In August, home prices fell substantially from the month before, with a median listing price of $285,000.
The number of listings on the market grew 6.4% from last month, which is a bigger increase than normal for this time of the year in Wichita, and homes are also selling slower than at the same time last year.
Home prices in Wichita
Typically, home price per square foot in Wichita tend to fall in August. And the most recent data shows that the price per square foot decreased by 0.9% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the Air Capital of the World are smaller the national market.
Wichita inventory
In August, there were 1,031 homes for sale in Wichita, which was 6.4% more than the month before and 34.1% more than the same time last year…