THE INDEXKC- OVERLAND PARK WEEKLY MARKET UPDATE
Weekly Olathe Real Estate Market Update
ZERO DAYS ON MARKET….WOW The Overland Park stats are amazing. Homes are receiving offers prior to becoming officially listed….Is this a good thing or a bad thing? Little of both?
On one side, we ‘ve got 37 new listings last week, on the other 17 price reductions (from homes listed in previous weeks), I don’t blame the misunderstanding of our local housing market on casual observers. This only points out the difference in our local micro markets (Shawnee, Olathe, Overland Park, etc.) and the importance of connecting with an experienced, well-coached Kansas City Realtor.
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.