The Olathe, Kansas residential real estate market is sizzling hot this spring! 🌞
The Olathe, Kansas residential real estate market is sizzling hot this spring! 🌞 According to the latest market trends report from RPR, the months of inventory for residential properties (single-family homes, condos, townhomes, and apartments) in Olathe stood at a low 2.52 in May 2024. This represents a 1.2% increase from the previous month and a whopping 103.3% increase compared to the same period last year.
Properties are flying off the market at lightning speed, with the median days a property stays on the market (Median Days in RPR) being just 18 days, a 12.5% increase from the previous month. 🚀 The median estimated property value for residential properties in Olathe also saw a notable increase, as shown in the graph.
The number of new listings, active listings, new pending listings, and pending listings all experienced an upward trend compared to the previous month, indicating a surge in market activity. 📈 Additionally, the number of sold listings for residential properties in Olathe increased, both in terms of the number of units sold and the median sale price.
The months supply of inventory, which measures the balance between supply and demand, stands at 2.52 months for residential properties. This represents a 1.2% increase from the previous month and a 13.5% increase compared to the same period last year, further highlighting the strong seller’s market conditions. 🏡
In Conclusion
If you’re a homeowner in Olathe considering selling, now is an excellent time to take advantage of the hot market conditions and potentially fetch top dollar for your property. 💰 With inventory levels low and demand high, properties are moving quickly and at premium prices. The Olathe real estate market is showing signs that this sizzling hot market is slowing down.
On the other hand, if you’re a buyer in the Olathe market, be prepared to act swiftly and make competitive offers to secure your dream home. 🏡💨
Don’t Miss
Don’t miss out on this incredible opportunity! Contact me today to discuss your real estate needs and let’s make your move in the sizzling Olathe market. 📞 Visit www.DowellFamilyTeam.com or email cd@reeceNichols.com to get started. Let’s turn your real estate dreams into reality! 🙌
