July 2015 Springfield, MO Quick Housing Market Report
Springfield home sales remain good through July according to the Greater Springfield Board of Realtors Multiple Listing Service. There are more qualified buyers in the market this year driving this rise in sales prices. The increased number of buyers coupled with the still low interest rates should allow the housing market to remain strong in the future. What does this mean for the value of your home? Visit our Home Valuation page find out.
The number of new listings and the number of houses currently under contract are both up by double digit percentage. The average list and sales prices are both up for July 2015 over July 2014. This indicates that prices are on the rise, and are all good signs for a strong housing market. I expect these trends to continue for through the end of this year.
Year to Date Sales Stats
Sold Listings: 1,935 (up 12.6% over same time period 2014)
Total Active Listings: 4.494 (up 4.8% over same time period 2014)
Average List Price: $175,370 (up 9.1% over same time period 2014)
Average Sold Price: $153,565 (up 6.9% over same time period 2014)
Average Days on Market: 88 (down 15.4% over same time period 2014)
The number of sold listings year to date is up by over 12%. Let me say that again, the number of year to date sold homes is up by over 12%. This is indicating not only a strong housing market, but an improving housing market as the year has gone along. The average list and sales prices are both up for July over the year to date numbers. These numbers indicate that the Springfield housing market has been steadily rising for a few months now. Welcome news for any one thinking of selling their home.
What Does This Mean for You?
With prices up and homes selling faster this could be a great time to sell your home. If you are wondering how these numbers have affected the price of your home visit http://realestate.bricedavis.com/idx/homevaluation for a free no hassle home valuation. Even if you are not looking to sell your home and are just curious, this is a great resource.
Thinking of Buying A New Home?
It is still a great time to buy a new as well. The housing market in Springfield appears to have turned upward a few months ago, but prices are still good and interest rates are still near historic lows. The banks are loaning money, and there are a lot of great loan programs designed to help you afford the home you have always wanted.
To find your new home visit our Advanced Search page to view the listings.
As always, if you have any specific questions about the market or if you need help buying and/or selling real estate in the Springfield area, let me know; I would love to hear from you.
Brice@BriceDavis.com or 417-693-3254