Olathe Kansas Real Estate Update – June 2010

Hands On The Heartland
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 Olathe Kansas real estate stats to figure the absorption rate in the area, there’s currently 5.4 months of inventory on the market.  Absorption rates tell us how long it will take to eat up the current inventory at the sales rate over the chosen period. Having just over 5 months of inventory on the market is good in our current real estate market and is close to a stable market. Although average sales prices are down compared to recent years, it’s excellent that the average priced new listing is perfectly in line with the average sale price over the past 15 days in Olathe KS. Seller’s certainly appear to be pricing their homes more appropriately than in recent months.

Type
#
Average $
Avg DOM
Listings Past 15 Days
135
$240,831
Total Active Listings
1,008
Newest Contracts Written
63
$229,732 101
Newest Sold (Closed)
94
$238,534 119

* 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.

The average home sold in 4 months and that’s a little higher than most sellers would like to see.  Market stats like these can tell you a lot about an area. As an Olathe real estate expert, I’m constantly analyzing the market stats in Olathe, Johnson County Kansas and the surrounding Kansas City area to help my clients make the best real state decisions. If you’re considering selling or buying a house in the Olathe Kansas,  I look forward to assisting you.

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Olathe KS Real Estate Update * 15-days Of Olathe Kansas Market Stats

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

City of Olathe KS Real Estate Update <> 15-day Glance:

Olathe Kansas Real Estate Market Stats

Type

#

Average $

D.O.M

Newest Listings

125

$181,717

View These Listings

Total Active Listings

975

Newest Pending

34

$283,975*

108

View These Pendings

Recently Sold (Closed)

41

$200,975

40

View These Solds

* The average price of the Newest Pending is the list price of the home when it went under contract – actual contract and/or sales price unknown until post-closing reporting. Notes: Information pulled from Heartland MLS and deemed reliable but not guaranteed. If there is a low sampling of homes in any particular category, an average can be easily skewed high or low by an unusually high or low sale during the 15-day period. Note the date of the post as any market stats quickly become outdated. Depending on when the stats were pulled the stats may not be an exact 15 days. D.O.M is Days On Market.
 

In the city of Olathe 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 the city of Olathe. Using the past 15 days as a basis for figuring the absorption rate in Olathe, there is just shy of 12 months of inventory on the market. Keep in mind that a 15-day period is a small sampling of market activity designed to look at the what’s going on short term in the current Olathe real estate market. While a 15-day period could indicate a trend it does not necessarily show a real estate market’s long-term trend.

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Posted by Jason A. Brown

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