Bobbi H. from Olathe
Answer: Without knowing what subdivision or what part of Olathe you live in, I will address selling a home in all of Olathe. I will break down parts of Olathe in the next couple of days.
First, there are 623 homes for sale on the Heartland MLS, which serves Olathe, Kansas. The past month has been a very productive month with 175 homes selling, according to the Heartland MLS. Currently there are 473 homes are under contract. Due to the month ending so close to the weekend and real estate agents having 14 days to update the real estate status on the MLS, the data is not 100% accurate. For this report, the data is sufficient.
Regarding the real estate market changing - According to the Heartland MLS, the stats show that there is just a little over a 3.5 months supply of real estate for sale.
What does this mean? A balanced market is considered a 6 months supply of real estate for sale. During the past couple of years when we saw a strong buyer's market, there has been over a 7 months supply of real estate for sale in Olathe. With a 3.5 months supply of real estate for sale, Olathe is starting to turn to a strong sellers market.
If the supply of real estate stays low and interest rates stay low, look for home values to increase.
Bottomline: The real estate market is turning to a Strong Seller's Market in Olathe, Kansas. If you're thinking of selling, consider getting a Real Estate Market Analysis on your Olathe home.
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