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

* 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

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

Buyer’s Agents In Lee’s Summit Missouri

Seller’s Agents In Lee’s Summit Missouri

View All Listed Lee’s Summit Missouri Homes

Posted by Jason A. Brown