The numbers are in for December 2009 and the real estate market in Lees Summit is doing well... contrary to what the talking heads may lead one to believe.
Here is the data as compiled by Heartland MLS
Available Homes for sale: 919
New Listings: 135
Average List Price: $243,985
Homes "under contract": 26
Homes SOLD: 108
Average SOLD price: $226,682
Sales to List Price 95.6%
AVG Days on Market (DOM) 128
Number of homes withdrawn from market: 4
Number of homes Expired from market: 89
Number of homes back on market: 42
The good news is that homes that are priced appropriately are selling. What we are observing is that a home that is priced well and in good condition should be under contract in about 90 days. Lower priced or affordable homes are selling much faster. In fact, we still have a shortage of homes that are in good condition and priced below $150,000. I expect this to continue through April as first time buyers are pushing to get their purchases made in time to qualify for the FTHB TAX CREDIT.
The bad news is that we have yet to see the sellers of the affordable homes move up and start absorbing the middle and upper middle priced inventory. Luxury homes sells are still a bit anemic. Once you reach the 300k price point there seems to be a lot less activity.
I expect the first quarter to be moderate to strong with affordable homes sales leading the way.
Some neighborhoods are still very popular so one has to look at the specifics before making a blanket generalization concerning homes values in Lees Summit.
Should you have questions about a specific neighborhood or school district or zip code, give me a call or drop me an e-mail. I would be happy to help.
David Nichols
816-536-1334
|
Bellow you will find market statistics for the Lee's Summit area. These stats show the year to date totals so far through 2008. These numbers show the average days on market for Lees Summit to be 40.
Clearly, homes in Lees Summit are selling and the market is continuing to show signs of improvement. Homes in Lees Summit that are priced properly and are in good condition are selling and are selling quickly. There appaers to be a lag in properties that are above $200k and there is a shortage of affordable housing in Lees Summit.
For more information or to discuss the market and how it is impacting your property please contact David Nichols at 816-536-1334 or email to DN@mykchometeam.com
| Month | Year | Units Listed | Listed Volume | Listed Average | Units Sold | Sold Volume | Sold Average | Average DOM |
|---|---|---|---|---|---|---|---|---|
| Dec | 2007 | 162 | 41,729,692 | 257,590 | 134 | 27,283,066 | 203,604 | 35 |
| Jan | 2008 | 248 | 60,466,054 | 243,814 | 109 | 22,161,418 | 203,315 | 50 |
| Feb | 2008 | 256 | 60,987,757 | 238,233 | 130 | 29,892,247 | 229,940 | 39 |
| Mar | 2008 | 316 | 85,230,568 | 269,716 | 153 | 31,368,463 | 205,022 | 39 |
| Apr | 2008 | 299 | 74,094,802 | 247,808 | 159 | 31,697,839 | 199,357 | 39 |
| May | 2008 | 301 | 79,263,132 | 263,332 | 180 | 36,296,198 | 201,645 | 38 |
| Jun | 2008 | 323 | 77,601,923 | 240,253 | 171 | 34,627,862 | 202,502 | 36 |
| Jul | 2008 | 291 | 70,733,163 | 243,069 | 171 | 38,394,852 | 224,531 | 32 |
| Aug | 2008 | 262 | 65,116,380 | 248,535 | 173 | 35,697,298 | 206,342 | 35 |
| Sep | 2008 | 97 | 23,044,925 | 237,576 | 39 | 9,108,071 | 233,540 | 52 |
| Totals: | 2555 | 638,268,396 | 249,812 | 1419 | 296,527,314 | 208,969 | 40 | |
| Total Listed:2555 | Off Market Units:1001 | Sold Units:1419 | Remaining Units:135 * Inventory Accum.:0.95 ** |
| Min Sold Price: $31,000 |
Average Sold Price: $208,969 |
Median Sold Price: $174,900 |
Max Sold Price: $2,265,000 |
* Remaining Units = (Total Listed) - (Off Market Units + Sold Units) |
|||
| ** Inventory Accumulation (in months) = (Remaining Units)/(Sold Units/Months) | |||
Looking for something fun to do this weekend?
Come out to Strotherfest Friday July 18 and Saturday July 20

The following is a list of events scheduled for the festival FRIDAY, JULY 18 Inflatable play stations, games, attractions for kids
Singers and musicians perform all afternoon live and on stage
BBQ Beef & Pork, Hoagies, Ice Cream, Funnel Cakes and great food
Bingo, games, craft vendors
1:30 PM, Kids 2 Leaders
3:00 PM, Angela Stoecklein, vocalist
5:00 PM, EMMA JO & THE POETS DOWN HERE
8:00 PM, JEFF WOOD
9:00 PM, THE ELDERS
Live and on stage, America's best Celtic Rock/Folk band & they herald from the heartland. Bring your lawn chairs.
SATURDAY, JULY 19
8:00 AM, The fun begins all over again with an ANTIQUE CAR SHOW followed by Lee's Summit's very own "Top of the Summit" talent contest for local singing idols.
11:00 AM, TOP OF THE SUMMIT talent contest...click here for entry info
1:15 PM, KC STRUT
2:15 PM, TRAMPLED UNDERFOOT
3:30 PM, AZ-UR BAND
4:45 PM, DRIVE 13, KC Chiefs Locker Room
Show Band
6:00 PM, PHIL ANCONA, vocalist
7:00 PM, JEFF WOOD
8:00 PM, TOP OF THE SUMMIT FINALS
9:00 PM LIVERPOOL arrives! Don't miss this opportunity for a night full of Beatles music and memories.
Please, NO Coolers and NO pets.
Strotherfest will take place at: Holy Spirit Catholic Church grounds 1800 SW 150 Highway Lee's Summit, Missouri 64082
This announcement brought to you by David Nichols and The Nichols/Ersery Home Team, Serving Lee's Summit and the surrounding communities.
I just helped prevent 5 homes from going to foreclosure!
I CAN HELP YOU but, you must call me before it is too late. THIS IS NOT A SCAM!
Are you behind on your mortgage payment?
Do you owe more than your home is worth due to declining home values?
Is the possibility of foreclosure becoming a reality for you?
Have you thought about selling your home but just cannot make it happen when you add the REALTOR fees and closing cost into the picture?
If you answered yes to any or all of these questions, you may want to consider a SHORT SALE.
If the Mortgage Balance you owe, combined with the selling fee's, exceeds the price you can reasonably expect to receive, a short sale may be able to help you.
Although a short sale will adversely affect your credit, it is SUBSTANTIALLY better than a foreclosure.
David Nichols is your local short sale expert.
DON'T DELAY!
The sooner you start the process, the better off you will be. David has helped many families in this situation but quick action is the key.
David will contact the Lender on your behalf, and begin the process negotiating with them to accept a short sale.
He may be able to get the lenders to pay the Realtor Fee's, Closing Costs, and forgive any deficiency you have in the mortgage balance.
Your lender DOES NOT WANT TO FORECLOSE on you, but they will unless you act.
Once David gets a "Green Light" from your lender he will list the home and place it in the Nichols/Ersery Home Team's "Fast Acting" Marketing program. David will work with you and your lender to get the home sold.
If you are falling behind and cannot pay your mortgage, WE CAN HELP!
We offer a no cost or obligation consultation.
David Nichols
816-536-1334
DN@mykchometeam.com
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved