Greater Springfield, Missouri June Real Estate Market Update
- Bailey Zahn
- Jul 8, 2024
- 1 min read
Updated: Jul 16, 2024
Curious about the current market in the Springfield, Missouri area? Here is a real estate market update with data drawn from June 2024.
Home Prices and Sales
The median home price in The Greater Springfield area in June 2024 was approximately $280,000, showing a slight increase of 2.2% from the same time last year. The average sale price for June 2024 came in at $311,799, keeping pace with the average sale price of $312,377 in June of 2023.
Total June home sales volume is up about 3.8% year-over-year, which is an encouraging change as compared to previous months.
Inventory Levels
There were 462 new listings for Greene County in the month of May, up 10% from last year. This is encouraging, as we continue to have more willing buyers than inventory on the market.
Mortgage Rates and Affordability
Mortgage rates are up from last year at an average of 6.86% as compared to a national average of 6.96% in May of 2023.
Springfield remains more affordable compared to many other metropolitan areas in the United States, making it an attractive destination for those looking to relocate from higher-cost regions.
As always, staying informed and working with a knowledgeable real estate professional can help navigate this evolving market landscape, ensuring you make the most of Springfield's real estate opportunities.
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