What's Happening With The Real Estate Market?
The most frequently asked question I receive is, 'How's the market?' The answer is constantly changing and depends on what you are trying to accomplish. Are you selling, buying, investing, or renting? The market changes depending on the time of year, the economy, the city, the zip code, and even the neighborhood down to a specific street - and my answer will change based on your specific area of interest.
The real estate market shifts constantly and people's needs and interests vary widely, reach out for market data that is specifically focused on what you are trying to achieve!
As Of March 14th, 2025, Mortgage Rates Have Declined 7 Weeks In A Row
What this means for buyers and sellers:
If you're a home buyer, this could be the window you've been waiting for. Lower rates increase your purchasing power, meaning you can afford more home for the same budget. For home sellers, this drop could bring more buyers back into the market, increasing demand for your home. Read more about declining interest rates here.
Missouri Home Prices Are Up 56.4% Since 2019
According to the latest data from FHFA, home prices across Missouri jumped 56.4% since 2019. Yep, you read that correctly - 56.4%! That's a huge jump compared to the typical annual increase of 2-5%. Read more about Missouri home prices here.
Lee's Summit Current Real Estate Statistics
| Average Price | $299K |
|---|---|
| Lowest Price | $32.5K |
| Highest Price | $650K |
| Total Listings | 48 |
| Avg. Price/SQFT | $195 |
Property Types (active listings)
Next up is the most recent data for the city of Lee's Summit. Data is always pulled on the last day of the previous month and will give you a decent overview of what is happening in our great city. Note: we had a unusually cold winter, and the latest stats reflect that. The Lee's Summit market is rapidly picking up even before we've hit spring.
P.S. - do you live outside of Lee's Summit? Click here to view the data for YOUR specific city!
Helpful Articles & Resources
I write meaningful, helpful content for home buyers and sellers several days a week! It's my job to stay on top of what's happening in the market and share that information with you. View helpful articles below.
Avoid Homebuyer Heartbreak: Why Mortgage Pre-Approval Matters
Suppose you're thinking about buying a home in Kansas City, Lee's Summit, or anywhere in the metro area. In that case, one step you absolutely should take before you start scrolling through listings online is to get pre-approved for a mortgage.
Skipping this step is like walking into a car dealership without…
Hi! I'm Merla Turner, owner of Great Missouri Homes and a local Kansas City area Realtor. I am passionate about all things Lee's Summit—this beloved city is where my family and I do life! Thank you for reading this article. If you have any questions, suggestions, or ideas, call me at 816-328-2887 or fill out the contact form below. And remember - when it's your turn to buy or sell real estate in Lee's Summit, turn to Merla Turner!
Questions? Contact Great Missouri Homes: