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

City of Overland Park KS Real Estate Update

Overland Park Kansas Real Estate Market Stats <> 15-day Review

* 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 Note the date of this post as market stats become outdated.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 in the PM on 3/10/09.

Overland Park Kansas

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 KS. Using the past 15 days of homes closed (64) as a basis for figuring the absorption rate in Overland Park, there’s about 8.5 months of inventory on the market.

There were more pending sales than homes that actually closed and that looks promising. If we use the 87 Pending sales over the past 15 days as the basis for figuring the absorption rate in Overland Park, there’s a little over 6 months of inventory on the market in Overland Park. Do keep in mind that a 15-day period is a small sampling of market activity and 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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