Hottest Real Estate Markets In The Kansas City Metro Area

Posted on April 16, 2010 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

I thought it would be interesting to see which Kansas City metro cities are currently seeing the best sales rates. If we went strictly by gross number of sales, the largest cities would of course dominate the rankings. Instead, I wanted to see how many months of inventory was present in each city. In other words, I’ve compared the past 30 days sales rate against the current number of homes on the market. I wrote down the largest 20 cities that came to mind and after running the numbers here’s the hottest real estate markets in Kansas City…

#1. Prairie Village, 5.1 months of inventory

#2. Olathe, 6.8 months of inventory

#3 (tie). Overland Park, 7.4 months of inventory

#3 (tie). Lenexa, 7.4 months of inventory

#5. Shawnee, 7.6 months of inventory

#6. Raymore, 8.6 months of inventory

#7. Lee’s summit, 9.8 months of inventory

#8. Liberty, 9.8 months of inventory

#9 (tie). Kansas City, 10.4 months of inventory

#9 (tie). Leawood, 10.4 months of inventory

Prairie Village and it’s charm came in with a solid 5.1 months of inventory and that’s as close to a stable market as you’ll see today. Johnson County had the most cities in the top 10, easily outpacing other surrounding Kansas City metro area counties.

Posted by Jason A. Brown

Olathe KS Real Estate Update * 15 Days Of Olathe Kansas Real Estate Market Activity

Posted on April 1, 2009 by Jason Brown

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 Stats <> 15 Day Review

Type	#	Average $	Avg DOM	–
Newest Listings	144	$274,827	–	View Newest Listings
Total Active Listings	1,029	–	–	–
Newest Under Contract	87	$194,411*	105	View Newest Under Contract
Newest Solds (Closed)	55	$204,159	89	View Newest Solds

* 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 Note the date of this post as market stats become outdated.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 AM on 4/1/09.

In the city of Olathe 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 Olathe KS. Using the past 15 days as a basis for figuring the absorption rate in Olathe, there is a little more than 9 months of inventory on the market.

There was a more impressive number of homes going under contract (87) and if we use the number of pending sales as the basis for figuring the absorption rate then the months of inventory is a little under 6 months. That’s the best figure I’ve seen in a while so hopefully all the homes make it to the closing table. It should be noted that the average list price of those homes that went under contract was around $194,000 while the average list price of the 144 new listings was around $275,000. That’s quite a difference.

Keep in mind that a 15-day period is a small sampling of Olathe Kansas 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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Olathe KS Real Estate Statistics * 15-Day Update On Olathe Kansas

Posted on February 24, 2009 by Jason Brown

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

Type	#	Average $	Avg DOM	–
Newest Listings	117	$212,622	–	View Newest Listings
Total Active Listings	967	–	–	–
Newest Under Contract	88	$194,237*	83	View Newest Under Contract
Newest Solds (Closed)	38	$221,117	35	View Newest Solds

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.