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 September!
Inventory is low in the Greater Springfield market at the moment. Our supply is currently at 2.6 months, down from 3.0 last month. This is a good sign for sellers because there are fewer homes on the market to offer competition. List prices are also high, making it a great time to list your home.
Median list prices spiked in September to nearly $175,000 in the Greater Springfield area. This figure tied yearly highs met over the past few months. The median sold price maintained its level from the past two months of the summer. Overall, it’s still a great time to list. Homes are selling very quickly and are selling for more than they have in the past.
As mentioned before, inventory is low. Fewer homes entered the market in September than have since winter. Still, nearly 650 new listings hit the market last month, so there’s still plenty of options if you’re out looking.
Interest rates have maintained their levels throughout the summer. They’re still hovering around 4%, depending on other factors. Rates are still as low as they’ve been in decades, making it a great time to secure a mortgage on a new home!