Average MO home price increases 9.4%

Missouri real estate agents sold homes at an average price of $148,193 in September, a 9.4 percent increase compared to $135,517 in the same month of 2011.

Agents sold 4,930 homes during September, roughly flat from a year ago, according to the latest monthly home sales report released last week by the Missouri Association of Realtors.

September home sales declined from a figure of 6,215 in August, something expected by the association due to the change of seasons and children going back to school.

"As with seasonal temperatures, real estate goes through cyclical changes and the latest statistics are typical of the change in the market as temperatures dip," the release said.

Compared to the same month in 2011, the average median price for homes sold in September rose 10.5 percent to $121,500. Homes sat on the market for an average of 135 days, down from 146 in the same month last year.

Third-quarter results:

• Realtors sold 17,192 homes, an 11.3 percent increase compared to the same quarter of 2011.
• The average price of homes was $150,764, a 6.4 percent increase, and the average median price rose 7.3 percent to $124,500.
• Compared to third-quarter 2011, homes sat on the market an average of six days less in the latest quarter, the release said.