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January 2021 Market Statistics

By Missouri REALTORS posted 02-24-2021 02:54 PM

  
Statewide market statistics for January of 2021 are in, and the year is officially off to a stellar start. In comparison to January 2020, Missouri REALTORS® have sold more houses at higher prices. Across the board, our market statistics reveal significant growth—growth in residential properties sold, residential sale price and total dollar volume. 


A quick look at the numbers and an analysis of national statistics reveal that January had very little impact on this red hot real estate market.

  • Home sales in the state of Missouri experienced a major increase since last January. Missouri REALTORS® sold 5,403 residential properties. This was a 20% increase compared to January 2020. 
  • Of those sales, the average residential property sold for $234,973. Compared to the average sale price of $190,522 in January of 2020, there was a 23.3% increase.
  • The median residential sale price also grew substantially, from $160,000 in 2020 to $191,788 in 2021, a 19.9% increase.
  • In terms of dollar volume, Missouri REALTORS® saw an excellent increase of 48%. You read that right, an almost 50% increase. We brought in over 1.2 billion dollars compared to the dollars 857 million dollars in 2019. 

    From a national perspective, you’ll notice that REALTORS® from all over the United States experienced a similar January marketplace. Demand for housing is way, way up everywhere. In large part, we can attribute this to the low mortgage rates resulting from the pandemic, as well as a change in lifestyle. Because working from home is becoming the new normal, homeowners are now searching for comfortable spaces that foster a productive work environment.

    According to the REALTOR® Magazine, “Owners who were content with their home before the pandemic are thinking about the benefits of another bedroom to use as a dedicated home office or are considering relocating to the countryside, knowing that commuting to downtown offices every day has become a thing of the past.”

    For more insight on the market statistics from January 2021, be sure to watch the breakdown video with our Missouri REALTORS® CEO John Sebree, coming soon.

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