Shawnee County housing market becoming more competitive as home inventory drops

Local News

TOPEKA (KSNT) – The Sunflower Association of Realtors is seeing a huge drop in available homes in Shawnee County. According to the March 2021 Housing Report, there were 92 active listings in the county. That’s a drop of 62 percent compared to the year before.

CEO Linda Briden said they currently have only a two-week supply of homes for sale. She said the lack of inventory is causing the market to move quickly.

“There will be very little time for a buyer to make a decision on a property that they really like,” Briden said. “It could go on the MLS in the morning and it could be under contract by afternoon. That’s how tight it is.”

Briden said homes in Shawnee County are currently selling for 100 percent of the listing price. According to the report, the listing price of homes has gone up 21.5 percent over the past year.

2020 was a difficult year for most industries due to the COVID-19 pandemic. However, Briden said the housing shortage wasn’t caused by the pandemic. She said it’s part of a trend they’ve seen across the country over the past several years.

Briden said it’s unclear when the shortage will end. Construction costs are currently high, which means new construction is not happening quickly enough to meet demand. She said it could be two to five years before the inventory recovers.

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