Checking The Pulse Of The Kansas City Real Estate Market

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

Using the past 15 days of market stats in the chart below, the absorption rate in  Olathe Kansas is 16 months. That’s the highest I’ve seen it in the past 2 years. The problem is obviously a demand of 50 sales a month in the city when there’s 800 homes on the market. While this is alarming, do keep in mind the extreme weather we’ve had the past month led to very few contracts being written and, as such, we’re seeing few closings 30 days later. In fact, I don’t remember the last time I saw the contracts written stats in any city so much better than the homes sold (closed) stats.  84 homes went under contract over the same 15-day period and if we were to use that stat to figure the absorption rate (assuming they all will close), then the absorption rate would be a much improved 4.8 months of inventory.

* 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.

Keep in mind that 15 days of market activity is a small snap shot of what’s going on with Olathe Kansas real estate. If you’re considering an Olathe Kansas home purchase or home sale, please contact me  for the market statistics specific to your Olathe KS subdivision or area. I look forward to discussing the comparable market statistics and general market conditions that will affect your buying or selling decisions.

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Posted by Jason A. Brown