November 2020 Market Statistics

By Missouri REALTORS posted 21 days ago

  
Statewide market statistics for November 2020 signal another impressive month for Missouri REALTORS®. Although sales and revenue started to decrease after October, this downfall typically occurs earlier in the fall season. This means that Missouri REALTORS® continued to sell more houses at higher prices compared to November 2019. Let’s break down the statistics.

  • Residential sales in the state of Missouri saw impressive growth since last November. Missouri REALTORS® sold 7,491 residential properties, a 24.9% increase compared to November 2019. 
  • The average residential property sold for $245,261. Compared to the average sale price of $201,813 in November of 2019, there was a 21.5% increase. To put that into perspective, there was only a 3.8% increase from 2018 to 2019.
  • The median residential sale price also increased substantially, from $170,000 to $205,000, a 20.6% increase. In contrast, there was only a 6.3% increase from 2018 to 2019.
  • In terms of dollar volume, Missouri REALTORS® saw an increase of 51.8%. We brought in 1.8 billion dollars compared to the 1.2 billion dollars in 2019. 

Overall, Missouri REALTORS® are selling the American Dream of homeownership at astounding rates and bringing in impressive revenue, despite seasonal challenges.

From a national point of view, you’ll notice similar market trends across the country. According to realtor.com’s Housing Trends Report, REALTORS® from California to Kansas to Maine also experienced this delayed seasonal downfall and, in turn, unprecedented November numbers. Specifically, the average American residential property remained on the market for 58 days in November, a 13 day improvement from last year. 

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