Olathe real estate market statistics February 8th 2013

By
Real Estate Agent with REMAX INFINITY

Olathe residential housing statistics February 8th, 2013

Olathe is wonderful suburb of Kansas City. Olathe adjoins Overland Park, Gardner, Lenexa and DeSoto

There are 504 homes listed for sale in Heartland Multiple Listing Service (MLS) in Olathe KS as of February 8th, 2013. Current asking prices in Olathe range from $50K for a single family home in the Belmont neighborhood to $4.6 Million for a Lodge Estate home on 40+ acres. Asking prices are the same as listing prices.

In the last 90 days there have been 439 homes sold in Olathe. Selling home prices, in the last 3 months, range from $31,500 for a small single family home on Loula to over $1.5 Million for a large new construction estate style home in cedar creek the reserve.

Getting some meaning out of the housing numbers - figuring the absorbtion rate.

Defining absorbtion rate

Absorbtion rate is how many homes are selling per month on average. Using the absorbtion rate and comparing it to the available list of homes for sale will provide the months of inventory on hand. The number of months of inventory gives a rule of thumb measurement about the state of the housing market. The lower the number of months of inventory on hand the better it is for home sellers. Home sellers have the advantage when inventory is low and demand is high because there is more demand than supply. If the market had been dropping it might allow home prices to level off and stop dropping. Houses in good condition with above average advertising and marketing can, and do, move very quickly

Using absorbtion rate

Taking the number of homes sold and dividing by 3 months gives a sales pace or absorbtion rate of homes 146.3 homes sold per month. With the 504 homes for sale, divided by the current demand means Olathe, in general, is in a Seller advantaged market with 3.4 months of inventory. Demand is outstripping supply. A seller advantaged housing market is thought of anything under 5.5 - 6.5 months of inventory based on taking the number of homes for sale divided by the absorbtion rate.

So what does that mean to a home seller? Price your home well compared to the competition and in its current condition and you should be in good spot. Even in a seller advantaged market buyers will still not buy overpriced homes or homes that are in poor condition compared to the other homes on the market.

Beat the crowd, put your home on the market NOW. Call Ken Jansen today at 913-908-2215

Find a home quick with these easy home search links.

Olathe houses for sale $170,000 to $180,000

Olathe Homes $180,000 to $190,000

Olathe KS homes $190,000 to $200,000

Houses for sale in Olathe KS $200,000 to $210,000

Olathe KS house for sale $210,000 to $220,000

Homes for sale in Olathe KS $220000 to $250000

Homes for sale in Olathe KS $249000 to $275000

Homes Olathe $274000 to $300000

Homes for sale in Olathe KS $299000 to $325000

Houses for sale in Olathe KS $324000 to $350000

Olathe homes for sale $349000 to $375000

Homes for sale in Olathe KS $374000 to $400000

Homes for sale in Olathe $399000 to $425000

Olathe houses $424000 to $450000

Homes in Olathe KS $449000 to $500000

Houses for sale in Olathe $499000 to $600000

Homes in Olathe $599000 to $650000

Olathe KS homes $699000 to $800000

Homes for sale in Olathe KS $799000 to $1000000

Homes in Olathe $1MM +

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Kansas Johnson County Olathe
Tags:
olathe real estate
olathe homes for sale

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
228,921

Ken Jansen

REALTOR, CRS, 913.908.2215
Ask me a question
*
*
*
*
Spam prevention

Additional Information