2019 SWMO Real Estate Market Report

Dated: 10/02/2019

Views: 84

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

KidFriendly DIY 10 Projects Sure To Inspire Summer Fun

Summertime is on, and the kids are out of school. Every mom knows that for these three months it's more important than ever to keep the kids busy. But you don't have to schedule your life away with

Read More

Deck Out Your Patio For Summer

Deck Out Your Patio for Summer Your outdoor space will be ready for a decadent staycation or lively entertaining with these budget-friendly tips. You’ve got your sunscreen out, your

Read More

How To Be Competitive In A Bidding War

One of the most stressful situations in home buying occurs when other buyers are competing for the home you want. To make an offer on the perfect house only to find out you have entered a bidding

Read More

Best Float Trips 417

WaterwaysBEST FLOAT TRIPS IN THE OZARKSExplore 10 scenic float trips that can only be enjoyed in the Ozarks. Find tips for floating the Big Piney River, Jack's Fork, Current River, James River,

Read More