2019 SWMO Real Estate Market Report

Dated: 10/02/2019

Views: 68

OCTOBER 2, 2019

The summer heat carried over to the third quarter in the real estate world, keeping up a steady, reliable pace for home buyers and sellers. Inventory is still low, making it a great time to list and a fast paced market for buyers. In the second quarter of 2019, we said it was the best time this century to sell a home and not much has changed. Home prices have decreased a bit since the peak of the summer, but are still close to the highest numbers from 2018. Plus, they’re still selling quickly when priced accurately. With interest rates well below 4%, it is still a fantastic time to invest in real estate. Let’s take a look at the numbers for Greene, Christian and Webster counties for residential properties from July to September!

 

Screen Shot 2019-10-01 at 3.36.13 PM

We experienced strong numbers in homes under contract and closed all throughout the third quarter. Both July and August were fast paced, with September slowing a bit. Prices reached a yearly high at $180,000 in July, evening out at around $165,000 in the final two months of the quarter.

Screen Shot 2019-10-01 at 3.36.24 PM

 

Screen Shot 2019-10-01 at 3.38.47 PM

Federal interest rates dropped even further than most folks predicted in the third quarter, hovering around 3.5% for a 30-year fixed rate and 3% for a 15-year. Last quarter we said it was the best time this century to sell a home and nothing has changed there. Now is a great time to lock in a low 30-year or 15-year mortgage.

 

Screen Shot 2019-10-01 at 4.57.31 PM

The average days on market dipped below a month for the first time this year in the three county area in July. As the weather grows colder, the days on market tends to grow, although at a steady pace, increasing 10 days in two months. A higher days on market is a good sign that the market is leveling out to allow for more inventory to become available.



Source: 

Associates, Murney. “2019 Q3 SWMO REAL ESTATE MARKET REPORT.” The Murney Blog, 2019, www.murney.com/blog/q32019/.

Blog author image

Michelle Cantrell

Michelle is a native of Southwest Missouri and has twenty-five years of experience in selling real estate in the greater Springfield area! Michelle specializes in all price points, including new const....

Want to Advertise on this Site?

Latest Blog Posts

Feb 7 2020 70290 1

If you are thinking of putting your house on the market in the Spring....well sooner might be better than later. We currently have buyers ready to shop! I'm talking about pre-approved, qualified

Read More

5 Must Do Things In Springfield Missouri

Take a bathroom selfie at Hotel VandivortHotel Vandivort is a boutique hotel in downtown Springfield, breathing with slick style and urban charm. Built in 1906 as a masonic temple, it offers

Read More

10 Amazing Commercial Real Estate Opportunities In Springfield

Attention entrepreneurs and business owners!We have some great commercial properties available right now that have great locations, unique architecture and historical significance in our city! There

Read More