FOR IMMEDIATE RELEASE
October 25, 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 September, including third-quarter results.
In September, Missouri REALTORS® sold 7,609 residential properties. Of those sales, the average residential property sold for $287,227. Compared to the average sale price of $265,715 in September 2021, there was an 8.1% increase. The median residential sale price also increased from $225,000 in 2021 to $243,000 in 2022.
In terms of total dollar volume, Missouri REALTORS® saw a decrease of 8.8 percent. Over 2.1 billion dollars in September 2022 was generated compared to 2.3 billion dollars for the same period last year.
Regarding third quarter results, 24,550 residential properties sold in Missouri from July to September. The total quarterly sales volume topped 7.2 billion dollars and homes sold at a consistent pace during the third quarter of 2022, staying on the market for 26 days. That is one day longer compared to the same three-month period last year. The median sales price for the third quarter increased eight percent compared to the same period in 2021, coming in at $243,000.
Additionally, interest rates in September saw continued growth. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.11 percent in September compared to 5.22 percent in August. By comparison, the interest rate in September 2021 was 2.9 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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