What the Unprecedented Real Estate Boom in Olathe, KS, Means for Homebuyers

property investmentAs per 2010 census, Olathe is home to 125,872 inhabitants, making it the fourth most populous city in Kansas. The city is also the fourth largest city in the Kansas City Metropolitan Area.

Olathe is currently experiencing an economic surge led by a rising population, expanding businesses, and, lately, a real estate boom. So, any new resident would find it easier to find new homes. Olathe, KS, is indeed ready for further growth and more opportunities.

A City on the Rise

Olathe's population has risen dramatically in the last two decades, doubling from 63,440 in 1990 to over 125,000 in 2010. This spike in population was due largely to the outward growth of Kansas.

With new businesses coming in, the city has become home to many commercial and industrial parks. Its largest employers are a mix of public and private firms, with the latter consisting of top multinationals serving the technology, BPO, food, and insurance markets.

Real Estate Boom

With more robust economic activity, expect more workers and jobs. This expansionary trend is only natural. But with available real estate in the city, the growth could only be sustained.

In fact, buying homes in the city is very easy. Just recently, those looking for a home in Johnson County are finding only about a month and a half worth of available homes. Homes that are selling at most $350,000 are registering the highest demand.

Such strong demand would only mean that residential property values will keep on rising. For 2018, experts expect that the appraised values of homes will continue to rise.

In the previous year, 95 percent of residential property values increased. Olathe is among 12 areas in the county that saw the most increase in property values.