Home Buying in 66062>Question Details

Lidy228, Home Buyer in Olathe, KS

Is it more of a buyers market or sellers market lately.?

Asked by Lidy228, Olathe, KS Thu Jun 27, 2013

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3
Howdy Lidy, ....Finally we are seeing some turn around from the 2 year Buyers Market we have experienced. With KC Home Inventories down to a 13 year low and loads of buyers out there, we are seeing multiple offers on homes and some homes selling within hours or days of being listed. That scenario speaks of more of a turning towards a Sellers Market. We are on the curve, or the turn from a Buyers to a Sellers Market to answer your questions. Sellers aren't nearly as desperate to sell their homes as they were even this time last year. Housing prices have show small increases but not nearly a full price recovery.

Keep those questions coming! Olathe is selling well and is considered the fastest growing city in the state of KS right now. Real Estate is booming there!

Yours Truly Lidy,
Cheryl Steffen
Keller William Diamond Partners Inc
Olathe KS
816-591-3799
cs.steffen618@gmail.com
0 votes Thank Flag Link Fri Jun 28, 2013
Hello Lidy 228,
In terms of market activity, the trend is towards sellers right now as we are below 6 months' of inventory for sale (which is considered a balanced market). However, prices still haven't completely recovered. While sellers can get their homes sold faster than before, and often receive multiple offers (if the home is in a good area and is move in ready), if they purchased their home during the market heydey they may not recover the purchase price.
As interest rates are low, coupled with the affordable pricing in our area, it is still a good time to buy and the market isn't completely slanted towards sellers. There is good news for everyone right now!
I'm happy to answer any other questions you may have.
Best Regards,
Sonya Muller, Broker Associate,
RE/MAX Best Associates
sonyaRmuller@gmail.com
913-424-5489
0 votes Thank Flag Link Fri Jun 28, 2013
It depends a lot on the area. In certain neighborhoods of Olathe it's a definite Sellers Market. I'm seeing homes priced well and staged right getting multiple offers in the first 24 hours and selling over asking price. Metro wide we're at just under 5 months of inventory. So for the entire metro it's a flat market.
0 votes Thank Flag Link Fri Jun 28, 2013
What is the market at right know? And what is the months supply? Less than 6months?
Flag Sun Sep 29, 2013
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