In the city of Overland Park Kansas there continues to be more homes coming on the market than homes going under contract (pending) or than homes being sold (closed). This creates a further surplus of supply in Overland Park. Using the past 15 days as a basis for figuring the absorption rate in Overland Park, there is just about 12.9 months of inventory on the market.  Keep in mind that a 15-day period is a small sampling of 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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*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 Note the date of this post as market stats become outdated.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. Stats were pulled at 9 AM on 2/11/09.