Well, 2016 is in the books and it turned out to be a great year to buy and sell a home in the Ozarks. Here’s our year-end review of the market. It’s got tons of information for you to analyze the market in 2016. Check it out!
The first month in 2017 started strong. Historically, winter months are not the most active time in the real estate market. Folks usually begin to think about listing their homes in the early Spring. This year, we saw some signs that countered that trend fairly significantly. Sales price started to rise a bit earlier than normal, more new homes were listed and lots more homes went under contract than in the year before.
Here’s a detailed look at the market by the numbers in Greene, Christian and Webster counties for the month of january. 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.
While inventory remains lower than last year, we’re seeing an increase in turnover rates. Homes are selling more frequently and more contracts are written in a shorter amount of time than in 2016. The total number of sales was on par with last year’s totals, despite around 250 fewer units on the market.
The median sales price ticked up in January, while the median list price dropped a bit. This is typical during the colder months. Overall home prices have steadily risen over the past few years, which is a great sign for sellers in the area!
A sharp increase in newly listed properties in the first month of the year look like a great signal to home buyers in 2017. With more homes on the market, buyers have a wider range of choices and can be more discretionary in their search. Inventory is still low compared to last year, but we hope to see this change as we move into the Spring. As of right now, it’s still a seller’s market.
Mortgage rates have begun to rise a bit over the past few months. The average rate in the area is now over 4%. This is still a fantastic rate when compared to the rates of the 1980s and other times in our country’s history. Let’s take a look at historical interest rates.
As you can see, rates are lower now than they have been in decades. Even with a slight uptick in rates, it’s still a great time to buy a home!