Springfield home sales make up 8% of state total

While Springfield home sales represented roughly 7.7 percent of Missouri’s total in March, the city lagged in comparable statistics statewide, according to data from the Greater Springfield Board of Realtors and Missouri Realtors.

During March, home sales in the Queen City totaled 628, a 12.5 percent drop from 718 in the same month of 2017, said GSBOR CEO Miles Noennig.

In the same month, sales across the state came to 8,201, an 82.3 percent increase from 4,498 in March 2017, according to a news release from Missouri Realtors, a trade association for real estate agents with more than 20,000 members.

“Listing inventories continue to be very tight,” Noennig said via email of the Springfield market. “I think there's talk about a hot market because properties are selling quickly as buyers seem to outnumber available listed properties.”

Noennig said the Springfield market’s average selling price for homes was $164,000 in March, marking a 2.4 percent increase from a year earlier. Comparatively, the state’s average selling price rose 7.2 percent to $184,020 in March.

Missouri’s total sales volume climbed 95.4 percent in March to $1.5 billion. In Springfield, sales volume decreased 10.4 percent to $103 million, according to Noennig.

“Spring is bringing with it much greater buyer demand,” said John Sebree, CEO of Missouri Realtors. “A shortage of inventory is causing prices to increase and days on market to fall dramatically.”

For GSBOR’s coverage area — Greene, Christian and Webster counties — units were down 2.2 percent, average selling price declined by 1.1 percent and closed volume fell 3.2 percent, Noennig said.