TOPEKA & SHAWNEE COUNTY REAL ESTATE MARKET REPORT

An In-Depth Look at Our Local Real Estate Market for Residents
Year to Date through August 28, 2025

WHY THIS REPORT MATTERS

The real estate market in Topeka and across Shawnee County has been active, but many local residents still have questions: Are homes still selling quickly? Is now a good time to sell? What should I expect if I buy my next home here? This report provides an in-depth, local perspective on real housing activity—not national trends or generic advice.

Whether you're thinking of selling your home, moving to a new one within the county, or simply staying informed, understanding the market dynamics can help you make better decisions. This report pulls directly from sales and listing data over the last 12 months to paint a realistic picture of where things stand today.

MARKET PERFORMANCE OVERVIEW

Average Sale Price: $197,578
Average List Price: $197,984
List-to-Sale Price Ratio: 99.8%
Total Homes Sold (12 months): 2,537
Active Listings (current): 263
Average Price per Square Foot: $122
Average Days on Market: 17

These numbers tell a story: Homes in Shawnee County are generally selling close to asking price, within a couple of weeks, and demand continues to outpace supply. This dynamic creates opportunities and challenges for both sellers and buyers—depending on how prepared they are.

FOR HOMEOWNERS THINKING ABOUT SELLING

If you own a home in Shawnee County, the current market favors you—but only if you approach the sale strategically. The average home sells in 17 days, but that number depends on condition, price, and location.

Homes that are well-priced, clean, and move-in ready are most likely to sell quickly and receive offers close to their asking price. In contrast, homes that need significant updates or are priced above local comparables may linger and require price reductions. The 99.8% list-to-sale price ratio reflects that most sellers are aligning with market reality—but that .2% gap still represents missed potential for some.

One important note: the perception that buyers are throwing money at homes is overstated. Buyers are still price-conscious and expect value in return. Sellers benefit from preparing their homes—whether through light cosmetic updates or simply deep cleaning and decluttering.

FOR RESIDENTS PLANNING TO BUY LOCALLY

For those planning to move within Topeka or Shawnee County, competition remains a factor. With only 263 active listings across the county, the market is tight. This can create some urgency for buyers—but not panic.

Buyers should expect to pay close to list price for desirable homes, particularly in neighborhoods with good schools, updated homes, or limited inventory. If you're relying on financing, it's wise to have pre-approval in hand and work closely with a trusted lender. Speed and preparation matter more than offering far above asking price.

Homes are averaging 17 days on the market, but many receive offers in just a few days—especially under $250,000. That means buying and selling at the same time requires careful coordination, especially if you're trying to avoid temporary housing.

Buyers should also pay attention to how mortgage rates affect monthly affordability. Even small rate increases can shift your price range significantly. That’s something to plan for—not fear—as long as you understand your budget and have flexibility.

INVENTORY TRENDS AND WHAT THEY MEAN

Housing inventory is one of the clearest signals of market balance—or imbalance. In a balanced market, there are roughly 5 to 6 months of inventory. Right now, Shawnee County is far below that benchmark. With only 263 active listings and over 2,500 homes sold in the past year, we’re looking at barely a month's worth of inventory.

This low supply creates a competitive environment. Buyers have fewer choices, and sellers with desirable properties often receive multiple showings within the first week.

This trend isn’t new, but it’s become more pronounced over the past several years. Unless a large number of new homes are built—or homeowners decide to list in higher numbers—inventory will likely remain tight.

What does this mean for residents?

• Sellers: You’re in a strong position, but don’t assume that every home sells itself. Homes still need to be market-ready.
  
  
• Buyers: Be realistic. You might not find the “perfect” home, but a well-maintained property in your price range still offers value long-term.
  
  

PRICE TRENDS OVER TIME

The average sale price in Shawnee County is now $197,578, which represents a steady increase over the past few years. This is still well below the national average, making Topeka one of the most affordable capital cities in the U.S.

While prices are up, the rate of appreciation has moderated compared to the frenzy of 2021–2022. This is a sign of a more stable market—not a declining one. Homes are still selling, but buyers are asking more questions, comparing more options, and responding to price and condition.

For long-term homeowners, this is good news. Your home has likely appreciated in value, giving you more equity to work with—whether you’re cashing out or upgrading.

HOW LONG IT TAKES TO SELL A HOME (DOM ANALYSIS)

Days on Market (DOM) is a valuable metric for sellers and buyers alike. The average DOM in Shawnee County is 17 days, which is very low by historical standards. However, this number doesn’t apply equally across the board.

• Move-in-ready homes: Often sell in less than a week.
  
  
• Fixer-uppers or dated properties: May sit for 30+ days, sometimes requiring price adjustments.
  
  
• Luxury or niche properties: Often take longer due to a smaller buyer pool.
  
  

This means sellers should aim to make a strong impression immediately. Most buyers are seeing your home for the first time online—photos, descriptions, and condition all factor into whether they schedule a showing.

For buyers, speed matters, but rushing into a decision can backfire. Set alerts, schedule showings promptly, and know what you’re willing to compromise on before the right home hits the market.

LIST-TO-SALE PRICE RATIOS EXPLAINED

The list-to-sale price ratio in Shawnee County is 99.8%. In practical terms, that means sellers are generally receiving very close to their asking price.

Here’s how to interpret that:

• It confirms that homes are being priced accurately, likely with the help of market-savvy agents.
  
  
• It shows that buyers aren’t grossly overpaying—most homes are not selling for 5–10% over list like we saw during peak COVID years.
  
  
• It reinforces the need for realistic pricing. Homes priced too high tend to require reductions and sell for less than expected.
  
  

For both parties, this is a sign of a healthy, competitive market—not an overheated one.

SHAWNEE COUNTY VS. BROADER TRENDS

When compared to national averages, Shawnee County remains significantly more affordable. In many U.S. markets, the average home price exceeds $400,000. In contrast, Topeka offers the following advantages:

• Lower entry price for first-time buyers
  
  
• Less volatility in pricing
  
  
• Stable appreciation without bubbles
  
  

That said, Shawnee County follows many of the same patterns seen nationally: low inventory, high demand, and limited new construction. Residents here benefit from lower price points, but still face the same challenge of competing for limited homes.

CONSIDERATIONS FOR THE FALL AND WINTER MARKETS

Seasonality plays a role in real estate. While spring is typically the most active season, fall and early winter often bring a smaller—but more serious—group of buyers. If you're planning to list in the coming months, here’s what to expect:

• Fewer showings, but higher-quality prospects
  
  
• Less competition from other listings
  
  
• Potential for motivated buyers hoping to close before year-end
  
  

Buyers, on the other hand, may benefit from slightly less competition, especially if homes have been on the market longer. Sellers might be more open to negotiation later in the year—especially if they're under pressure to move.

WORKING WITH PROFESSIONALS (NOT A PITCH)

Real estate is hyper-local, and even experienced homeowners can benefit from current data, up-to-date pricing models, and guidance tailored to their specific neighborhood and situation.

Whether you’re working with an agent, lender, inspector, or appraiser, the goal should be the same: transparency, accuracy, and planning ahead. The best real estate decisions aren’t rushed—they’re informed.

FINAL TAKEAWAYS: WHAT TO WATCH FOR

• Prices remain strong, but gains have leveled out. Sellers should not expect bidding wars unless their home is in exceptional condition and priced perfectly.
  
  
• Homes are still selling quickly, especially in price points under $250,000. Buyers need to be decisive and prepared.
  
  
• Inventory remains tight, making every listing valuable. Whether you're selling or buying, timing and preparation are everything.
  
  
• Affordability is still a strength in Topeka, but it’s narrowing. Don’t wait for the “perfect” time—look at your personal timing and goals.
  
  

If you’re staying in the area, keep an eye on neighborhood trends, interest rate shifts, and seasonal patterns. The more informed you are, the better equipped you’ll be to make your next move confidently.