Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market

City of Olathe Kansas Real Estate Update

Olathe KS Real Estate Market Stat <> 15-day Glance

* 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 Note the date of this post as market stats become outdated.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 and stats were pulled 9 AM on 2/24/09.

City Of Olathe Kansas

In the city of Olathe Kansas there continues to be more homes coming on the market than homes going under contract or than homes being sold (closed). This creates a further surplus of supply in Olathe. Using the past 15 days as a basis for figuring the absorption rate in Olathe Kansas, there’s almost 13.5 months months of inventory on the market on the market in Olathe. We saw significantly more home go under contract than homes closed, so if we use the under contract figure (rather than homes closed) as our basis for figuring the months of inventory, there is 5.5 months of inventory. If all of these pending homes can make it to closing, this would be very promising.

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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