FOR IMMEDIATE RELEASE
February 20, 2024
COLUMBIA, MISSOURI – Missouri REALTORS® is pleased to share with you a monthly statistics report highlighting the Missouri real estate market for January 2024.
Missouri REALTORS® sold 3,969 residential properties in January. While mortgage rates remained slightly higher in January compared to the same period last year, the median sales price increased 6.8 percent, coming in at $234,900. The average residential sale price also increased 5.0 percent over January 2023 to $278,841.
The total dollar volume increased 9.4 percent in January compared to last year but saw a 22.6 percent decrease compared to December. Over 1.1 billion dollars was generated in January compared to 1.0 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 January was 6.64 percent. As of February 1, 2024, that rate was 6.68 percent. Compared to January 2023 (6.27 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.
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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.