody’s economics.com study predicts the Wichita market will bottom out this year. Home prices are below equilibrium, according to Local Market Monitor.
Median price end of 2008:$118,200
Median price end of 2007:$113,800
Percent change:3.9%
Projected change through Q3 2009:-1.1%
Affordability rating:1.9
Foreclosures in 2008:
(1 for every 150 households)
Foreclosures in 2007:
(1 for every 381 households)
Change in foreclosures:156.5%
Expected to hit bottom:Q4 2009
Percent drop needed to reach bottom:-2.5%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $112,700
Q2 2008 local median price: $125,800
Q3 2008 local median price: $125,300
Q4 2008 local median price: $118,200

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