Olathe Kansas Real Estate Update – May 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 8.3 months of inventory currently on the market. This amount of inventory indicates it remains a buyer’s market in the Olathe area. The average sales price the past 15 days looks solid though and was actually higher than the average priced new listing to come on the market over the same period of time. It’s still taking some time for Olathe home sellers to get to the closing table – 199 days on average for the most recent 59 home sales in Olathe.

Type

#

Average $

Avg DOM

Listings Past 15 Days

155 $235,006

Total Active Listings

982

Newest Contracts Written

106 $204,099 115

Newest Sold (Closed)

59 $252,772 199

* 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.

An impressive number of Olathe homes went under contract (106) and hopefully the vast majority of those make it through to closing. If your real estate plans involve selling or buying a home in Olathe Kansas or in the surrounding areas, please contact me to discuss your situation. We look forward to learning about your real estate objectives and working to help you achieve them. 

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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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Olathe Kansas Real Estate Update – December 2010

Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Olathe KS
Recent
15 Days of Olathe Kansas Market Activity

After calculating the absorption rate over the past 15 days in Olathe Kansas, we determine there’s currently 11.9 months of inventory on the market. This is high but the stats also cover the Thanksgiving holiday when sales are slower. Still, there’s a lot more inventory currently on the market than there are Sold (closed) homes or homes going under contract. The 38 homes that did close in Olathe the past 15 days took 169 day to do so.

Type

#

Average $

Avg DOM

Listings Past 15 Days

83 $206,083

Total Active Listings

908

Newest Contracts Written

49 $183,465 121

Newest Sold (Closed)

38 $222,041 169

* 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 buying or selling an Olathe Kansas home is in your plans, please contact me to discuss your real estate situation. We can meet my office or at your home to discuss your goals and how we can help you achieve them. We’re internet savvy Olathe Kansas real estate experts and we’re always working to give our clients an advantage in their real estate transactions.

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I Love Working Hard With No Guarantee That I’ll Ever Get Paid — Really, I Do

Checking The Pulse Of The Kansas City Real Estate Market

I’ve got to be in the craziest profession of them all. Strictly commission based in a business where the company never even asked to see my diploma from the University of Kansas. Although the diploma didn’t end up playing a pivotal role, at least I got to play a lot of pickup basketball with some of the great KU basketball players from 1989 to 1992. Once I left college I jumped right into real estate and have since been a partner in the development of many Kansas City area home communities. For the last five years however, I’ve focused strictly on representing buyers in sellers with their Kansas City real estate needs.

For those who don’t know much about the industry, real estate agents are 100% commission based – or at least all of them I know are. There’s no base salary or draws against future income like you’ll find in sale’s positions in the insurance industry, automotive industry, etc.  But I’m not crying the blues. Though the risk is undeniable, the rewards can be many. Still, without any guarantee that there will be any check waiting for you on Friday, real estate agents must have a plan that serves their clients well if they’re to survive in this business.

I’ve read many times over how easy it is to be a real estate agent. But the truth is that it’s not easy at all. There’s so much that goes into this business if an agent is truly looking out for their client’s best interests. No it’s not hard to get licensed and it’s not too difficult to keep up with the continuing education. But for many it’s hard to remain disciplined, focused, and put in the time necessary on a daily basis to get their sellers homes sold, ensure their buyers are receiving expert guidance while all the while creating a stream of future business.

Returning messages in a timely fashion, staying organized, marketing my listings, keeping an eye out for homes that meet my buyer’s needs, following up on my client’s transactions, providing detailed market info and everything in between is what I do on a daily basis. I’m in my office at 7 am nearly every day and that’s not something you’ll get out of most agents. I’m not knocking agents who don’t come in early, but getting into the office early helps ensure there’s enough time to get the necessary business done. Buyers and sellers are counting on their real estate agent to get them the best deal and  if an agent is always rushed, there’s no way that’s happening.

Much of the time, Kansas City home buyers and sellers don’t see the subtle things a good agent has done to bring them success. But, in the end my clients know that I took care of the little things along the way. Brokers and agents certainly go out on a daily basis and assume liability and risk with no guarantee of ever getting paid. But the successful days make up for all those days spent working with buyers who never bought, sellers that stuck to the list price despite feedback the home was over-priced, and other deals that fell apart when the buyer lost their job, the appraiser decided the home wasn’t worth what the buyer was willing pay, the lender decided to run the buyer’s credit after issuing a pre-approval letter, and so on and so forth.

Posted by Jason A. Brown

Olathe KS Real Estate Update – January 2010

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

Using the past 15 days of market stats in the chart below, the absorption rate in  Olathe Kansas is 16 months. That’s the highest I’ve seen it in the past 2 years. The problem is obviously a demand of 50 sales a month in the city when there’s 800 homes on the market. While this is alarming, do keep in mind the extreme weather we’ve had the past month led to very few contracts being written and, as such, we’re seeing few closings 30 days later. In fact, I don’t remember the last time I saw the contracts written stats in any city so much better than the homes sold (closed) stats.  84 homes went under contract over the same 15-day period and if we were to use that stat to figure the absorption rate (assuming they all will close), then the absorption rate would be a much improved 4.8 months of inventory.

Type
#
Average $
Avg DOM
Listings Past 15 Days
119 $223,020
Total Active Listings
801
Newest Contracts Written
84 $216,320 92
Newest Sold (Closed)
25 $236,615 89

* 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.

Keep in mind that 15 days of market activity is a small snap shot of what’s going on with Olathe Kansas real estate. If you’re considering an Olathe Kansas home purchase or home sale, please contact me  for the market statistics specific to your Olathe KS subdivision or area. I look forward to discussing the comparable market statistics and general market conditions that will affect your buying or selling decisions.

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