Lee’s Summit housing permits rebound

The Kansas City StarFebruary 28, 2014 

Two year-end reports on the local housing industry indicated 2013 was a good year for residential real estate in Lee’s Summit and the area.

Permits for single-family home construction broke the 4,000 mark in December for the first time since 2007, ending the year at 4,087 permits, up 24 percent from 2012, according to the Home Builders Association of Greater Kansas City. On the multifamily front, permits for 2,879 apartments and condos were issued in 2013, up 62.2 percent from the previous year.

"We crossed the threshold of building 4,000 homes last year, and that's cause for the local economy to celebrate, " Sara Corless, executive director of the Home Builders Association, said in a statement Tuesday.

Kansas City, primarily because of strong growth in its Northland subdivisions, reported the largest number of single-family permits last year, 675. It was followed by Olathe, 528; Overland Park, 422; Lee's Summit, 334; Lenexa, 217; Platte County, 181; Shawnee, 153; Kansas City, Kan.-Wyandotte County, 144; Blue Springs, 139; and Leawood, 119.

Realtors also reported a strong end to the year, with the average sales price of an existing home hitting $172,976 in December, up 9 percent from a year ago, and the price of a new home reaching $357,330, up 3 percent from December 2012.

The Kansas City Regional Association of Realtors also said 1,858 existing homes were sold in December, up 2 percent from 2012, and 206 new homes were sold, down 6 percent from December 2012.

The new-home inventory was 21 percent higher than a year ago with 1,301 on the market. The supply of existing homes on the market dropped 6 percent to 9,106.

The Realtors reported there was a 4.1-month supply of existing homes in December, making it a seller's market. There was a 6.1-month supply of new homes, making it a balanced market favoring neither buyers nor sellers.

Lee's Summit Journal is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service