THE INDEXKC- OLATHE WEEKLY MARKET UPDATE
Weekly Olathe Real Estate Market Update
With 29 new listings last week, contrasted with 11 price reductions (from homes listed in previous weeks), easy to note the effect the lack of inventory is having on Olathe home values.
On the other hand, days on market averaged 18 this past week in Olathe, while the balance of the metro averaged 13. I believe this reflects sellers coming to market with unrealistic list values; hey it’s up to their Realtors to set realistic expectations whil eht emarket shift continues.
The shift in our industry is driven by several factors; rising mortgage interest rates, falling numbers of new build permits, buyer pool exhaustion/contraction….and the wild card, inflation. We’ll continue to see prices rise less as the year progresses.
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers. www.teamre.com/contactus