Lees Summit appreciation rates and housing market information

Lees Summit housing market information

With 71,074 people, 27,392 houses or apartments, and a median cost of homes of $206,041, Lees Summit real estate is some of the most expensive in Missouri, although Lees Summit home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Lees Summit, accounting for 74.80% of the city's housing units. Other types of housing that are prevalent in Lees Summit include duplexes, homes converted to apartments, or other small apartment buildings (9.81%), large apartment complexes or high rise apartments (9.27%), and a few row houses and other attached homes (5.99%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Lees Summit. Owner-occupied housing accounts for 73.20% of Lees Summit's homes, and 70.77% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lees Summit built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lees Summit built from 1995 and later (19.82%). A lesser amount of the housing stock also hails from 1940-1969 (15.86%), and some were built from 1939 and earlier (15.86%).

Lees Summit home appreciation rates

Lees Summit's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lees Summit during the period has been just 5.10%, which is lower than % of US communities.

Over the last year, Lees Summit appreciation rates have trailed the rest of the nation. In the last twelve months, Lees Summit's appreciation rate has been -0.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lees Summit were at 1.01%, which equates to an annual appreciation rate of 4.04%.

Relative to Missouri, our data show that Lees Summit's latest annual appreciation rate is higher than 10% of the other cities and towns in Missouri.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lees Summit differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lees Summit - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Lees Summit real estate investment or home purchase decisions.