Curb Appeal: High-end listings seek combined $9.5M

RELATED

Low home inventory, interest rates keep houses flying off the shelf

A Conversation With ... Clayton Rothschild

Opinion: Tips for navigating rising mortgage rates, low inventory

High-end home listings in Springfield made a strong showing in May.

For the monthly editorial series Curb Appeal, Springfield Business Journal compiled a list of 12 single-family homes within city limits that hit the market last month with asking prices of $500,000 or more. The number in May is up from five in April but down from 20 in March.

Real estate owners are collectively seeking $9.5 million for the 12 homes listed last month. The highest-priced residence of the month, seeking $1.3 million, sits on roughly 65 acres north of Interstate 44 in far west Springfield.

Average home prices in the area and state are lower than the $500,000 mark set by SBJ for the Curb Appeal series.

In the Greater Springfield Board of Realtors Inc.'s coverage area, the average sale price for homes in April was $231,353. Sold homes spent an average 22 days on the market, according to the most recent data available.

Statewide, 7,783 residential properties sold in April at an average price of $254,631, according to Missouri Realtors data released late last month.

"We'll see more inventory come to the market later this year as further COVID-19 vaccinations are administered and potential home sellers become more comfortable listing and showing their homes,” said Lawrence Yun, NAR's chief economist, in a news release.