The real estate market is cheerfully embracing the news that mortgage rates are finally seeing a decline. This shift, coupled with stabilizing home prices and increased inventory is a breath of fresh air for home buyers and sellers in the Ozarks. Let me know how I can serve you this Holiday Season. I wish you and your family a Merry Christmas and a Happy New Year!
The housing market in the Ozarks is stable, with mortgage rates dropping to a five-week low. Monthly home sales are consistent at around 500, against a backdrop of just over 1,000 homes listed, signaling a persistent seller's market. This equilibrium presents an opportune moment for those looking to enter the market as we approach the holiday season.
In the Ozarks, median home prices have dipped since Q2 but remain higher compared to Q3 of the previous year. The median price per square foot has shown a steady increase throughout 2023, reflecting ongoing demand and strength of the real estate market in the 417. August saw increased home sales, but activity slowed in September due to seasonal demand adjustments coupled with fluctuating interest rates. With inventory slowly rising, buyers are finding more choices to find that perfect home.
Welcome to your August Market Report! Median sale prices rose in August, underscoring a sustained demand for real estate in the Ozarks. Although days on market extended slightly, signaling balanced conditions, new listings hitting the market in August decreased compared to July. The good news is that inventory still rose in the month of August, which means we are moving toward a more balanced market. If you’re curious about your home’s value in today’s market, please contact me. I’m here for all your real estate needs!