TOPEKA (KSNT) – While some first-time home buyers may be disappointed with the rising cost of homes in Topeka, a local realtor says things may be about to shift.
Topeka has received recognition in the past for having one of the most promising real estate markets in the nation, often offering homes for sale at a substantially reduced cost compared to the national average. However, some real estate websites like Zillow have reported that housing costs have been increasing, with homes costing double what they used to a decade ago.
27 News got in touch with Del-Metrius Herron, a local real estate agent, to learn more about the Topeka housing market in 2025. She said the average sales price as of August this year for Topeka is a little more than $244,000, according to data from the Sunflower Association of Realtors.
Why is more ‘night work’ being logged on the Polk-Quincy Viaduct project?
“Rising home prices, both locally and nationally, are primarily due to a lack of inventory,” Herron said. “This shortage dates back to the housing market crash of 2007–2008, post-crash builders stopped building homes or built at a much slower pace. Over time, this became a compounding issue that gained momentum in 2020 during COVID.”
- Average sale price for homes in the Topeka metropolitan area, per Sunflower Association of Realtors data.
- August 2025 – $244,318.
- August 2024 – $229,684.
- August 2023 – $236,890.
Herron said mortgage rates hit all-time lows in 2020, later creating extremes in supply and demand. Home appreciation then skyrocketed and continued to rise each year until 2022.
“As a result of increased rates, the pace of appreciation slowed due to reduction of buyers in the market,” Herron said. “Now, home prices are still climbing but not [at] the same rate they were prior to 2022.”
Blind Tiger to host Oktoberfest celebration with German beer, food
First-time homebuyers are also working against other factors as Topeka is currently in a “seller’s market” as opposed to a “buyer’s market.” Herron said a seller’s market is defined as there being less than four months of inventory available: Topeka has around six weeks of inventory as of August 2025. Despite this, she said that interest rates are working in favor of buyers.
“Rising rates and home appreciation have created an environment where buyers have some leverage in the negotiation process,” Herron said. “Increased costs are causing buyers to request more within transactions, and sellers are becoming more flexible due to an increase in days on market.”
While the cost of buying a home may break the budget for some people, Herron said that Topeka remains an ideal place for those who are looking to buy their first house. The national average price point of $415,000-$500,000 is still much higher than what can be found in the Capital City.
West Ridge Mall store to relocate after eight years
“It is still a great time to become a homeowner,” Herron said. “Rates will always fluctuate — that is the nature of the economy. It’s important to work with an agent who is knowledgeable not only about the Topeka market but also about emerging trends such as mortgage rates, property taxes, and insurance cost.”
Herron recommends getting preapproved before looking at properties as this can help homebuyers move faster once they locate a suitable house. She also said now is the best time to get preapproved so buyers are prepared once more down payment assistance becomes available in the spring.
“And remember — your first home doesn’t have to be your forever home,” Herron said. “It’s a stepping stone into homeownership that can be leveraged to help you find your forever home in the future.”
Trade valuables for cash at this Topeka jewelry store
For more local news, click here. Keep up with the latest breaking news in northeast Kansas by downloading our mobile app and by signing up for our news email alerts. Sign up for our Storm Track Weather app by clicking here.
Follow Matthew Self on X (Twitter): https://twitter.com/MatthewLeoSelf
