April was another month of significant gains in the real estate market in Southwest Missouri.   We’re seeing homes sell faster and for more money than in previous months.  The year over year gains are also significant.  It is a seller’s market right now.  Inventory is low, meaning there is less competition on the market for listings.  Prices for sold properties continue to increase due to this inventory shortage.

Here’s a detailed look at the market by the numbers in Greene, Christian and Webster counties for the month of April.  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 April 1, 2015 through April 31, 2016.  Report data generated on May 2, 2016.

Housing Stock

While there are 259 fewer homes for sale, a larger percentage of the homes available have been sold or have gone under contract.  In 2016, the amount of homes under contract increased by 19%, while the number of homes sold increased by 13%.  Currently the market is operating at a 2.5 month supply of homes, a decrease of 32%. This bodes well for new sellers on the market.

Median List Price

April posted gains in both median list prices and median sale prices for the sixth month in a row.  Both list and sale median increased by around 5% last month.  Since November of 2015, the median sale price has increased by 26%!

Number of Homes Sold

In April, we saw 65 more homes sold than in March, a much larger gain than April to March in 2015.  Homes sales increased in number for the fourth month in a row.  In April 221 more homes sold than in January. The market continues to improve as we move into the summer months.

Number of New Listings on the Market

The real estate market tends to heat up with the weather, and 2016 is no different than years previous.  977 new listings hit the market in April, steadily increasing from March.  The number of new listings on the market has increased in each of the last five months.

Current Interest Rates