FOR IMMEDIATE RELEASE
MAY 24, 2022
COLUMBIA, MISSOURI – Missouri REALTORS® is pleased to share with you a monthly statistics report highlighting the Missouri real estate market for the month of May.
In May, Missouri REALTORS® sold 8,138 residential properties. This was a 1.3% decrease compared to May 2021. Of those sales, the average residential property sold for $289,511. Compared to the average sale price of $261,341 in May of 2021, this was a 10.8% increase. The median residential sale price also increasd by 13.2%, from $220,000 in 2021 to $249,000 in 2022.
In terms of dollar volume, Missouri REALTORS® saw an increase of 9.3% compared to the same period last year. Over $2.35 billion in May of this year was generated compared to $2.15 billion in May 2021.
Additionally, interest rates in May topped their highest level since 2008. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 5.23 percent compared to 4.98 percent in April. By comparison, the interest rate in May of last year was 2.96 percent.
Visit Market Statistics to view a full report of the data presented, including additional resources and information.
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Founded in 1936, Missouri REALTORS® is the largest trade association in the state serving over 25,000 members. As members of organized real estate, REALTORS® subscribe to a strict code of ethics and have access to numerous services and programs to enhance their professionalism within the real estate industry. Through collective strength, influence, and professionalism, Missouri REALTORS® unite to advocate for real property rights in Missouri, deliver comprehensive risk management programs and services, connect members through various media and events and deliver association management services.
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