COLUMBIA, Mo. – Missouri REALTORS® is pleased to share a monthly statistics report highlighting the Missouri real estate market for the month of June; including market results for the entire second quarter of 2019.
Over 8,100 homes were sold in Missouri during the month of June. The total sales volume topped $1.8 billion, and homes sold at a consistent pace in June, staying on the market for an average of 47 days. That’s one day more when compared to June 2018. The median sales price continues to increase and was approximately $185,000. That is an 8.80 percent increase compared to June 2018.
Additionally, interest rates decreased in June. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 3.80 percent in June from 4.07 percent in May. By comparison, the interest rate in June of last year was 4.57 percent.
Regarding 2019 second quarter results; over 23,000 homes were sold in Missouri from April to June. The total quarterly sales volume topped $4.9 billion, and homes sold at a slower pace during the second quarter of 2019, staying on the market three days longer than the same three-month period in 2018. The median sales price for the second quarter of 2019 increased 4.10 percent compared to the same three-month period in 2018, coming in at $177,000.