Missouri Association of Realtors Releases Statewide Home Sales Report

Feb. 9, 2012 - PRLog -- NEWS RELEASE         

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Missouri Association of REALTORS® Releases Statewide Home Sales Report


February 9, 2012 (Columbia, Missouri)  --  The numbers are in, and the Missouri Association of REALTORS® has released its statewide Home Sales Report for December,2011 including comparison of both Fourth Quarter and yearly totals to 2010 figures.

The Report shows that when comparing the statistical data from December 2011 with the numbers for December 2010:  

-   The number of Missouri homes sold in December increased year over year by 12%, from 3,723 home sold in 2010 to 4,171 homes in 2011.

-   Those homes took an average of 145 days to sell, which was up just slightly compared to the previous year.  

-   Price softness continues with the average selling price in December, down 5.4% from $139,172 to $147,059 as compared to December 2010.  

-   The median selling price – which is the price where half the homes sold higher and half sold for less – was $110,000

These figures show that buyers are realizing that it is a great time to purchase a home compared to last year, as continued price softening combined with historically low interest rates are making homes the most affordable they have been in years.


Fourth Quarter 2011 performance figures revealed the following:

-   The volume of Fourth Quarter homes sales in Missouri totaled 12,544, which was up nearly 10% compared to the Fourth Quarter of 2010.

-   Similar to the trend for December, it took a bit longer to sell a home, going from 138 days in the Fourth Quarter 2010 to 145 days in the Fourth Quarter 2011.

-   The average price of a home for the Fourth Quarter was $139,555, which is down 3.4% from $144,343 in the Fourth Quarter of 2010.

-   The median price for this same period was $111,625, which represented a smaller decrease as compared to the average price decline for the same period.

The Fourth Quarter 2011 numbers closely follow the December figures and indicate a trend favoring both home buyers and sellers.  When homes are priced well, there are more buyers out there than last year — a good sign for the overall market.  


Here are the 2011 year-end comparisons:

-   The number of homes sold in 2011 was nearly identical to the sales figure in 2010 — 53,281 versus 53,471.  This represents a drop of less than one percent from last year.

-   The average number of days those homes were on the market was from 133 days in the 2010 compared to 142 days in 2011.

-   The year-end average purchase price in 2011 was $139,717. That figure is down 4.4% when compared to 2010.

-   The median purchase price for homes in 2011 rested at $113,000.


Final conclusions:

When comparing the real estate market in Missouri this year to the market in 2010, a number of conclusions become apparent. The number of homes sold in Missouri dropped only slightly – less than one-half of one percent -- in 2011 over the prior year.  Although home prices fell this year, Fourth Quarter numbers would tell us that the downward trend is easing. It is worth noting that 2010 home sales were boosted by the federal homebuyers tax credit incentive, which expired in July of 2010. Missouri’s real estate market is now seeing respectable numbers without any assistance or distortion from a broad based tax incentive program.

The complete Missouri Association of REALTORS Home Sales Report is available to REALTOR Members in the Market Statistics tab of the Member Resources section at MissouriRealtor.org.  Consumers can view video highlights of the Report on the home page at MissouriRealtor.org.

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Founded in 1936, the Missouri Association of REALTORS® is one of the largest trade associations in the state of Missouri with nearly 19,000 members. Through the collective strength, influence and professionalism of its members, the Association is dedicated to protecting the private property rights of Missouri citizens, promoting real estate as a catalyst for economic and community development, and fostering a business environment in which all members can succeed.