Topeka Real Estate Market Update: January 2025
The Topeka real estate market has seen some significant shifts over the past year, with notable changes in inventory, pricing, and sales activity across different school districts. Here’s an in-depth look at the latest market trends based on data comparing January 2024 to January 2025.
Shawnee County Overview
- Active Listings: Down 39.47% from 159 to 114
- Average List Price: Up 11.43% to $236,297
- Sold Homes: Up 17.98% to 178
- Average Sold Price: Down 1.97% to $200,146
While the number of active listings has significantly declined, the demand remains strong, with more homes being sold at slightly lower prices compared to the previous year.
Shawnee Heights
- Active Listings: Down 144.44% to 9
- Average List Price: Up 16.61% to $305,311
- Sold Homes: Up 21.43% to 14
- Average Sold Price: Slight decrease of 0.63% to $289,846
A sharp drop in available homes in Shawnee Heights suggests increased competition among buyers, contributing to a rise in listing prices despite a minor dip in closing prices.
Seaman Schools
- Active Listings: Down 175.00% to 8
- Average List Price: Down 20.40% to $256,695
- Sold Homes: Up 14.29% to 14
- Average Sold Price: Up 14.97% to $311,585
Seaman Schools saw a drastic drop in listings and a decrease in average listing price, yet the average sale price increased, reflecting a highly competitive market where homes are selling for more than initially expected.
Washburn Rural
- Active Listings: Up 32.14% to 28
- Average List Price: Up 9.82% to $360,728
- Sold Homes: Up 5.88% to 34
- Average Sold Price: Up 13.07% to $337,108
Washburn Rural was one of the few areas with an increase in available homes, along with a notable rise in listing and selling prices, indicating a strong demand for homes in this district.
Highland Park
- Active Listings: Down 88.89% to 9
- Average List Price: Up 25.58% to $113,988
- Sold Homes: Up 55.56% to 45
- Average Sold Price: Down 50.64% to $48,644
Despite a drastic decline in available homes, Highland Park saw a significant increase in sales. However, the steep drop in average sold price suggests buyers may be targeting lower-end or distressed properties.
Topeka High
- Active Listings: Down 29.63% to 27
- Average List Price: Down 4.51% to $146,460
- Sold Homes: Up 24.32% to 37
- Average Sold Price: Down 6.47% to $123,137
Topeka High’s market saw a mix of lower inventory and pricing decreases, but higher sales volumes, reflecting steady demand despite affordability challenges.
Topeka West
- Active Listings: Down 40.00% to 30
- Average List Price: Up 9.02% to $200,704
- Sold Homes: Down 40.74% to 27
- Average Sold Price: Down 12.46% to $157,701
While prices have increased for listed homes, the number of sold homes has dropped significantly, indicating potential buyer hesitancy in this area.
Market Summary
Overall, Topeka’s real estate market continues to be highly dynamic, with rising listing prices but mixed trends in sale prices. Inventory shortages in most areas are contributing to heightened competition among buyers, particularly in sought-after districts like Washburn Rural and Seaman Schools. Meanwhile, affordability remains a concern in areas like Highland Park and Topeka West, where home prices have seen significant fluctuations.
For buyers, navigating the market will require strategic decision-making, while sellers in high-demand areas may continue to see favorable conditions. The coming months will be crucial in determining whether these trends persist or if new opportunities emerge in the Topeka housing market.
In a market as unpredictable as Topeka’s, having an experienced real estate team on your side is crucial. The Boling Group with KW One Legacy Partners, LLC. specializes in helping buyers and sellers navigate market fluctuations, ensuring you make informed decisions. Whether you’re looking to capitalize on a competitive sellers’ market or secure a great deal as a buyer, their expertise in local trends, negotiation strategies, and personalized service can make all the difference. Trust The Boling Group to guide you through these complex times with confidence and success.
If you are interested in purchasing real estate, please feel free to search all properties here: https://bolinggroup.kw.com/
*All numbers were provided through the Sunflower Association of REALTORS® in Topeka
