Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Olathe Kansas
Recent 15 Days of Olathe KS Market Activity
After using the past 15 days of sales stats to calculate the absorption rate in Olathe KS we find there’s 8.1 months of inventory on the market. This is high but not too bad given we’re just now starting to see warmer temperatures and more home buyers scheduling showings. Also, the 101 homes that went under contract is a huge number and if we were to assume all those would close and use that figure to calculate the absorption rate, there would be closer to 4 months of inventory. That amount of inventory would actually jump from a buyer’s market to a mild seller’s market in that case.
|
Type |
# |
Average $ |
Avg DOM |
|
Listings Past 15 Days |
147 | $246,083 |
– |
|
Total Active Listings |
881 |
– |
– |
|
Newest Contracts Written |
101 | $210,459 | 172 |
|
Newest Sold (Closed) |
54 | $210,241 | 192 |
* 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.
Months of inventory only considers inventory volume and doesn’t give consideration to actual sales prices. It’s concerning that the average home seller who listed the past 15 days hopes their home is worth around $246,000, while the average sales price was near $210,000. That’s quite a difference to say the least.
If your real estate goals involve buying or selling a home in Olathe, we look forward to assisting you with your home purchase or sale. Our listing representation is top-notch and we have buyer’s agents who work the entire Olathe area and can represent your best interest throughout the home buying process. Please let us know whenever you have any questions about buying or selling an Olathe Kansas home.
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Posted by Jason A. Brown
