Tag Archives: Lee's Summit Homes For Sale

There’s a big difference between for sale and SOLD when selling a home

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Hottest Real Estate Markets In The Kansas City Metro Area

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Checking The Pulse Of The Kansas City Real Estate Market

I thought it would be interesting to see which Kansas City metro cities are currently seeing the best sales rates. If we went strictly by gross number of sales, the largest cities would of course dominate the rankings. Instead, I wanted to see how many months of inventory was present in each city.  In other words, I’ve compared the past 30 days sales rate against the current number of homes on the market. I wrote down the largest 20 cities that came to mind and after running the numbers here’s the hottest real estate markets in Kansas City…

#1. Prairie Village, 5.1 months of inventory
#2. Olathe, 6.8 months of inventory
#3 (tie). Overland Park, 7.4 months of inventory
#3 (tie). Lenexa, 7.4 months of inventory
#5. Shawnee, 7.6 months of inventory
#6. Raymore, 8.6 months of inventory
#7. Lee’s summit, 9.8 months of inventory
#8. Liberty, 9.8 months of inventory
#9 (tie). Kansas City, 10.4 months of inventory
#9 (tie). Leawood, 10.4 months of inventory


Prairie Village and it’s charm came in with a solid 5.1 months of inventory and that’s as close to a stable market as you’ll see today. Johnson County had the most cities in the top 10, easily outpacing other surrounding Kansas City metro area counties.

Posted by Jason A. Brown

Lee’s Summit Missouri Real Estate Update – November 2009

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Checking The Pulse Of The Kansas City Real Estate Market
Current Real Estate Info for The City of Lee’s Summit MO
Recent 15 Days of Lee’s Summit Missouri Market Activity
Type
#
Average $
Avg DOM
Listings Past 15 Days
 85
 $242,599
–
Total Active Listings
 752
–
–
Newest Contracts Written
 54
 $219,950 132
Newest Sold (Closed)
 44
 $201,383 122

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

Lee's Summit Missouri Real Estate

Lee's Summit Missouri Real Estate

Using the past 15 days of market stats in Lee’s Summit as the basis for figuring the city’s absorption rate, there’s 8.5 months of inventory currently on the market.  Looking at absorption rates helps us compare the supply and demand of Lee’s Summit MO Real Estate. 8.5 months of inventory is high and obviously a concern for area home sellers.  Anything more than 5 months of inventory is considered a buyer’s market, so home buyers certainly have plenty of homes from which to choose. Buyers should be able to get an excellent deal in many subdivisions in the Lee’s Summit area and these market stats are causing home sellers to be aggressive with their list pricing.

The Lee’s Summit homes that have sold (and the others that went under contract) have done so in a reasonable amount of time – 122 and 132 days respectfully. It’s the homes that aren’t selling that are a concern. With 752 homes on the market, we’d need to have seen about 100 sales over this 15 day period to net a more reasonable figure of 4 months of inventory on the market. If you’re considering selling or buying a Lee’s Summit Missouri home and need market statistics specific to a particular community in the Lee’s Summit area, please contact me to discuss your situation.

View Past Real Estate Stats On Lee’s Summit Missouri

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View All Listed Lee’s Summit Missouri Homes

Posted by Jason A. Brown

Lee’s Summit Missouri Real Estate Update * Lee’s Summit MO Market Stats

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Hands On The Heartland

Checking The Pulse Of The Kansas City Real Estate Market

City of Lee’s Summit Missouri Real Estate Update

Lee’s Summit MO Real Estate Market Stats <> 15-day Glance

Type

#

Average $

Avg DOM

–

Newest Listings

90

$243,923

–

View Newest Listings

Total Active Listings

905

–

–

–

Newest Under Contract

87

$213,578*

159

View Newest Under Contract

Newest Solds (Closed)

35

$177,009

93

View Newest Solds

* Average Newest Under Contract considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew a particular category. DOM is Days On Market. Note the date of this post as market stats become outdated. Stats may not be an exact 15 days and stats were pulled in the AM on 5/29/09.

 

Lees Summit Missouri

Lee's Summit Missouri

 

In the city of Lee’s Summit Missouri there continues to be more homes coming on the market than homes going under contract (pending) or than homes being sold (closed). There is good news in that the number of home that went under contract (87) in the past 15 days is almost the same as the number of new homes that came on the market (90) in Lee’s Summit MO. Still, when using the past 15 days of sales as a basis for figuring the absorption rate in Lee’s Summit, there’s nearly 13 months of inventory on the market. 

If we use the number of homes that went under contract (rather than the homes that closed) to figure the absorption rate in Lee’s Summit, the figure is a much-improved 5.2 months of inventory. Let’s hope all those pending sales make it all the way to the closing Also, keep in mind that a 15-day period is a small sampling of Lee’s Summit Missouri market activity and designed to look at the what’s going on now in the current real estate market. While a 15-day period could indicate a trend, it does not necessarily show a real estate markets long-term trend.

Posted by Jason A. Brown

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