HANDS ON THE HEARTLAND: Checking The Pulse Of The Kansas City Real Estate Market

City of Olathe KS Real Estate Update

Olathe Kansas Real Estate Market Stats <> 15-day Glance

* Average Newest Under Contract considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew a particular category. DOM is Days On Market. Note the date of this post as market stats become outdated. Stats may not be an exact 15 days and stats were pulled in the AM on 6/12/09.

In the city of Olathe Kansas there continues to be more homes coming on the market than homes going under contract (i.e. pending) or than homes being sold (closed). This creates a further surplus of supply in Olathe KS. Using the past 15 days as a basis for figuring the absorption rate in Olathe, there’s nearly 5.5 months of inventory on the market. If we instead use the 112 homes that went under contract as the basis for figuring the absorption rate, we see an improved 4.3 months of inventory on the market – of course it’s unknown whether all of those 112 homes will make it to the closing table.   

Keep in mind that a 15-day period is a small sampling of Olathe Kansas market activity designed to look at the what’s going on now in the current real estate market. While a 15-day period could indicate a trend it does not necessarily show a real estate markets long-term trend.

Posted by Jason A. Brown

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