Missouri Realtors recently released the monthly statistics report highlighting the Missouri real estate market for the month of September.
A total of 8,751 homes were sold in Missouri during the month of September. The total sales volume topped $2 billion, and homes sold at a faster pace in September, staying on the market for an average of 42 days. That’s eight days less when compared with September 2019. The median sales price was about $199,000. That is a 16 percent increase compared with September 2019.
Additionally, interest rates saw another slight decrease in September and continue to remain historically low. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 2.89 percent in September, down from 2.94 percent in August. By comparison, the interest rate in September 2019 was 3.61 percent.
Regarding third-quarter results, 27,167 homes sold in Missouri from July through September. The total quarterly sales volume topped $6.4 billion, and homes sold at a faster pace during the third quarter of 2019, staying on the market five days less compared with the same three-month period in 2019. The median sales price for the third quarter increased by 12.6 percent compared with the same quarter in 2019, coming in at $197,500.