What's Happening?
In Boone County, the median home list price for September was $412,450, slightly down from $415,000 in the previous month, as reported by Realtor.com. Compared to September 2024, the median price saw a minor
decrease from $413,750. The median home size was 2,040 square feet, with a listing price of $199 per square foot, which is a 2.4% increase from the previous year. Homes were listed for a median of 51 days, shorter than the national median of 62 days. The number of new listings in September was 214, a 10.1% decrease from the previous year.
Why It's Important?
The slight decrease in median home prices in Boone County suggests a potential stabilization or cooling in the local real estate market. This trend could provide opportunities for buyers seeking more competitive pricing, while sellers may face challenges in achieving higher sale prices. The shorter listing period compared to the national average indicates a relatively active market, which could benefit real estate professionals and local businesses dependent on housing transactions. However, the decrease in new listings may signal a tightening inventory, affecting future market dynamics.
