The housing market in in the Ozarks is growing so far in January 2016. At this point last year, our market had 53 fewer homes under contract and 64 fewer homes sold. If 2015 is any indication of the market this year, it should be an excellent market for both buyers and sellers. The Murney Blue Book will cover the happenings of the market here in the Ozarks. We’ll keep you in the loop on everything you need to know about the state of the market.
If you’d like to know more about your home specifically, contact one of our agents to find the current value of your home and if you don’t have an agent click Contact Us on Murney.com and our eBusiness department will be more than happy to put you in touch with a Murney Agent that best fits your needs.
THE STATISTICS BELOW ARE BASED ON INFORMATION FROM THE SOMO MLS IN GREENE, CHRISTIAN, AND WEBSTER COUNTIES FOR THE TIME PERIOD OF JANUARY 1, 2015 THROUGH JANUARY 31, 2016. REPORT DATA GENERATED ON FEBRUARY 10, 2016.
A 13% month over month increase like we saw in January 2016 is an encouraging trend for the real estate market. Buyers should have plenty of options in the Spring and Summer months.
In January 2015, our market had 5 months of inventory on hand. This year that number has dropped to 3.8 months of inventory available. When inventory is low, it can be a very good time to list a home. Less competition on the market can mean quicker sales.
AVERAGE MEDIAN LIST PRICE
The average median sale price saw a healthy 6.4% jump in January. Cost of housing in our area remains one of the best in the nation. Springfield specifically ranked in the top 40 in lowest cost of housing in the country. Homes are selling for more money recently, but are still a great value for potential buyers.
NUMBER OF HOMES SOLD
The number of homes sold in Greene Christian and Webster counties also saw a significant increase year over year. January of this year saw a nearly 17% increase over January of last year in number of homes sold. With notable gains in October and December over the previous year, the total number of homes sold in this time period is a great indicator for the real estate market in 2016.
NUMBER OF NEW LISTINGS ON THE MARKET
In January, we saw a sharp increase in the number of number of new listings on the market compared to the month previous. 400 new listings were added to the MLS in December of 2015. 717 came on the market last month, an increase of 45%!