Overland Park Kansas Real Estate Market Stats – May 2012 Update

Checking The Pulse Of The Kansas City Real Estate Market

Overland Park Kansas Real Estate Update
Recent Real Estate Activity In Overland Park KS

Using the past 15 days of real estate sales activity in Overland Park Kansas to calculate the city’s absorption rate, we find there’s 3.8 months of inventory currently on the market. This amount of inventory is considered a balanced real estate market in the city of Overland Park. The average sales price the past 15 days was about $255,000 and the average new listing came on the market at just over $279,000. The last 106 home sold (closed) in Overland Park were on the market an average of 84 days. That’s quick and shows the Overland Park real estate market remains very stable.

Type # Average $ Avg DOM
Listings Past 15 Days 164 $279,302
Total Active Listings 810
Newest Contracts Written 169 $255,708 69
Sold (closed) Past 15 Days 106 $255,423 84

* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.

Even more impressive than the 106 homes closed the past 15 days is the 169 homes that went under contract during the same time period. That’s eating up a ton of inventory and if that sales pace continues we could be headed towards a buyer’s market in the Overland Park area. We help Overland Park Kansas home buyers and home sellers and if you’re considering purchasing or selling a home the Overland Park area, my real estate group looks forward to assisting you. Get more details about selling an Overland Park Kansas home and buying an Overland Park Kansas home. If you have specific questions, please contact my group for assistance.

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Posted by Jason Brown

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Overland Park Kansas Real Estate Update – May 2011

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, we find the city has 9.2 months of inventory currently on the market. This amount of inventory represents a continuation of a buyer’s market in Overland Park Kansas. Though the numbers of home sold (closed) the past 15 days wasn’t too impressive, more than double that number of homes went under contract. If the 143 homes that went under contract were to make it the closing table, the amount of inventory (calculated on the current volume of 1,150 homes for sale in Overland Park) could be re-calculated at right around 4 months of inventory. 

Type

#

Average $

Avg DOM

Listings Past 15 Days

183 $280,675

Total Active Listings

1,150

Newest Contracts Written

143 $273,525 97

Newest Sold (Closed)

63 $234,684 107

* 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.

Home sellers in Overland Park who did get their homes under contract the past 15 days did so in an impressive 97 days on average. It’s concerning though that the average priced new listing came on the market around $280,000, while the average sales price was in the mid $230’s. If your real estate goals involve buying or selling a home in Overland Park Kansas or the surrounding area, please contact me to discuss how we can assist you. We look forward to learning the details surrounding your plans to buy or sell an area home and helping you achieve your real estate goals. 

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Posted by Jason A. Brown

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Overland Park Kansas Real Estate Update – January 2011

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, we find there’s 7.5 months of currently inventory on the market. This is high but still solid for a city as large as Overland Park Kansas. It’s also much better than the 9.5 months of inventory on the market in Overland Park in November’s stats.

Type

#

Average $

Avg DOM

Listings Past 15 Days

66 $279,037

Total Active Listings

1,016

Newest Contracts Written

58 $303,243 172

Newest Sold (Closed)

68 $259,279 163

* 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.

For the first time in a while, there wasn’t a glut of homes coming on the market. If that continues and there’s even a modest increase in the number of home sales, Overland Park will get back into the 5 to 7 months of inventory range — which would indicate a stable real estate market. If your real estate goals involve buying or selling a home in Overland Park, please contact me for assistance. We’d look forward to assisting you with your area home purchase or sale.

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Posted by Jason A. Brown

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