Comments Off on Olathe Kansas Real Estate Update – April 2011
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 calculating the absorption rate over the past 15 days in Olathe Kansas, we find the city has 7.1 months of inventory currently on the market. This amount of inventory is not far from being considered a stable real estate market and that’s a promising sign for Olathe home sellers. The 64 homes that sold took 6 months to do so but the 99 homes that went under contract during the same 15-day period, did so in just 4 months.

Type

#

Average $

Avg DOM

Listings Past 15 Days

160 $237,180

Total Active Listings

914

Newest Contracts Written

99 $206,747 120

Newest Sold (Closed)

64 $187,411 187

* 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.

The average sales price is a concern as the average new listing was listed around $237,000, while the average sales price in Olathe over the same period was closer to $187,000. 5 to 7 months of inventory is considered a stable real estate market, so if the amount of inventory falls – due to fewer distressed listings on the market or due to a greater volume of home sales – home prices in Olathe could really stabilize.  If you are considering buying or selling a home in Olathe, it’s important that you hire a tech savvy real estate agent. Contact my group and we’ll provide you expert listing expertise when selling and expert buyer’s agent guidance when purchasing an Olathe area home. 

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Posted by Jason A. Brown

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