Statewide market statistics for August 2021 are in, and numbers are beginning to trend in a positive direction. “Realtor.com®’s August housing data release reveals the housing market is continuing to normalize as newly listed homes skew smaller and more affordable and sellers are beginning to price more competitively through an increased share in price reductions.” However, it is important to note that on a national level, homes continue to sell more than two weeks faster than the previous year.
Here are the numbers behind the August 2021 marketplace in Missouri.
- Home sales in the state of Missouri increased since last August. Missouri REALTORS® sold 9,623 residential properties. This was a 9.3% increase from the previous year’s numbers.
- Of those sales, the average residential property sold for $262,780. Compared to the average sale price in August 2020, there was a 10.1% increase.
- The median residential sale price also grew substantially to $225,000. This is a 13.9% increase.
- In terms of dollar volume, Missouri REALTORS® saw an increase of 20.4%. Over 2.5 billion dollars was generated in August of this year.
From a national perspective, REALTORS® across the United States experienced similar trends. According to the August 2021 Monthly Housing Market Trends Report, “The inventory of homes actively for sale in August decreased by 25.8% over the past year, a lower rate of decline compared to the 33.5% drop in July. A deceleration in the decline of inventory means the market is heading in an encouraging direction, but active inventory still remains historically low.”
“This decline amounted to 223,000 fewer homes actively for sale on a typical day in August compared to the previous year. The total number of unsold homes nationwide–a metric that includes active listings and listings in various stages of the selling process that are not yet sold– is down 13.8% percent from August 2020.”
For additional insight on Missouri’s August 2021 market statistics, be sure to watch our video breakdown!