Home prices have finally started to stabilize in the Ozarks after a year of ups and downs in response to rising interest rates. Median home prices peaked alongside inflation in 2022 at $265,000, and then saw a slow and steady decline for the remainder of the year as the Fed increased lending rates to curb inflation.
Moving into 2023, median home prices turned upward as buyers and sellers got used to rates hovering around 5.5%—still nearly a percent lower than the 30-year historical average. With approximately 600 homes on the market in Greene, Christian, and Webster counties, we’re still well short of the needed 2000+ homes that are necessary for a balanced market. With home prices and mortgage rates stabilizing alongside a lower inventory of homes available, we’re expecting a more balanced market where both buyers and sellers have unique advantages to make their next move.
30-Year Historical Mortgage Rates Average
30-Year Historical Median Sales Price
No one loves the Ozarks more than Murney Associates. Our real estate agents are here to help you navigate one of the most important decisions you’ll make. We encourage you to look at our market updates which highlight real estate trends in Springfield, MO, and the surrounding area, as well as our rankings in home sales. Thanks to our clients for making Murney Associates, Realtors the number one real estate agency in Southwest Missouri.