New apartment projects and rebounding area home sales were the highlights of the residential real estate sector in 2012, while industrial parks and spec buildings dominated the commercial real estate sector. Through November, new and existing home sales were up 9 percent from the same period a year ago, according to the South Central Kansas Multiple Listing Service. Residential rentals were on the upswing, leading the area’s biggest real estate sales company, J.P. Weigand & Sons, to create a property management division to capture the upturn in rental homes.
Meanwhile, work continued on projects such as the Lux in downtown Wichita, converting the former KG&E headquarters at First and Market into apartments.
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