Spring 2024 Market Report

MARKET REPORT KANSAS CITY RESIDENTIAL REAL ESTATE

Follow Your Dream, Home.

Introduction Engel & Völkers Kansas City welcomes you to its Biannual Real Estate Market Report. On-the-ground intel from community experts along with local market data informs our analyses and serves as the basis for forecasting trends and providing data-based insights into the constantly shifting housing market.

Throughout the year, and on an ongoing basis, we evaluate sales listed in the Multiple Listing Service, local Home Builders Association permit reports, city data, national stats and local economists, resulting in a residential market report for the Greater Kansas City Area.

*Information and figures based on data from Heartland Multiple Listing Service unless otherwise noted.

Data is for informational purposes only and may not be completely accurate due to the MLS reporting processes. This data reflects a specific point in time, and cannot be used in perpetuity due to the fluctuating nature of markets.

DREAMS & DESIGN BUILDING

Published January 2024

DREAMS & DESIGN BUILDING

Table of Contents

National Overview

6

Greater Kansas City Overview

8

Leawood, KS

10

Lenexa, KS

12

Olathe, KS

14

Overland Park, KS

16

Shawnee, KS

18

Blue Springs, MO

20

Lee's Summit, MO

22

Liberty, MO

24

Parkville, MO

26

Raymore, MO

28

A Recap of our KC Fall Parade of Homes Gold Winners

30

Engel & Völkers Kansas City

31

National Overview 2023 was a daunting year for many home

With approximately two-thirds of home owners

shoppers. Mortgage rates and residential real

currently at rates below 4%, a notable portion of

estate prices continued to surge, with average

possible sellers are opting to postpone their

monthly prices hitting record levels, making

buying and selling plans and wait for potential

home ownership unobtainable for many aspiring

lower rates.

homeowners.

In spite of these persistent inventory challenges, December 2023 was down 1% from November

most experts are expecting a busier home-

and 6.2% from December 2022. All together

buying season for 2024, while only a few believe

existing-home sales for 2023 fell to 4.09 million,

2024 will remain sluggish due to many

a 28-year low, according to the latest monthly

homeowners who will not give up their current

National Association of Realtors (NAR) data. At

low rate mortgage, thus keeping a hold on

the same time, national average home prices

inventory and an upward pressure on home

continued to rise in 2023 to a record high of

prices.

$389,800.

Homeownership Rates in the U.S. Over a Twenty-Year Period by Percentage

65.7

65.8

65.4

65.1

20 21

64.8

20 20

63.7

64.2

63.8

20 17

64.0

20 16

65.2

20 15

65.4

10

20 14

66.0

20 13

66.5

67.2

20 12

67.5

20 10

67.8

20 09

68.9

69.0

69.2

68.6

68.3

15

68.0

20

5

*Figures based on information from US Census Bureau. 2022 figure is estimated at time of graph.

6

20 23

20 22

20 19

20 18

20 11

20 07 20 08

20 06

20 05

20 04

20 03

20 02

0

Average U.S. Mortgage Rates Over The Past Three Years 30 Year

8

6.66 6

5.26 3.80

4

3.00

2.87

2.87

6.37

7.05

7.26

6.40

6.59

5.62 5.96

5.87

5.56

4.88

4.45

3.08

6.51

15 Year

3.04 2

2.27

2.30

2.34

2.17

20 23 Q 4

20 23 Q 3

20 23 Q 2

Q 12 02 3

20 22 Q 4

20 22 Q 3

20 22 Q 2

Q 12 02 2

20 21 Q 4

20 21 Q 3

20 21 Q 2

Q 12 02 1

0

*Figures based on information from FRED Economic Data.

The most recent National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI), which tracks builder sentiment, rose from 37 to 44 in January 2024. A reading of 50 or above means more builders see good conditions ahead for new construction.

At the same time, new single-family building

$417,700 Q4 2023 NATIONAL MEDIAN HOME PRICE

permits managed to tick up slightly in December 2023—according to the latest data from the

*According to FRED Economic Data.

U.S. Census Bureau and U.S. Department of Housing and Urban Development (HUD).

7

Greater Kansas City Overview

Home values have and always will be hyper-local, tied to

a 30,000 increase over the first half of 2023. An

the local economy, area employer base, product

upward trend Kansas Citians will need to get used to as

availability, school ratings and more. With that said, the

inventory is projected to remain low for sometime.

positives here in the greater Kansas City area continue to out way the negatives.

We entered 2024 with about a month and a half of active supply, just over 3,000 active residential listings,

For the second half of 2023 we saw local home prices

ranging from an investor rehab/teardown special at

continue to climb, while inventory and the number of

30,000 to a lake front retreat at 12.6 million.

closed transactions, both had significant declines due to the lack of inventory.

In 2024, the main six metropolitan counties are anticipated

The average selling price for the six major metro

to

see

approximately

32,000

sold

residential homes, a 5% increase over 2023.

counties came in just under $362,000,

Greater Kansas City Single Family Home Sales For 2023 (Includes the following counties: Cass, MO · Clay, MO · Jackson, MO · Johnson, KS · Platte, MO · Wyandotte, KS)

Average Selling Price

Average Days on Market

Units Sold

Volume Sold

Overall List to Sale Price %

Sold Over $1 Million

New Construction Sold

New Construction Volume

$361,931

$5.1 Billion

1,384 8

34

101%

$794 Million

13,403

357

Highest KC Recorded Home Sales For 2023 No. 1

$5,000,000

Coming in first at $5,000,000 is the stunning 18317 Melrose Drive in Overland Park, Kansas. Nestled on 10 wooded acres backing into Wolf Creek. This reverse 1.5 story boasts soaring ceilings, wide planked floors and detailed walnut cabinets. Featuring 4 bedrooms and 5 bathrooms, and spanning across 8,074 square feet total.

No. 2

$4,850,000

Coming in second at $4,850,000 is 6708 Cherokee Lane, Mission Hills, KS 66208. This stunning single family residence inspired by Spanish architecture is located in the Indian Hills subdivision of Mission Hills. This hidden gem was built in 2013 and is 7,998 square feet, including 5 bedrooms and 7 bathrooms and private, gate access.

No. 3

$4,325,000

Coming in third at $4,325,000 is 220 South Shore Drive in Lake Winnebago, MO. This gorgeous hawaiian inspired property features 3 bedrooms and 3 bathrooms throughout 5,995 square feet of entertaining features such as a hidden wine cellar, tasting room and waterfall pool.

In conclusion, Kansas City real estate is experiencing a

destination for those looking to relocate or invest in

period of sustained growth and offers a range of

real estate. As the city continues to grow and develop,

opportunities for homebuyers and real estate investors

it’s likely that the demand for real estate in Kansas City

alike. With a strong job market, affordable housing, and

will only continue to rise, making it an excellent

a favorable tax environment, the city is an attractive

investment opportunity for years to come.

From the first meeting and initial walk thru, I knew

For us, it was critical to have professionals — that’s

I had made the right choice for customer care and

Engel & Völkers. Everything worked exactly as they

dedication. EV’s experience and professionalism in

planned -- the offers came when and how they

handling our listing was smooth throughout the

predicted. We sold for well above asking. We’ll

entire process with consistent feedback and help

stick with the Engel & Völkers brand -- they are

thru the closing which was so appreciated. I would

premiere above all the rest from our experience!

highly recommend them for any potential seller looking for a low stress and positive experience.

-Google Review

-Zillow Review

9

Leawood, Kansas

New Listings

Contracted

Sold

Average Sale Price

$834,339

$823,459

$721,347 $790,021

$703,501

$796,441

$808,581

$798,156

$717,675

'23 Q1

'22 Q4

Leawood market trends for 2023 indicate an increase of 3.2% in average selling price over 2022, with the average topping out at $796,066. Leawood saw a 21% decrease in the number of contracted homes in 2023 compared to 2022. In addition, overall sales volume came in at $416 million, about 22% lower than 2022.

237 87 84 100 163

'22 Q3

'22 Q2

184 144 176

0

237 207 163

'22 Q1

50

112 104 82

'21 Q4

118 102 135

100

198 186 157

150

141 159 188

200

199 155 192

250

260 216 211

300

'23 Q3

'23 Q4

'23 Q2

The five highest priced home sales in Leawood for 2023 ranged from $5.5 Million to just under $2.2 Million, with an average of $316 per square foot.

New construction sales volume decreased by about 33% to just over $25 million, with an average sales price up 2%, to a little over 1.3 Million.

The three Leawood neighborhoods with the highest number of transactions were Leawood Estates, Leawood and Leawood South.

Leawood New Construction Sales Volume 2011 - 2023 60,000,000

$51,295,184

50,000,000

$55,979,928 $42,357,976

$38,119,256

40,000,000

$35,427,195

30,000,000

$31,411,359

$34,041,812

$24,960,716

20,000,000

$15,287,982

10,000,000

$23,609,360

$17,565,405

$25,499,408

$8,040,920

0

'11

10

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

Leawood Neighborhoods with Highest Number of Sales Second Half 2023

#1 LEAWOOD ESTATES 40 SOLD AVG PRICE: $749,052 AVG SQ FT: 3,043 AVG PPSF: $246

#2

#3

LEAWOOD 24 SOLD AVG PRICE: $917,407 AVG SQ FT: 3,464 AVG PPSF: $265

LEAWOOD SOUTH 16 SOLD AVG PRICE: $516,206 AVG SQ FT: 2,765 AVG PPSF: $187

4

2 1

3 5

Top 5 Sales for Leawood in 2023 Rank Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

11541 Cherokee Court

Other

3.38 Acres

1.5 Stories

$5,500,000

16,921

$325

2

8416 Ensley Lane

Leawood

0.49 Acre

1.5 Stories

$3,541,525

9,068

$391

3

9250 Lee Boulevard

Highlands Creek

0.69 Acre

1.5 Stories

$2,200,000

8,082

$309

4

8703 Meadow Lane

Hallbrook

0.57 Acre

1.5 Stories

$2,275,000

7,720

$295

5

4215 W 113th Street

The Woods Estates

0.69 Acre

1.5 Stories

$2,200,000

8,472

$260

11

Lenexa, Kansas

$506,902

168 129 152

216 189 210

270 225 209

192 155 119

141 133 162

263 249

$461,789

162

289 218

100

204 175 151

150

170 176

200

$531,098

$451,371

$507,814

$552,017

$539,184

$500,151

300 250

Average Sale Price

141

350

Sold

133

$465,397

Contracted

301 263 249

New Listings

50 0

'21 Q4

'22 Q1

'22 Q3

'22 Q2

'23 Q1

'22 Q4

Lenexa market trends for 2023 indicate an increase of 12% in average selling price, with the average topping out at $531,369. Lenexa saw a 9% decrease in the number of contracted homes in 2023 compared to 2022. In addition, overall sales volume came in at $367 million, which is about 4% lower than in 2022.

'23 Q2

'23 Q3

'23 Q4

The five highest priced home sales in Lenexa 2023 ranged from $3.3 million to $1.6 million, with an average of $414 per square foot.

New construction sales volume increased by about 26% to $125 million, with an average sales price of $797,263, up from $755,136 in 2022.

The three Lenexa neighborhoods with the highest number of transactions were Four Colonies, Prairie View at Creekside and The Cedars.

Lenexa New Construction Sales Volume 2011 - 2023 140,000,000 120,000,000

$96,414,100

100,000,000

$65,310,915

60,000,000

$87,926,152

$76,199,328

$34,900,966

40,000,000 20,000,000

$125,170,332

$118,514,542

$106,375,097

80,000,000

$99,677,949

$99,204,592

$98,691,636

$46,888,265 $22,339,055

0

'11

12

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

Lenexa Neighborhoods with Highest Number of Sales Second Half 2023

#1 FOUR COLONIES 20 SOLD AVG PRICE: $264,660 AVG SQ FT: 1,605 AVG PPSF: $165

#2

#3

PRAIRIE VIEW AT CREEKSIDE WOODS 19 SOLD AVG PRICE: $668,766 AVG SQ FT: 2,813 AVG PPSF: $238

THE CEDARS 14 SOLD AVG PRICE: $435,925 AVG SQ FT: 2,740 AVG PPSF: $159

5 3 4 1 2

Top 5 Sales for Lenexa in 2023 Rank Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

21324 W 93rd Court

Timber Rock

0.42 Acre

Reverse

$3,319,000

5,230

$635

2

21209 W 94th Terrace

Timber Rock

0.60 Acre

Reverse

$2,672,000

5,500

$486

3

91323 W 93rd Court

Timber Rock

0.52 Acre

1.5 Stories

$1,855,051

4,106

$452

4

9713 Sunset Circle

Falcon Ridge Estates

0.67 Acre

1.5 Stories

$1,849,900

7,492

$247

5

9405 Edgemere Drive

Timber Rock

0.45 Acres

1.5 Stories

$1,650,000

6,563

$251

13

Olathe, Kansas New Listings

Contracted

Sold

Average Sale Price

$446,574

$449,491

$428,414

$458,604

$454,396

$479,258

$463,147

$478,453

'22 Q1

'23 Q1

Olathe market trends for 2023 indicate an increase of 4% in average selling price, with the average topping out at $468,844. Olathe saw a 12% decrease in the number of contracted homes in 2023 compared to 2022. In addition, overall sales volume came in at $275 million, which is about 12% lower than in 2022.

675 642 660

773

741 '22 Q4

'22 Q3

'22 Q2

'23 Q2

447 362 384 660

'21 Q4

628 509 537

0

517 474 382

200

413 353 499

400

681 598 773

600

741 705

800

492 809 532 590 781 621 575 427

$394,470

925

1,000

'23 Q3

'23 Q4

The five highest priced home sales in Olathe for 2023 ranged from $3 million to $2.75 million, with an average of $348 per square foot.

New construction sales volume decreased by about 12% to $275 million, with an average sales price of $662,940, up from $650,818 in 2022.

The three Olathe neighborhoods with the highest number of transactions were Boulder Hills, Havencroft and The Willows.

Olathe New Construction Sales Volume 2011 - 2023 $350,000,000

$311,037,637

$300,000,000

$275,895,132

$250,000,000

$185,629,393 $200,000,000

$143,184,048 $132,004,574

$150,000,000 $100,000,000

$208,415,161

$275,783,153

$269,455,273

$210,204,666 $188,820,640

$180,423,859

$145,082,897 $104,596,568

$50,000,000 $0

'11

14

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

Olathe Neighborhoods with Highest Number of Sales Second Half 2023

#1

#2

#3

BOULDER HILLS 24 SOLD AVG PRICE: $611,122 AVG SQ FT: 2,551 AVG PPSF: $240

HAVENCROFT 19 SOLD AVG PRICE: $608,161 AVG SQ FT: 2,285 AVG PPSF: $139

THE WILLOWS 17 SOLD AVG PRICE: $862,373 AVG SQ FT: 3,311 AVG PPSF: $260

1 3 2

4

5

Top 5 Sales for Olathe in 2023 Rank Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

27151 W 108th Street

Cedar Creek - The Reserve

1.03 Acres

1.5 Stories

$3,000,000

10,699

$280

2

27409 W 108th Street

Cedar Creek - The Reserve

1.55 Acres

1.5 Stories

$2,850,000

7,594

$375

3

10625 S Zarda Drive

Cedar Creek - Hidden Lake

0.91 Acre

Reverse

$2,440,000

5,245

$465

4

11774 S Mesquite Street

Timberstone Ridge

1.15 acres

1.5 Stories

$2,174,957

7,287

$298

5

12715 W 146th Street

The Willows

0.96 Acre

Reverse

$2,125,000

6,580

$323

15

Overland Park, Kansas

$523,978

714 623 706

498 880 475 547

$493,780

880 818 761

'22 Q1

$533,003

$530,232

608 534 461 877

'21 Q4

400

$542,418

$515,232

679

600

804 685 617

800

$424,641

682 783 896

1,000

$504,353

484 474

1,200

Average Sale Price

884 741 877

$460,321

Sold

152

Contracted

1165 1029 998

New Listings

'23 Q3

'23 Q4

200 0

'22 Q2

'22 Q3

'23 Q1

'22 Q4

Overland Park market trends for 2023 indicate an increase of 7% in average selling price, with the average topping out at $530,501. Overland Park saw a 16% decrease in the number of contracted homes in 2023 compared to that in 2022. In addition, overall sales volume came in at $1.3 billion, which is about 17% lower than that of 2022.

'23 Q2

The five highest priced home sales in Overland Park for 2023 ranged from $5 million to $2.2 million, with an average of $373 per square foot.

New construction sales volume decreased by about 15% to $276 million, with an average sales price of $871,651, up from $791,888 in 2022.

The three Overland Park neighborhoods with the highest number of transactions were Nall Hills, South Pointe and Chapel Hill.

Overland Park New Construction Sales Volume 2011 - 2022

350,000,000

$322,973,103

300,000,000

$230,445,770

$243,166,002

250,000,000

$215,957,429

$199,565,306

$258,505,155

200,000,000

$159,100,797

$146,164,654

150,000,000

$220,878,413 $183,870,258

$163,613,711

100,000,000 50,000,000 0

$98,180,027

'11

16

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

Overland Park Neighborhoods with Highest Number of Sales Second Half of 2023

#1

#2

#3

NALL HILLS 29 SOLD AVG PRICE: $370,591 AVG SQ FT: 1,850 AVG PPSF: $200

SOUTH POINTE 28 SOLD AVG PRICE: $508,949 AVG SQ FT: 2,250 AVG PPSF: $226

CHAPEL HILL 24 SOLD AVG PRICE: $702,981 AVG SQ FT: 3,120 AVG PPSF: $225

2

3

4 1 5

Top 5 Sales for Overland Park in 2023 Rank

Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

18317 Melrose Drive

Wolf Valley

10.13 Acres

Reverse

$5,000,000

8,074

$619

2

8835 W 175th Street

Other

12.06 Acres

1.5 Stories

$2,980,000

8,246

$361

3

16508 Bluejacket Street

The Farm at Garnett Hill

1.01 Acres

1.5 Stories

$2,860,000

7,439

$384

4

5255 Golden Bear Drive

5255 Golden Bear Drive

0.51 Acre

1.5 Stories

$2,300,000

8,808

$261

5

10785 W 192nd Place

Rockwood Falls Estates

2.08 Acres

1.5 Stories

$2,200,000

9,217

$239

17

Shawnee, Kansas Sold

Average Sale Price

0

'21 Q4

'22 Q1

'22 Q3

'22 Q2

284 264 256

175 100

$402,550

205 177 153 316

265 241

229 236

200

306

300

$434,379

$381,689

395 366 345

$369,820

295 242 316

400

395 366 345

$405,135

172 173 199

$376,141

'23 Q1

'23 Q2

'22 Q4

Shawnee market trends for 2023 indicate an increase of 7% in average selling price, with the average topping out at $428,075. Shawnee saw a 19% decrease in the number of contracted homes in 2023 compared to that in 2022. In addition, overall sales volume came in at $338 million, which is about 19% lower than that of 2022.

$438,827

$429,747

$422,481

190 158 165

Contracted

262 206 214

New Listings

'23 Q3

'23 Q4

The five highest priced home sales in Shawnee for 2023 ranged from $1.5 million to $1,175,000 with an average of $309 per square foot.

New construction sales volume increased by about 6% to $56 million, with an average sales price of $676,095, up from $621,946 in 2022.

The three Shawnee neighborhoods with the highest number of transactions were Canyon Lakes, Lakeview Estates and Woodsonia.

Shawnee New Construction Sales Volume 2011 - 2022 80,000,000

$76,643,326 $59,495,546

$55,617,716

60,000,000

$44,167,989 40,000,000

$52,765,077

$50,286,727

$45,221,430

$45,633,812

$53,626,794 $52,865,395

$56,118,856

$30,425,779 20,000,000

$14,445,714 0

'11

18

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

Shawnee Neighborhoods with Highest Number of Sales Second Half 2023

#1

#2

#3

CANYON LAKES 14 SOLD AVG PRICE: $651,651 AVG SQ FT: 2,941 AVG PPSF: $222

LAKEVIEW ESTATES 10 SOLD AVG PRICE: $507,550 AVG SQ FT: 3,643 AVG PPSF: $139

WOODSONIA 9 SOLD AVG PRICE: $430,972 AVG SQ FT: 2,712 AVG PPSF: $159

3

2

5 4 1

Top 5 Sales for Shawnee in 2023 Rank

Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

21505 W 80th Terrace

Bristol Highlands

0.36 Acre

2 Stories

$1,573,769

4,711

$334

2

6434 Mize Road

Other

5 Acres

Reverse

$1,200,000

8,346

$144

3

5033 Lewis Drive

Belle Meade Farms

2.78 Acres

1.5 Stories

$1,195,000

7,691

$155

4

7777 Gleason Road

Other

10.25 Acres

1.5 Stories

$1,175,000

4,183

$281

5

7131 Parkhill Street

Kenneth Estates

0.23 Acre

Reverse

$1,175,000

3,806

$309

19

Blue Springs, Missouri $331,999

179 169 198

236 266

'23 Q1

284 277 243

214 200 174

'22 Q4

318

$315,384

191 171 192

299 291

$316,664

$339,760

$319,039

252 291

235 243

200

$322,184

299

300

Average Sale Price

$311,517

$303,134

356

$296,010

Sold

216 213 202

400

Contracted

318

New Listings

100

0

'21 Q4

'22 Q1

'22 Q3

'22 Q2

Blue Springs market trends for 2023 indicate an increase of 3% in average selling price, with the average topping out at $326,580. Blue Springs saw a 6% decrease in the number of contracted homes in 2023 compared to that of 2022. In addition, overall sales volume came in at $288 million, which is about 7% lower than that of 2022.

'23 Q2

'23 Q3

'23 Q4

The five highest priced home sales in Blue Springs for 2023 ranged from $1 million to $719,900 with an average of $204 per square foot.

New construction sales volume decreased by about 9% to $46 million, with an average sales price of $439,357, up from $413,444 in 2022.

The three Blue Springs neighborhoods with the highest number of transactions were Cambridge Park, Keystone Estates and Lake Village.

Blue Springs New Construction Sales Volume 2011 - 2023 80,000,000

$72,674,199

60,000,000

$64,855,408 $39,236,376

$50,453,745

$36,603,229

40,000,000

$29,317,117

$46,132,453

$45,839,314 $41,702,806

$14,073,416

20,000,000

$7,946,807

$18,404,866

$12,663,106 0

'11

20

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

Blue Springs Neighborhoods with Highest Number of Sales Second Half 2023

#1

#2

#3

CAMBRIDGE PARK 18 SOLD AVG PRICE: $340,347 AVG SQ FT: 1,702 AVG PPSF: $200

KEYSTONE ESTATES 16 SOLD AVG PRICE: $233,228 AVG SQ FT: 1,599 AVG PPSF: $146

LAKE VILLAGE 14 SOLD AVG PRICE: $286,529 AVG SQ FT: 1,599 AVG PPSF: $139

3 1 2 4 5

Top 5 Sales for Blue Springs in 2023 Rank Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

29404 SE Moreland School Rd Moreland Hills

3.75 Acres

Reverse

$1,072,500

4,270

$251

2

4204 SE Willow Ridge Dr

Willow Tree

3 Acres

1.5 Stories

$865,000

5,801

$149

3

2714 NE Crestview St

Adams Pointe Village

0.34 Acre

2 Stories

$759,348

3,755

$202

4

817 SE Larue Street

Hoot Owl Ridge

0.31 Acre

1.5 Stories

$749,900

3,187

$235

5

8813 SE 1st Street

Chapman Farm - The Shores

0.26 Acres

Reverse

$719,900

3,954

$182

21

Lee's Summit, Missouri

633 615

705 546 650

516 451 403

477 475 538

$438,514

$402,788

600

400

$409,611

'22 Q2

'22 Q3

200

436 407 546 312

$407,775

793

800

$407,293

$434,965

$421,410

793

$378,037

'23 Q2

'23 Q3

392 586 362 534 410

$421,814

Average Sale Price

567 509 491

Sold

586 534 506

Contracted

339 304 422

New Listings

0 '21 Q4

'22 Q1

'22 Q4

Lee's Summit market trends for 2023 indicate an increase of 4% in average selling price, with the average topping out at $428,361. Lee's Summit saw a 6% decrease in the number of contracted homes in 2023 compared to 2022. In addition, overall sales volume came in at $737.6 million, which is about 14% lower than that of 2022.

'23 Q1

'23 Q4

The five highest priced home sales in Lee's Summit for 2023 ranged from $2.2 million to $1.5 million, with an average of $304 per square foot.

New construction sales volume decreased by about 6% in 2023 to $202 million, with an average sales price of $550,758, up from $544,034 in 2022.

The three Lee's Summit neighborhoods with the highest number of transactions were Raintree, Lakewood and Eagle Creek.

Lee's Summit New Construction Sales Volume 2011 - 2023 250,000,000

$216,331,444 $184,464,737

200,000,000

$202,678,987 $130,371,756

150,000,000

$103,744,917 $86,324,569

100,000,000

$60,713,830

$176,080,609 $130,307,795

$115,379,946

$101,134,936 $83,225,713

50,000,000

$37,073,181 0

'11

22

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

Lee's Summit Neighborhoods with Highest Number of Sales Second Half 2023

#1

#2

#3

RAINTREE 53 SOLD AVG PRICE: $420,116 AVG SQ FT: 2,820 AVG PPSF: $149

LAKEWOOD 44 SOLD AVG PRICE: $540,205 AVG SQ FT: 3,242 AVG PPSF: $167

WOODSIDE RIDGE 28 SOLD AVG PRICE: $697,776 AVG SQ FT: 2,892 AVG PPSF: $241

3 1 4

5 2

Top 5 Sales for Lee's Summit in 2023 Rank

Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

400 NW Lakewood Blvd

Lakewood

16 Acres

1.5 Stories

$2,200,000

8,099

$272

2

1201 SW Corinthian Lane

New Longview

0.50 Acre

1.5 Stories

$1,700,000

5,124

$332

3

4951 NW Canyon Road

The Canyon

1.58 Acres

Reverse

$1,550,000

4,697

$330

4

23700 Colbern Road

Other

4 Acres

Reverse

$1,524,000

5,023

$303

5

106 NW Ambersham Dr

Woodside Ridge

0.32 Acre

1.5 Stories

$1,524,582

3,864

$394

23

Liberty, Missouri New Listings

$329,163

Contracted

$315,382

Sold

$346,747

Average Sale Price

$345,426

$365,344

$360,412

$378,928

$349,919

$343,489

'21 Q4

'22 Q1

'23 Q3

75 73 83

90

'23 Q2

'23 Q1

'22 Q4

Liberty market trends for 2023 indicate an increase of 3% in average selling price, with the average topping out at $355,590. Liberty saw a 17% decrease in the number of contracted homes in 2023 compared to 2022. In addition, overall sales volume came in at $150.7 million, which is about 16% lower than that of 2022.

131 111 134

0

155 130 116

50

128 113

160 151 156 '22 Q3

72 83 105

152 163 '22 Q2

100

118 119

100

149

150

140 126

194

200

'23 Q4

The five highest priced home sales in Liberty for 2023 ranged from $1.5 million to $900,000 with an average of $213 per square foot.

New construction sales volume decreased by about 26% to $13.5 million, with an average sales price of $503,265, up from $482,881 in 2022.

The three Liberty neighborhoods with the highest number of transactions were Clay Meadows, Canterbury and Liberty.

25,000,000

Liberty New Construction Sales Volume 2011 - 2023 $21,369,346

20,000,000

$18,349,496

$15,610,393 $17,184,474

15,000,000

$10,069,285

5,000,000

$2,964,868

'11

24

$13,617,330

$13,588,165

$7,186,582 $5,793,317

0

$10,149,449

$8,665,294

10,000,000

'12

$5,884,458

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

Liberty Neighborhoods with Highest Number of Sales Second Half 2023

#1

#2

#3

CLAY MEADOWS 14 SOLD AVG PRICE: $401,668 AVG SQ FT: 2,465 AVG PPSF: $163

CANTERBURY 12 SOLD AVG PRICE: $321,517 AVG SQ FT: 2,211 AVG PPSF: $163

WILSHIRE 9 SOLD AVG PRICE: $264,111 AVG SQ FT: 1,907 AVG PPSF: $138

5 2 3

1

4

Top 5 Sales for Liberty in 2023 Rank

Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

1700 Richfield Road

Other

22 Acres

1.5 Stories

$1,540,000

5,545

$278

2

824 Kings Ridge

Newtown Ridge

0.62 Acre

1.5 Stories

$1,132,470

5,545

$204

3

715 Westwoods Drive

Camelot

0.63 Acre

1.5 Stories

$965,000

8,726

$111

4

1804 Homestead Drive

Homestead

0.26 Acre

Reverse

$945,000

2,327

$406

5

316 Camelot Drive

Camelot

0.42 Acre

1.5 Stories

$899,000

4,225

$213

25

Parkville, Missouri Average Sale Price

$512,839

0

'21 Q4

'22 Q1

'23 Q1

'22 Q4

Parkville market trends for 2023 indicate an increase of 8% in average selling price, with the average topping out at $537,863. Parkville saw a 26% decrease in the number of contracted homes in 2023 compared to that in 2022. In addition, overall sales volume came in at $176.4 million, which is about 20% lower than that of 2022.

'23 Q2

62 60 63

72 '22 Q3

'22 Q2

73 65 88

110 107 122

153 161 143

90

125 130

115

54

50

75 85

100

$504,785

$486,515

$460,868 $404,452

$568,320

$489,912

200

150

$567,107

122 105 102

$530,774

Sold

72 73 75

Contracted

86

New Listings

'23 Q3

'23 Q4

The five highest priced home sales in Parkville for 2023 ranged from $2.8 million to $1.3 million, with an average of $314 per square foot.

New construction sales volume decreased by about 22% to $54.3 million, with an average sales price of $554,859, up from $486,049 in that of 2022.

The three Parkville neighborhoods with the highest number of transactions were Thousand Oaks, Riss Lake and Chapel Ridge.

Parkville New Construction Sales Volume 2011 - 2023 $69,991,042

70,000,000

$69,662,717

60,000,000

$45,065,002

50,000,000

$38,392,022

40,000,000 30,000,000 20,000,000

$23,319,760

$38,041,193

$51,951,766

$59,994,239

54,376,143

$44,705,8396

$26,868,929

$14,110,672

10,000,000

$12,726,945

0

'11

26

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

Parkville Neighborhoods with Highest Number of Sales Second Half 2023

#1

#2

#3

THOUSAND OAKS 29 SOLD AVG PRICE: $624,186 AVG SQ FT: 3,326 AVG PPSF: $188

RISS LAKE 15 SOLD AVG PRICE: $690,808 AVG SQ FT: 4,138 AVG PPSF: $167

CHAPEL RIDGE 13 SOLD AVG PRICE: $571,660 AVG SQ FT: 2,904 AVG PPSF: $197

3 1 2 4

5

Top 5 Sales for Parkville in 2023 Rank

Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

6995 N National Drive

The National

0.62 Acre

1.5 Stories

$2,800,000

7,690

$364

2

6446 N National Drive

The National

0.56 Acre

Reverse

$1,675,000

6,770

$247

3

Lot 11 Chateau Court

The National

1.1 Acres

Reverse

$1,590,899

4,560

$349

4

7300 NW Pampas Lane

Estates at Chapel Hill

1.16 Acres

Reverse

$1,588,617

4,070

$390

5

6420 Bunker Hill

The National

0.32 Acre

Reverse

$1,300,000

5,871

$221

27

Raymore, Missouri New Listings

$380,087

Contracted

$366,505

$352,916

Average Sale Price

$400,264

$375,025

$370,382

$359,663

$391,595

$382,982

50

0

'21 Q4

'22 Q1

'22 Q3

'22 Q2

'23 Q1

'22 Q4

Raymore market trends for 2023 indicate an increase of 6% in average selling price, with the average topping out at $386,296. Raymore saw a 19% decrease in the number of contracted homes in 2023 compared to that of 2022. In addition, overall sales volume came in at $136.7 million, which is about 23% lower than 2022.

107 93

'23 Q2

98 79 90

134

130 108 104

83 73 67

65 72

97

104 98 109

127 134 143

150

151 123 132

161 152

198

200

100

Sold

'23 Q3

'23 Q4

The five highest priced home sales in Raymore for 2023 ranged from $1.3 million to $875,000, with an average of $281 per square foot.

New construction sales volume decreased by about 26% to $30 million, with an average sales price of $536,581, up from $472,590 in 2022.

The three Raymore neighborhoods with the highest number of transactions were Edgewater at Creekmoor, Eastbrooke at Creekmoor, and Alexander Creek.

Raymore New Construction Sales Volume 2011 - 2023 60,000,000

$58,564,608

$53,527,971 $45,825,392

50,000,000

$45,094,629

40,000,000

$29,023,581

30,000,000

$15,265,321

$40,642,705

$32,836,572

$22,955,560

20,000,000 10,000,000

$43,199,703

$30,048,549

$19,323,890

$12,293,929

0

'11

28

'12

'13

'14

'15

'16

'17

'18

'19

'20

'21

'22

'23

Raymore Neighborhoods with Highest Number of Sales Second Half 2023

#1

#2

EDGEWATER AT CREEKMOOR 46 SOLD AVG PRICE: $569,631 AVG SQ FT: 2,798 AVG PPSF: $204

#3

EASTBROOKE AT CREEKMOOR 10 SOLD AVG PRICE: $380,967 AVG SQ FT: 1,560 AVG PPSF: $244

2

ALEXANDER CREEK 9 SOLD AVG PRICE: $343,633 AVG SQ FT: 1,737 AVG PPSF: $198

1 5

3 4

Top 5 Sales for Raymore in 2023 Rank

Address

Neighborhood

Lot Size

Style

Sales Price

Sq Footage

PPSF

1

1205 Edgewater Court

Edgewater at Creekmoor

0.67 Acre

Reverse

$1,348,923

3,614

$373

2

1204 Edgewater Court

Edgewater at Creekmoor

0.46 Acre

Reverse

$1,157,182

3,177

$364

3

1211 Granton Lane

Edgewater at Creekmoor

0.42 Acre

Reverse

$987,500

3,444

$287

4

1208 Lakecrest Circle

Edgewater at Creekmoor

0.35 Acre

1.5 Stories

$885,000

4,588

$193

5

1409 Kensington Lane

Edgewater at Creekmoor

0.48 Acre

1.5 Stories

$875,000

4,644

$188

29

A Recap of our KC Fall Parade of Homes Gold Winners ASHLAR HOMES Pick of the Parade

HOMES BY CHRIS Pick of the Parade

PCDI HOMES Pick of the Parade

AUTHENTIC HOMES Pick of the Parade

J.S. ROBINSON FINE HOMES Pick of the Parade & Distinctive Design (2)

ROB WASHAM HOMES Distinctive Design

C&M BUILDERS, INC. Pick of the Parade & Distinctive Design

JAMES ENGLE CUSTOM HOMES Pick of the Parade (5) & Distinctive Design (2)

RODROCK HOMES LLC Pick of the Parade (5) & Distinctive Design (3)

DCB HOMES Distinctive Design

JFE CONSTRUCTION Pick of the Parade & Distinctive Design

ROESER HOMES Pick of the Parade & Distinctive Design (2)

DON JULIAN BUILDERS, INC. Pick of the Parade (4) & Distinctive Design (3)

JW BUILD Distinctive Design

SAB CONSTRUCTION Pick of the Parade (7) & Distinctive Design (4)

DOYLE CONSTRUCTION COMPANY Distinctive Design

LAMBIE HOMES, LLC Pick of the Parade & Distinctive Design

STARR HOMES Pick of the Parade & Distinctive Design

DREAMS & DESIGN BUILDING Pick of the Parade & Distinctive Design

MOJO BUILT Pick of the Parade

SUMA DESIGN Pick of the Parade

ELEVATE DESIGN + BUILD Pick of the Parade & Distinctive Design

NEW MARK HOMES KC Pick of the Parade (2) & Distinctive Design

WILLIS CUSTOM HOMES Pick of the Parade & Distinctive Design

GARY KERNS HOMEBUILDERS Pick of the Parade & Distinctive Design

OWEN HOMES Distinctive Design

H&J CUSTOM HOME BUILDERS Pick of the Parade

PAULI HOMES Pick of the Parade

MOJO BUILT

30

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local team is there to guide and assist you.

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