Money Magazine just reported 1st quarter information on Median home prices and projections from May, 2008 to May, 2009.  Wichita ranked #10 with a projected increase in value of 1.5%.  The highest ranked city was Rochester, NY at 2.7% of value.  Only 24 of the top 100 cites in the US are projected to show any increase in value of homes in the next year.
 
Wichita also showed only a 9% increase in foreclosures from last year.  Wichita ranked ahead of 90% of the top 100 markets in lowest increase in foreclosures.
 
NAR released their report on values for the 1st quarter of 2008 today.  Wichita ranked #2 in increase in value from the 1st quarter, 2007 to the 1st quarter, 2008 at 11.7%.  NAR reported the Median priced home in the Wichita metro area was $106,600.  Money’s value was $114,000. 
 
The local MLS showed an increase in property values in the last year of 5.7% for the same time period and a median value of just under $114,000.  Average value of new homes was approximately $224,000.  Different numbers but all were better than most of the country and all were in positive territory.