Find area information and real estate listings for the Mills Farm Subdivision, Overland Park, Kansas. Learn more about Mills Farm, including available homes for sale, school info, and area reviews, from a local RE/MAX real estate agent.
In the last six Months Mills Farm has had 24 homes sold/closed as of January 14, 2019. This ratio of homes sold over time is called the absorption rate. The most recent absorption rate averaged over the last six months is two homes per month. At the time of writing there are 13 homes for sale in Mills Farm. If the most recent absorption rate continues it would take, on average, a little over six months to sell all of the homes for sale, assuming that all homes would sell, and that no additional homes came on the market.In general terms a market is considered balanced when the supply of homes equals 5.5 to 6.5 months of inventory compared to demand or absorption rate. The lower the month's supply of home is, the seller tends to see an advantage in price or terms. The higher the number of months supply of homes the more advantage there is to the buyer in terms of price or terms.Mills Farm, having a mix of new and under construction homes as well as resale homes for homes in Mills Farm means that Mills Farm is in a normal balanced market. Home sale prices in the last six months, as of January 14, 2019, ranged from a low of $525k to a high of $2MM. The median sales price was roughly $700K. Current inventory prices range from $665K to $1.35MM. Median asking price is $884K