Checking The Pulse Of The Kansas City Real Estate Market

Real Estate Info for The City of Overland Park KS
Recent 15 Days of Overland Park Kansas Market Activity

After calculating the absorption rate over the past 15 days in Overland Park Kansas, I find there’s currently 16.5 months of inventory on the market. This is very high but not surprising given that many homes closing right now would have gone under contract during the holidays. The number of homes that went under contract was more than double the number of homes that sold over the same 15-day period, giving more hope that things will improve in the coming weeks.

* 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 we assume that all of the homes that went under contract the past 15 days will end up closing (and use that figure to calculate the absorption rate), the result is 7.5 months of inventory on the market. Still high, but much improved over the sold figure used to calculate the absorption rate. If you’re planning to sell an Overland Park area home or move within or into the area, please contact me for assistance. I look forward to learning about your real estate goals and guiding you through your home purchase or home sale.

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Posted by Jason A. Brown