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 |
– |
|
Total Active Listings |
905 |
– |
– |
– |
Newest Under Contract |
87 |
$213,578* |
159 |
|
Newest Solds (Closed) |
35 |
$177,009 |
93 |
* 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 Note the date of this post as market stats become outdated.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.
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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