The real estate market in the Ozarks continues to outperform the market from last year. It’s been a great year for sellers and buyers so far and July was no different. As we move nearer to the fall months, we can expect a slight decrease in activity, but for now, the market remains on a steady pace of growth!
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 murneyeteam@murney.com.
THE STATISTICS BELOW ARE BASED ON INFORMATION FROM THE SOMO MLS IN GREENE, CHRISTIAN, AND WEBSTER COUNTIES FOR THE TIME PERIOD OF July 1, 2016 THROUGH July 31, 2016. REPORT DATA GENERATED ON August 1, 2016.
HOUSING STOCK
While the overall number of homes on the market remains lower than its 2015 total, the number of homes under contract and homes sold has surpassed the totals we saw in 2016. The data shows an increase of 26.97% in homes that were placed under contract! It was a great month for sellers and buyers alike!
MEDIAN LIST PRICE
In July, the median list price dipped by about three thousand dollars, which is typical of this time of year. In each of the past two years, prices have started to decline as the fall months approached. We will likely see a similar trend in the market this year, but at a higher starting point. The median list price is more than 11% higher than it was in 2015 and the median sale price is nearly 7% higher than last year.
NUMBER OF HOMES SOLD
We saw 15 more properties sell in July of this year than in the year previous. Other than the month of June, the totals in 2016 have outpaced 2015 numbers in every month so far.
NUMBER OF NEW LISTINGS ON THE MARKET
New listings have declined modestly for the second consecutive month, but at 950 new listings last month, the market is still ripe with choices for buyers. The overall supply of homes on the market has risen every month since April of this year.
CURRENT INTEREST RATES
Interest rates remain unchanged from June and continue to be extremely favorable for home buyers. It’s a great time to take advantage of these low rates! It is very difficult to predict when or if rates will rise, so now is the time to act!
This post brought to you by Debi Murray – Offices of Patrick Murney