Checking The Pulse Of The Kansas City Real Estate Market

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

Using the past 15 days of market stats in the chart below to figure the absorption rate in Overland Park, there’s 8.7 months of inventory currently on the market. This is high but the stats should be taken with a grain of salt since the weather led to low traffic and contracts being written in December and January. It’s also noteworthy that there were 109 homes that went under contract over the past 15 days. If all of those were to make it to closing and we figured the absorption rate in Overland Park on that figure, the days on market would be a vastly improved 4.5 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.

Should you prefer a longer sales history to figure the months of inventory on the market in Overland Park, we can use the past 12 months instead. Over the past year, there were 2,333 homes sold in the city. Comparing that demand to the 986 home supply we have now, there’s 5.1 months of inventory on the market in Overland Park. If you are considering selling or buying an Overland Park Kansas home, I’d look forward to assisting you. Market conditions are pivotal in most home buying and selling decisions, so please let me know more about your situation and how I can assist you.

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Posted by Jason A. Brown