As the fall months descend on the Ozarks, the real estate market begins its seasonal downturn. Things slow down a bit in the colder months in most years, but we’ve still seen a steady increase over the total we saw in 2015, virtually across the board.
Here’s a detailed look at the market by the numbers in Greene, Christian and Webster counties for the month of July. If you’re looking to get into the market, give us a call at 417-823-2300 or email us at firstname.lastname@example.org.
Housing stock is one of the few totals that doesn’t surpass its total from 2015. We’re still running a bit under 2015 numbers of total listings available, but homes are selling more and going under contract more often this year. Our inventory may be lower than last year, but it’s still a good time to have a home on the market, because the turnover rate is so good right now and there is less competition.
Home prices dipped slightly in August from the solid numbers posted in June and July. We’re still seeing some great returns for sellers in the Greater Springfield area.
In August, we had a nice little bump from the same period in 2015 when it came to how many homes sold in Greene, Christian and Webster counties. This month, 66 more homes sold than in August of last year. This trend has been present for all but one months this year. June was the only month in 2016 so far that did not outpace 2015 sales numbers.
The number of new listings on the market continued its typical trend downward in August, landing at 832 new homes on the market. New listings reached a peak in May and have been slowly drifting back toward average numbers since that spike.
Interest rates are actually lower this month than they were in July. As concerns begin to swirl about an interest rate hike, we haven’t seen any indication of that occurring just yet. We’re expecting the FED to maintain it’s current rates more or less at least until the new president is elected.