Average MO home price increases 4%

The average price of homes sold by Missouri real estate agents in the state increased 4.1 percent to $142,721 in October, compared to $137,131 in the same month of 2011.

Agents sold 5,369 homes during the month, a 21.7 percent increase compared to 4,410 in October 2011, according to the latest monthly home sales report released yesterday by the Missouri Association of Realtors.

Compared to the same month in 2011, the length homes sat on the market decreased 6.9 percent to 134 days.

October home sales increased from 4,949 in September. In September, however, the average price of homes sold was $147,997, meaning the average price dropped 3.6 percent in October, according to the report.