FOR IMMEDIATE RELEASE
December 19, 2023
COLUMBIA, MISSOURI – Missouri REALTORS® is pleased to share with you a monthly statistics report highlighting the Missouri real estate market for November 2023.
Missouri REALTORS® sold 5,488 residential properties in November. While mortgage rates remained higher in November compared to the same period last year, the median sales price increased 4.4 percent, coming in at $242,250. The average residential sale price also increased 6.6 percent from last year to $294,477.
The total dollar volume increased 2.9 percent in November compared to last year; however, it decreased 8.3 percent compared to October. Over 1.61 billion dollars was generated in November compared to 1.57 billion dollars for the same period last year.
The Federal Reserve Bank of St. Louis reported the average 30-year fixed mortgage interest rate in November 2023 was 7.44 percent. As of November 30, 2023, that rate was 7.22 percent. Compared to November 2022 (6.81 percent), buyers continue to experience reduced purchasing power due to increased rates year over year.
Visit Missouri REALTORS® Market Statistics to view a full report of the data presented, including additional resources and information.
# # #
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.