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Featured local agent — Lee's Summit, MO
Sarah Mitchell
Compass Real Estate · Lee's Summit, MO
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lee's Summit, MO Housing Market
The typical home in Lee's Summit, MO is worth $394,208, rose 1.3% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $430,000, +1.2% year over year (through May 2026). With 1.5 months of supply and homes going under contract in about 18 days, Lee's Summit is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $394,208 home is about $2,104/mo in principal and interest.
Key numbers for Lee's Summit, MO
Typical home value
$394,208
+1.3% in 12 months
Zillow, August 2026
Typical asking rent
$1,661/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$430,000
+1.2% year over year
Redfin, through May 2026
Days on market
18
Fast-moving
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Lee's Summit a buyer's or seller's market?
Lee's Summit, MO is a seller's market, based on 1.5 months of supply and homes selling in about 18 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Lee's Summit housing market data show?
Every row below is Redfin's final published month for Lee's Summit, MO. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $430,000 |
| Median list price | $424,000 |
| Year-over-year price change | +1.2% |
| Median price per sq ft | $181/sq ft |
| Median days on market | 18 days |
| Months of supply | 1.5 months |
| Homes sold (that month) | 169 |
| New listings (that month) | 195 |
| Listings with a price cut | 33.3% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Lee's Summit is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Lee's Summit is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Lee's Summit home prices moved?
Over the last three years the median sale price in Lee's Summit, MO rose 1.5%, from $423,750 to $430,000. The live Zillow value series has rose 1.3% in the last 12 months, which is the more current read now that Redfin's series has stopped. 33.3% of Lee's Summit listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Lee's Summit?
Priced off the typical home value of $394,208 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $78,842 | $315,366 | $2,104/mo |
| 5% | $19,710 | $374,498 | $2,499/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,104, that implies roughly $90,193 a year before you add taxes and insurance. We do not hold a Census income figure for Lee's Summit, so we cannot compare that threshold to local earnings.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Lee's Summit in the next 12 months?
Tell us your timeline. We send the Lee's Summit market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Lee's Summit?
Typical asking rent in Lee's Summit, MO is $1,661/mo, against a typical home value of $394,208. That is a price-to-rent ratio of 19.8x, which means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Compared head to head, 20% down puts principal and interest at $2,104 a month — $444 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Lee's Summit?
We hold fewer than two months of inventory readings for Lee's Summit, MO, so there is no trend to report yet.
How does Lee's Summit compare to Missouri and the U.S.?
Lee's Summit homes sell for $430,000 — 45% above the Missouri median of $297,500. Against the national median of $410,700, Lee's Summit runs 5% higher. Year-over-year, Lee's Summit moved +1.2% against Missouri's +4.6% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Lee's Summit, MO | $430,000 | +1.2% | 18 days |
| Missouri statewide | $297,500 | +4.6% | 27 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Lee's Summit
What buyers should watch
- Months of supply, currently 1.5. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 33.3%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $395 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $394,208 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Lee's Summit listing goes under contract in 18 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- In the last published month Lee's Summit added 195 new listings against 169 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +1.3% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Lee's Summit varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Lee's Summit
Explore homes currently listed for sale in Lee's Summit, Missouri across major real estate platforms.
How much do homes cost in Lee's Summit by property type?
How the Lee's Summit, MO market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $455,500 | $183/sq ft | 146 | 16 days |
| Condo / co-op | $217,500 | $162/sq ft | 5 | 35 days |
| Townhouse | $370,000 | $166/sq ft | 15 | 28 days |
Which cities are near Lee's Summit, MO?
Ordered by distance from Lee's Summit, not by size. Compare Lee's Summit side by side with any of them.
Lee's Summit housing market FAQ
Is Lee's Summit a buyer's or seller's market?
Lee's Summit, MO is currently a seller's market. That read comes from 1.5 months of supply, homes going under contract in about 18 days in the last month Redfin published (May 2026).
How much do homes cost in Lee's Summit?
The typical home in Lee's Summit, MO is worth $394,208 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $430,000, about $181 per square foot.
Is Lee's Summit cheaper than the rest of Missouri?
Lee's Summit's median sale price of $430,000 is 45% higher than the Missouri statewide median of $297,500, and 5% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Lee's Summit?
Homes in Lee's Summit, MO spent a median of 18 days on market before going under contract, versus 27 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Lee's Summit?
At the current 30-year fixed rate of 7.03%, 20% down on a $394,208 home is about $2,104 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $90,193 a year before taxes, insurance, HOA dues or mortgage insurance.
Are home prices rising in Lee's Summit?
The typical home value in Lee's Summit, MO rose 1.3% over the last 12 months, from $389,336 to $394,208 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Lee's Summit?
Lee's Summit ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Lee's Summit?
That depends on your timeline, not on a headline. What the data says today: Lee's Summit, MO is a seller's market with 1.5 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 19.8x means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Properties Incorporated publishes the data; it does not give financial advice.
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One email: what homes are actually clearing at around $394,208, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.