Fabrique is currently tilted toward sellers, with the market gauge indicating a seller’s market. Months of supply is very low at 0.9, signaling limited inventory relative to demand. Homes also tend to move quickly, with a median of just 7 days on the market in this rolling three-month period.
This faster pace is a sharp change from a year ago, when typical days on market were about three times longer. Even with that speed, typical home values are slightly lower than a year earlier, down a bit over 2 percent, while median list prices are up nearly 10 percent year over year, suggesting sellers are testing higher asking prices. Buyer interest appears steady to strong, with pending sales up more than 16 percent from last year’s rolling three-month window.
Inventory trends help explain the pressure on buyers. Active listings in Fabrique are down more than 8 percent from a year ago, while new listings have inched higher and months of supply has dropped sharply compared with both last year and the broader Wichita market, which sits at 2.1 months of supply. A growing share of homes sells above list price, now over one-third of recent sales, and more than half go off the market within two weeks. In this kind of environment, both buyers and sellers can benefit from Agent Pronto’s help in finding an agent who understands Fabrique’s fast-moving dynamics.
