Topeka Real Estate: A Year in Review – 2024 Highlights
What a year 2024 has been for Topeka real estate! Despite the twists and turns in the world around us, the local market has stayed dynamic and strong. Elections, economic shifts, and changes in interest rates can make the real estate landscape feel like a roller coaster, but Topeka homeowners and buyers have continued to see some exciting growth!
In this blog, I’m breaking down the key numbers for Topeka and the surrounding areas so you can get a clear picture of how the market has performed—and what it could mean for you. We’ll dive into 2024’s market trends across the Topeka MLS, Shawnee County, and break things down even further by school district. Let’s get started!
2024 Market Snapshot: Topeka MLS
Let’s begin with the broader Topeka MLS, which covers a large part of the Topeka metro area and stretches into Northeast Kansas. In 2024, we saw a 2.7% increase in homes sold compared to 2023. A total of 3,523 properties changed hands, leading to a 9.7% increase in sales volume—that’s $809,685,000 in total sales for the year! Not only were more homes sold, but the average price of homes rose by 6.8%, landing at $229,828. That’s an impressive 13.1% increase in home values since 2022!
While the average consumer could still negotiate a 1.5% discount off the list price (slightly down from 2023’s 1.9%), Topeka’s real estate market has clearly been on an upward trajectory.
Shawnee County: Strong Growth Across the Board
In Shawnee County, the numbers are even more exciting! We saw a 3.3% increase in homes sold in 2024, with 2,287 properties sold, compared to 2,214 in 2023. The total sales volume reached $519,468,000, marking an 11.2% increase from 2023. Even better, home prices increased by 8.2%, from $209,838 in 2023 to $227,139 in 2024.
So, if you own a home in Shawnee County, your property has gained an average of $8,200 in equity per $100,000 in value over the past year. Not too shabby, right?
Breaking It Down by School District: More Good News
Here’s a look at how different school districts in Topeka performed. Whether you’re in the Washburn Rural area or down by Topeka High, there’s growth happening everywhere!
Washburn Rural High School District
2024 was a great year for Washburn Rural homeowners, with a 10.1% increase in homes sold—a total of 510 properties compared to 461 in 2023. This resulted in a 14.5% increase in sales volume, totaling $168,018,825. Home prices also rose by 6.8%, with the average sales price going from $308,284 in 2023 to $329,448 in 2024.
That’s $6,800 in equity growth per $100,000 for Washburn Rural homeowners in just one year!
Shawnee Heights High School District
In Shawnee Heights, the market remained solid with a 3.9% increase in homes sold (242 homes in 2024 vs. 233 in 2023). Sales volume grew by 9.2%, totaling $70,502,231. Home prices increased by 5.1%, going from $277,079 to $291,331.
Homeowners here saw $5,100 in equity growth per $100,000—a solid return on investment!
Seaman High School District
Seaman saw a slight dip in sales with a 5.5% decrease in homes sold, but prices still rose. 217 homes were sold in 2024, down from 229 in 2023, but total sales volume increased by 0.7%, reaching $66,096,327. The average home price increased by 6.3%, from $286,591 in 2023 to $304,591 in 2024.
That translates into $6,300 in equity growth per $100,000 for Seaman homeowners.
Highland Park High School District
Homeowners in the Highland Park area saw a slight decrease in sales (a 2.5% drop in homes sold), but the good news is home values went up! The total sales volume grew by 7.4% to $27,544,044, and the average home price surged by 10.1%, from $90,286 to $99,436.
This equates to $10,100 in equity growth per $100,000 for Highland Park homeowners!
Topeka High School District
Topeka High saw one of the most exciting growths in both volume and value in 2024. Homes sold increased by 6.1%, with 502 properties sold compared to 473 in 2023. Total sales volume skyrocketed by 19.5%, reaching $72,410,811. The average sales price jumped by an impressive 12.6%, from $128,134 in 2023 to $144,244 in 2024.
That’s $12,600 in equity growth per $100,000 for Topeka High area homeowners—talk about a big win!
Topeka West High School District
Topeka West’s market was also strong, with just a slight decrease in homes sold (a 0.05% dip from 540 to 537 properties). But prices surged by 12.6%, from $173,571 to $195,485. The total sales volume jumped by 12%, reaching $104,975,556.
Topeka West homeowners saw $12,600 in equity growth per $100,000—mirroring the strong performance of Topeka High!
2024: A Year of Growth for Topeka Homeowners
Overall, 2024 was an incredible year for homeownership and equity growth in Topeka! From Shawnee County to the various school districts, the market has been showing healthy growth in both sales volume and property values. Whether you’re looking to buy or sell, it’s clear that Topeka real estate is thriving.
If you’re thinking about buying, selling, or just curious about what your property is worth, I’d love to help! As a licensed real estate broker with KW One Legacy Partners, I’m here to assist you every step of the way.
Cheers to more successful real estate transactions in 2025!
— Cole Boling
Licensed Real Estate Broker | KW One Legacy Partners LLC
All statistics provided by the Topeka Sunflower Area Association MLS
