Sherwood Park Real Estate Market Report | Recent Market Performance & Year-Over-Year Trends

Sherwood Park at a Glance

Frequently Asked Questions About Sherwood Park Real Estate

How much do homes cost in Sherwood Park?

The median sold price in Sherwood Park over the past 24 months was $388,099, with an average of $407,357. The gap between those two numbers is worth understanding: a handful of higher-priced sales are pulling the average up, so the median is the more reliable number for what most buyers are actually paying.

The full price range ran from $289,000 on the low end to $570,000 on the high end, reflecting the variety of home sizes, styles, and conditions across the neighborhood. Ranch homes, which make up roughly 77% of all sales here, tend to cluster near that median range.

How long does it take to sell a home in Sherwood Park?

The median days on market was 13 days, meaning a well-priced home in Sherwood Park typically finds a buyer within about two weeks. The average was 26.7 days, but that number is elevated by a few properties that took considerably longer — most notably two homes that sat 139 and 189 days before finally going under contract.

The pattern is consistent: homes that launched at a realistic price sold quickly. The ones that started too high needed price cuts and dragged on for months. If you're selling, getting the price right from day one is the single biggest lever you have.

Is Sherwood Park a seller's market or a buyer's market?

Sherwood Park is operating in roughly balanced territory, leaning slightly toward sellers on well-priced homes. The 99.02% average list-to-sale ratio tells you buyers aren't getting meaningful discounts off asking price — but there's also no evidence of widespread over-asking sales that would signal a true seller's market. The one exception was a split-level that sold at 101.55% of asking, but that's an outlier.

The nearly 30% price reduction rate is the nuance worth knowing: overpriced listings do sit, and eventually have to come down. Buyers who are patient and watching the market can find opportunities when that happens.

How have Sherwood Park home prices changed over the past year?

Prices in Sherwood Park held remarkably steady in the most recent 12-month period. The median price was essentially flat, slipping from $388,750 to $388,099 — a change of just -$651, or -0.17%. The average dropped a bit more, from $411,932 to $403,959, a decline of $7,972 or -1.94%.

What makes that stability more impressive is what happened to sales volume at the same time: transactions jumped 34.6%, from 26 closed sales (April 2024–April 2025) to 35 (April 2025–April 2026). More buyers chose Sherwood Park while prices barely moved. That combination points to healthy, organic demand rather than a market running on speculation.

What types of homes sell in Sherwood Park?

Ranch-style homes dominate this neighborhood, making up 47 of the 61 sales analyzed — about 77% of all transactions. After that, 2-story homes represented about 13% of sales (8 homes), followed by 1.5-story homes at roughly 8% (5 homes), and one split-level sale. If you're a ranch buyer, you're in the right place. Other styles do come up, but inventory is limited.

Do homes in Sherwood Park sell for asking price?

Very close. The average list-to-sale ratio was 99.02%, and the median was 99.82%. In practical terms, the typical home in Sherwood Park sold for just under one percent below its asking price. One split-level sold over asking at 101.55%, but that's the exception. For buyers, aggressive lowball offers aren't the norm here. For sellers, you'll likely get close to what you're asking — as long as that ask is grounded in current market reality.

What is the price per square foot in Sherwood Park?

Across all 61 sales, the average price per square foot was $155.78 and the median was $149.25, calculated on total finished square footage including both above and below grade. Ranch homes commanded the highest price per square foot at an average of $163.61, while 2-story homes came in at $138.97 per square foot — about 15% lower, making them a better value play on a per-square-foot basis for buyers who don't mind stairs.

Are sellers offering closing cost assistance in Sherwood Park?

Some are. About 24.6% of sellers — roughly 1 in 4 — offered a concession during the analysis period. Among those who did, the average amount was $4,492. That said, three out of four sellers walked away without offering anything beyond the home itself. Requesting a modest concession as part of a fair offer is a reasonable ask in this market, but pairing a low price with a large concession request is likely to push a motivated seller toward a cleaner offer instead.

How does Sherwood Park compare to other Topeka neighborhoods?

With a median sold price of $388,099, Sherwood Park sits firmly in the upper-mid range of the Topeka residential market. It's priced noticeably above many of the city's established westside neighborhoods, reflecting the area's lot sizes, home quality, and desirable southwest location. The neighborhood has held its value well — prices were essentially flat year-over-year even as more homes sold, which is a solid sign of sustained buyer interest.

What's the best time to sell a home in Sherwood Park?

The data doesn't point to a strong seasonal pattern, but the Topeka market generally picks up from spring through early fall as buyers become more active. That said, the more important variable is pricing. Homes that were priced accurately for the current market sold in a median of 13 days regardless of the calendar. Pricing strategy matters far more than timing.

Should I get pre-approved before looking at homes in Sherwood Park?

Yes, and sooner than you might think. At a median price of nearly $390,000, most purchases here require solid conventional financing, and sellers are used to receiving offers from prepared buyers. With a median days on market of just 13 days, a well-priced home in Sherwood Park won't wait around while you sort out your financing. Get pre-approved before you start shopping so you can move when the right home appears.

Market Overview

Sherwood Park put up a consistent, demand-driven performance over the past two years, with 61 closed sales ranging from $289,000 to $570,000. The neighborhood occupies a well-defined niche in the Topeka market: quality ranch-heavy housing along the southwest corridor, priced for move-up buyers who want established surroundings, real square footage, and good access to the west side of the city.

The headline numbers tell a story of a market that's active and competitive without running hot. A median sold price of $388,099 and an average of $407,357 confirm this is comfortably in the upper tier of local residential pricing. Homes sold at an average of 99.02% of asking price, which means buyers aren't getting meaningful discounts — but sellers aren't commanding premiums either. It's a fair market with reasonable expectations on both sides.

The speed of the market is notable. A median of 13 days on market means a well-priced home finds a buyer in roughly two weeks. The average of 26.7 days is pulled up by a few outlier properties that sat much longer, but those cases are the exception rather than the rule.

The standout trend in the data is the growth in sales activity. The most recent 12 months (April 2025–April 2026) saw 35 closed sales, up from 26 in the prior period (April 2024–April 2025) — a 34.6% increase in volume. That happened while prices stayed essentially flat, with the median moving less than 0.2%. More buyers, stable prices: that's the kind of data that signals a market finding a healthy equilibrium, not one under stress.

Deeper Dive: What the Numbers Actually Mean

Days on Market: The Two-Speed Market

The median and average days on market tell very different stories here, and understanding why matters. The median of 13 days is the number that reflects the typical seller's experience. Half of homes sold within about two weeks; half took longer.

The average of 26.7 days is significantly elevated by two outlier properties that sat 139 and 189 days respectively before selling. Those are genuine outlier situations — likely a combination of initial overpricing and possibly condition challenges that took time to work through. Remove those two from the picture and the average drops considerably, reinforcing that Sherwood Park is genuinely a fast-moving market for correctly priced homes.

For sellers, the takeaway is clear: price it right from the start. For buyers, the corollary applies equally: when you find a home you want in this neighborhood, being ready to move quickly is a real advantage.

Pricing Accuracy and Reductions

About 29.5% of listings — just under one in three — required a price reduction before going under contract. The average reduction was $19,706, representing roughly a 4.7% trim from the original asking price. That's a meaningful amount of value left on the table by sellers who came to market with aspirational pricing the buyer pool didn't support.

The list-to-sale ratio reflects the final negotiated price against the adjusted asking price, not the original. So the full picture for an overpriced listing looks like this: list too high, wait, reduce by nearly 5%, then sell for about 99% of the reduced ask — and spend weeks longer on market in the process. Sellers who priced accurately from day one avoided all of that.

Year-Over-Year Snapshot

Comparing the two 12-month periods within the analysis window reveals a market gaining momentum without losing discipline on price.

From April 2024 through April 2025, there were 26 closed sales with a median price of $388,750 and an average of $411,932. From April 2025 through April 2026, sales climbed to 35 closed transactions while the median held nearly flat at $388,099 — a change of just -$651, or -0.17%. The average eased to $403,959, down $7,972 or -1.94%.

The price stability alongside a 34.6% surge in sales volume is the headline. More buyers chose Sherwood Park in the April 2025–April 2026 period without needing prices to pull back significantly to attract them. That's the kind of dynamic that supports long-term value.

Seller Concessions

Just under 25% of sellers offered a buyer concession, with an average amount of $4,492 among those who did. That means about three out of four sellers closed without offering any financial assistance to the buyer. Concessions tend to show up when a home has been sitting a while, when the buyer is rate-sensitive and needs closing cost help, or when a seller is particularly motivated to close. For buyers who need that kind of help, it's a legitimate ask — just not one every seller will entertain.

How Different Home Styles Stack Up

Note: The Split and 1.5 Story categories represent small sample sizes (1 and 5 sales respectively). Those figures are directionally useful but shouldn't be treated as definitive benchmarks.

Ranch Homes: The Neighborhood Standard

Ranch-style homes are the backbone of Sherwood Park, accounting for 47 of 61 sales — 77% of all transactions. They command a median price of $393,000 and an average of $417,723, making them roughly 16% more expensive than 2-story homes on average and leading the neighborhood in price per square foot at $163.61. That premium reflects how much buyers in this part of Topeka value single-level living.

The average days on market for ranches was 28.5 days, but as noted earlier, two significant outliers are pulling that figure up. Well-priced ranches in Sherwood Park move faster than that average suggests.

2-Story Homes: The Value Angle

Two-story homes sold at a median of $356,250 — approximately $36,750 less than the neighborhood median overall and roughly $36,750 below the median ranch home. On a per-square-foot basis, they come in at $138.97, about 15% lower than ranches. For buyers who need total square footage and are flexible on style, 2-story homes represent a genuine value opportunity in Sherwood Park. The tradeoff is slightly more time on market (30.6 days average) and a touch more room to negotiate (98.43% list-to-sale vs. 98.98% for ranches).

1.5 Story Homes: Fast When They Appear

With only 5 sales, the 1.5-story sample is small, but the speed stands out: an average of just 8 days on market and a list-to-sale ratio of 99.76%. When these homes came up in Sherwood Park over the past two years, buyers moved on them quickly. The sample size is too small to draw firm conclusions, but if you're targeting this style, be ready to act fast when one hits the market.

What This Means for You

If You're Selling

Price it accurately from the start. The data on this point is unambiguous. Homes priced correctly for the current market sold in a median of 13 days at or near full asking price. The ones that launched too high averaged price cuts of nearly $20,000 and spent weeks longer on market. That's a costly mistake in both time and money.

Presentation matters at this price point. Buyers spending $380,000 to $420,000 or more in Sherwood Park have expectations. Fresh paint, clean landscaping, updated fixtures, and functioning mechanicals aren't extras — they're baseline. A pre-listing inspection can surface issues before they become renegotiation leverage for the buyer.

On concessions: About a quarter of sellers offered concessions averaging around $4,500. If your home is priced right and shows well, you may not need to offer anything. If you want to expand your buyer pool or help close a deal with someone navigating today's interest rates, a modest concession can be the right call — but don't lead with it before you need to.

Volume is growing. The jump to 35 sales in the April 2025–April 2026 period is a tailwind. More buyers were active in Sherwood Park last year than the year before. If your home is priced right and shows well, the audience is there.

If You're Buying

Be ready to move fast on homes you want. Thirteen days is the median. If you find the right home and you're not pre-approved and ready to write an offer quickly, you'll likely lose it to someone who is. Do the preparation work before you start shopping.

The list-to-sale ratio is nearly 99% on average. That leaves very little room for aggressive lowball offers on fresh listings. Save your negotiating energy for homes that have been sitting a while or have already taken a price cut — those sellers have demonstrated more flexibility.

2-story homes offer real value. If you don't have a strong preference for single-level living, the price difference between ranch and 2-story homes in Sherwood Park is meaningful — both in total price and in price per square foot. Worth considering if square footage matters more than style.

Concessions are reasonable to request. About 1 in 4 sellers has been willing to offer closing cost help. It's not guaranteed, but it's not an unreasonable ask — especially if you're financing at current rates and a few thousand dollars at closing makes a real difference to your budget.

Looking Ahead

The fundamentals in Sherwood Park are in good shape. A 34.6% jump in sales volume alongside nearly flat prices is the kind of data that signals genuine, sustained buyer interest rather than a market running on momentum. More people chose this neighborhood over the past year than the year before, without needing prices to pull back significantly to attract them. That's healthy.

Ranch-heavy neighborhoods with established lot sizes and good southwest Topeka access tend to hold their value well over time. Sherwood Park isn't chasing speculative gains — it's doing the slower, more durable thing of being consistently desirable. That's a solid foundation for homeowners and buyers alike.

Structured Data Summary