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October 2020 Market Statistics

By Missouri REALTORS posted 11-24-2020 01:15 PM

  
Statewide market statistics for October of 2020 are in, and the numbers don’t lie. It was an exceptional month. In comparison to October 2019, Missouri REALTORS® have sold more houses at higher prices, thus bringing in an extraordinary amount in dollar volume. Across the board, our market statistics reveal significant growth. Let’s break these statistics down.

  • Home sales in the state of Missouri experienced impressive growth since last October. Missouri REALTORS® sold 8,553 residential properties. This was a 20.9% increase compared to October 2019. 
  • Of those sales, the average residential property sold for $241,530. Compared to the average sale price of $201,544 in October of 2019, there was a 19.8% increase. To put that into perspective, there was only a 3.0% increase from 2018 to 2019.
  • The median residential sale price also grew substantially, from $172,000 to $200,000, a 16.3% increase. Again, in contrast, there was a 6.8% increase from 2018 to 2019.
  • In terms of dollar volume, Missouri REALTORS® saw an impressive increase of 44.9%. That’s right, 44.9%. We brought in over 2 billion dollars compared to the 1.4 billion dollars in 2019. 

    These exceptional numbers are worthy of celebration. 

    And, if you look at the industry from a national level, you’ll see that REALTORS® all over the country are experiencing similar positive trends. For one thing, we are not seeing the typical market slowdown that begins in October. According to realtor.com’s Housing Trends Report, national market statistics soared compared to the previous year and exceeded expectations.  

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