2020 Real Estate Market Report

January 4, 2021

While it may be a year most would like to forget, 2020 did have a silver lining for those who bought and sold property in the Southwest Missouri area. It was a banner year despite the challenges we faced as a community and as a company. We relied heavily on technology to facilitate thousands of transactions, resulting in a new record for our company. Murney Associates, Realtors represented buyers and sellers in more than $1.4 billion of real estate transactions, the most ever for a company in our area. While inventory remained low throughout the year, many people had positive experiences selling homes quickly and effectively. Let’s take a closer look at the metrics to see why 2020 was a great year in real estate.


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Median home prices reached all time highs in 2020, topping out at just over $200,000 in July. Homes sold so fast and inventory remained so scarce that demand pushed prices to new heights, a great sign for sellers. Our market also saw highs in the number of homes sold with a record-setting 899 homes closed in July. It was a banner year for real estate sales in Southwest Missouri. Looking forward to 2021, we’re hoping to see an influx of new homes to sell which would help to even out prices and allow more options for those looking for a new home.

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Even casual fans of real estate in our area could tell you that homes sold quickly in 2020. 72% of homes sold faster than 30 days! From the beginning of the year, we saw a precipitous decline in days on market until the holidays settled in. It was a great year to be a seller!

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Mortgage rates fell for nearly the entire year, landing at around 2.6% for a 30-year fixed-rate mortgage. This is a new record low by far. Indicators suggest rates are due for a climb soon but it is difficult to say exactly when. Buying or refinancing in early 2021 will be a wise choice for many people.
Data gathered from MLS data for Greene, Christian and Webster counties for residential properties during the period January 1, 2020 to December 31, 2020.

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