Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Overland Park Kansas
Recent 15 Days of Overland Park KS Market Activity
Using the past 15 days of market stats in the chart below to figure the absorption rate in Overland Park Kansas, there’s 13 months of inventory currently on the market. This is extremely high and how long it would take to work off the 918 listings at a pace of 70 sales per month. Take this with a grain of salt however, because the volume of closings we’re seeing right now are partially a reflection of the bad weather we had for a month. Showings were down drastically and without showings, sales obviously suffer. I find optimism in the high number of homes that went under contract — 100 sales is a lot for a 15-day period and if all of those homes were to make it closing (and we used that sales rate to figure the absorption rate), the absorption rate would be a drastically improved 4.6 months of inventory.
Type |
# |
Average $ |
Avg DOM |
Listings Past 15 Days |
130 | $279,724 |
- |
Total Active Listings |
918 |
- |
- |
Newest Contracts Written |
100 | $275,738 | 100 |
Newest Sold (Closed) |
35 | $268,160 | 92 |
* The Average $ of Newest Contracts 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 results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.
If you’re having thoughts of buying or selling an Overland Park KS home, please contact me for in-depth market information and stats on the areas of Overland Park that most interest you. Real estate is LOCAL and poor market stats in one community can give way to excellent market stats in the community right next to it. We look forward to assisting you with making an informed real estate decision.
View Past Real Estate Stats On Overland Park Kansas
Buyer’s Agents In Overland Park Kansas
Seller’s Agents In Overland Park Kansas
Relocating to Overland Park Kansas
View All Listed Overland Park Kansas Homes For Sale
Overland Park Kansas
Overland Park Kansas Tip of the Day…
Overland Park Biking and Hiking Trails
Posted by Jason A. Brown
Updates via E-mail
Even with 100 contracts, there’s still more listings that came on the market. When do we see more homes sell than are listed? That’s when I believe the market starts improving.
@Pessimist: I asked the magic 8-ball if we’ll have more home sales than listings the next time I check the Overland Park real estate stats… it said “Reply hazy, try again”… so I did and it said “Outlook not so good”. Well, although more listings hurt home sellers, at least it provides Buyers with more opportunities.