The rising sales prices coupled with lower days on market indicate Springfield has moved into a strong seller’s market. April continues the upward trend from 2015, April was the 4th month this year showing positive sales gains over 2015. The number of sold homes and pending home sales are both up double digit percentages over April 2015. This is resulting in a continued rise in sales prices and that is welcome news for home sellers.
Home sales in Springfield, MO continue to out perform last year’s sales numbers according to the Greater Springfield Board of Realtors Multiple Listing Service. The number of sold homes for April 2016 is up over 10% compared to April 2015. The average Days on Market continues to drop and is down to 93 days.
The number of total number of active listings in the month of April is down 4.5% over April of 2015, and the number of houses currently under contract is up a 25.4%. With total listings down and the number of houses under contract up, these are good signs for a strong housing market. I expect these trends to continue for the remainder of the year.
Year to Date Sales Stats
The year to date stats shown above, illustrate how strong the Springfield housing market has become. The number of sold listings year to date is up by an additional 128 homes sold over 2015. More home sales with shorter days on market indicate a strong Springfield housing market. With the days on market dropping and the number of homes selling on the rise, this is welcome news for anyone thinking of selling their home.
What Does This Mean for You?
With a strong sellers market in Springfield, this could be a great time to sell your home. Click here Home Value to get a free no hassle home valuation. Even if you are not looking to sell your home and are just curious, this is great information to have.
Thinking of Buying A New Home?
Does a strong sellers market make it a bad time to buy a new home? No, it is still a great time to buy a new home with interest rates still down. Prices in the Springfield market are on the rise so now is the time to buy. Homes are selling fast so be prepared to make an offer or risk missing out on your dream home. 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 Home Search
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
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