<body><div>In a recent column, we explored how two Lee’s Summit ZIP codes, 64063 and 64064, were performing in today’s housing market. Despite facing the same mortgage rates and economic conditions, homes in these neighboring areas weren’t necessarily selling at the same pace.<figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=4V70B1_1GutAV8200" alt="https://img.particlenews.com/image.php?url=4V70B1_1GutAV8200" width="1287" height="1609" ><figcaption>Mike Maksin, The Hern Group/KW</figcaption></figure>That got me thinking. What if we looked beyond the current market and examined how these two areas have performed since 2020?So, I dug a little deeper.Using third-quarter home sales from each year between 2020 and 2026, I focused on established single-family homes, excluding properties built within the previous two years to help minimize the influence of new construction.The results were in line with what I have been experiencing.In 64063, the median selling price of established homes increased from approximately $230,000 in 2020 to $350,000 in 2026. That’s an increase of more than 52 percent.In 64064, the median climbed from approximately $362,000 to $539,000, an increase of nearly 49 percent.Two different markets. Remarkably similar long-term results.But prices tell only part of the story.Across these two ZIP codes, as well as the surrounding Lee’s Summit areas I studied, fewer homes are changing hands today than six years ago. Homes are also generally taking longer to sell than during the extraordinary market conditions of 2021 and 2022.Yet home values, as measured by median selling prices, have remained remarkably resilient.Does that mean every home has appreciated by 50 percent? Of course not. Every home and neighborhood is different, and median prices reflect the properties sold during a particular period.My takeaway? Lee’s Summit continues to demonstrate the characteristics of a solid housing market. The pace may have changed, but the long-term fundamentals have held up well.Whether you’re buying, selling or simply enjoying your home, don’t let national headlines tell the entire story.Real estate is local. And knowing what’s happening in your own neighborhood makes all the difference.Know your numbers. Then make your decision.ContactMike Maksin, Realtor, Keller Williams Platinum Partners</div></body>

Block Source: link2leessummit.com

Misinformation

Clickbait

Old or repetitive news

Explicit content

Location not relevant

In a recent column, we explored how two Lee’s Summit ZIP codes, 64063 and 64064, were performing in today’s housing market. Despite facing the same mortgage rates and economic conditions, homes in these neighboring areas weren’t necessarily selling at the same pace. That got me thinking. What...

A tale of two ZIP codes, six years later

NewsBreak

In a recent column, we explored how two Lee’s Summit ZIP codes, 64063 and 64064, were performing in today’s housing market. Despite facing the same mortgag

A tale of two ZIP codes, six years later

Comments