COLUMBIA, Mo.– Missouri REALTORS® is pleased to share with you a monthly statistics report highlighting the Missouri real estate market for the month of July.
In July, Missouri REALTORS® sold 7,876 residential properties. Of those sales, the average residential property sold for $295,409. Compared to the average sale price of $272,774 in July 2021, there was an 8.3% increase. The median residential sale price also increased from $230,000 in 2021 to $250,000 in 2022.
In terms of total dollar volume, Missouri REALTORS® saw a decrease of 6.9 percent. Over 2.3 billion dollars in July 2022 was generated compared to 2.4 billion dollars for the same period last year.
Additionally, interest rates in July saw a slight decrease. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 5.41 percent in July compared to 5.52 percent in June. By comparison, the interest rate in July 2021 was 2.87 percent.
Visit Market Statistics to view a full report of the data presented, including additional resources and information.
Founded in 1936, Missouri REALTORS® is the largest trade association in the state serving over 25,000 members. As members of organized real estate, REALTORS® subscribe to a strict code of ethics and have access to numerous services and programs to enhance their professionalism within the real estate industry. Through collective strength, influence, and professionalism, Missouri REALTORS® unite to advocate for real property rights in Missouri, deliver comprehensive risk management programs and services, connect members through various media and events and deliver association management services.