Missouri Realtors, a trade association representing more than 19,000 Realtors in Missouri, noted a jump in the number of homes sold and higher selling prices in its May 2014 home sales report.
About 6,800 residential properties were sold in May, an increase of 20 percent from April. The total sales volume for the state was approximately $1.2 billion dollars, a 23 percent gain from April.
In May, the average residential property selling price was $171,036, an increase of 10 percent over the previous month. The median residential property selling price also increased to $139,000 and the average number of days for a home to be on the market was 123 days, eight fewer than the previous month.
Compared to May 2013, it was a decrease of 2.2 percent of homes sold in the month of May 2014. Homes sold at a faster rate than in May 2013 with the number of days a home sat on the market dropping four days in 2014.
When comparing May 2014 to April 2014, it showed an increase in home sales by 19.5 percent, compared to homes sold in April. Homes spent an average of 123 days on the market, eight days shorter than the 131 days on the market in April. The average selling price of $171,036 for May increased 10.1 percent from $155,303 in April. The median price of $139,000 for May increased 8.6 percent over the $128,000 for April.
May home sales in Jefferson City
Residential statistics from the Jefferson City Area Board of Realtors multiple listing service:
Category: May 2014 / May 2013
Active listings: 722 / 765
New listings: 225 / 240
Units sold: 87 / 149
Average sales price: $138,119 / $146,458
Average days on market: 106 / 94
Total units sold - year to date: 404 / 471