The market in Southwest Missouri continues to be solid. For the past 6 months, we’ve seen steady increases in almost every metric we use to measure the success of the real estate market. April of this year was the only month in the past two years that saw more homes go under contract than in June. It was a good month for both buyers and sellers. July shows all indications of maintaining the steady pace we’ve seen over the past 6 months.
Here’s a detailed look at the market by the numbers in Greene, cheap jerseys Christian and Webster counties for the month of June. If you’re looking to get into the market, give us a call at 417-823-2300 or email us at email@example.com.
Inventory is at a 3 month supply right now, which is higher than it has been since February of this year. While it is still below June of 2015, the increase in inventory is a good sign for buyers. Also in June 734 homes went under contract, which ranks as the second highest total in the past two years of data. We also saw an increase in the number of homes sold over 2015.
The median list price increased by an impressive 7% over May, finishing up at $176,778. The median sale price also increased to $146,000, making an increase of nearly 15% since the beginning of the year. Both median list price and median sale price are at the highest rate in more than 3 years.
For the first time in more than six months, fewer homes sold than in the previous year. June of 2015 was the highest single month of home sales in that year, so the numbers would have had to have been spectacular to surpass them. However, June of this year is the highest selling month so far in 2016.
101 fewer new listings came onto the market in June, but a total of 965 new listings is nothing to sneeze at. It still ranks as the third most of the year to date.
Interest rates have stayed low. Despite rumblings that the Fed will raise rates this year, we haven’t seen any significant changes so far. Now is a good time to act if you’re considering making a move. While we may not know the exact state of interest rates, we can be relatively certain that they won’t be lowering them. Get in while the rates are low!