What's Happening?
In Greene County, Missouri, the median home price listed in July was $324,950, marking a 1.4% decrease from June's $329,499, according to data from Realtor.com. This decline also represents a 1% drop compared to July 2024. The median home size was 1,873 square feet, priced at $168 per square foot. Homes in Greene County were listed for a median of 47 days, slightly longer than the previous month's 45 days, but shorter than the national median of 58 days. The number of new listings in July increased by 11.5% from the previous year, with 464 homes entering the market. Across the Springfield metro area, median home prices fell to $337,699, with homes averaging 1,920 square feet at $170 per square foot. Statewide, Missouri's median home price remained steady at $311,000.
Why It's Important?
The slight decrease in home prices in Greene County reflects a broader trend seen across the United States, where the median home price was $439,450, a small decline from the previous month. This trend may indicate a cooling in the housing market, which could affect both buyers and sellers. For buyers, lower prices may present more affordable opportunities, while sellers might face longer listing times and potentially lower returns. The increase in new listings suggests a more competitive market, which could further influence pricing and sales dynamics. Understanding these trends is crucial for stakeholders in the real estate market, including potential homeowners, real estate agents, and investors.
