Blue Book Monthly: August Market Report

September 1, 2017

The market continues to move at a break neck pace in the Ozarks. If priced right, homes are flying off the market in just a few days of being listed. Anything under about $300,000 seems to move quickly in the current state of the market.  Inventory remains lower than last year, which means it’s still more beneficial for sellers at the moment. Let’s take a closer look at the data for August!

THE STATISTICS BELOW ARE BASED ON INFORMATION FROM THE SOMO MLS IN GREENE, CHRISTIAN, AND WEBSTER COUNTIES FOR THE TIME PERIOD OF August 1, 2017 THROUGH August 31, 2017.  REPORT DATA GENERATED ON August 31, 2017.

HOUSING STOCK

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We’re still seeing very good numbers of homes under contract and homes sold, despite having fewer homes on the market than usual. It remains a very good time to list a home in the Greater Springfield area due to the limited inventory on hand.

MEDIAN LIST PRICE

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Home prices maintained it’s level from last month at a median list price of $170,000 which matches the high for the year.  The Median list price dipped a bit to $145,000.

NUMBER OF NEW LISTINGS ON THE MARKET THIS MONTH

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August slightly edged out the totals we say in July for new listings on the market.

CURRENT INTEREST RATES

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Mortgage rates have been a hot topic lately, with rumors of another increase swirling.  However, in April we saw a quarter percent decrease in rates across the board.  Locking down a rate at 4% is a great opportunity because of the speculation of rising rates.  Overall, the mortgage rates are still historically very low.  Since 1985, rates have decreased more than 13.5%.

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