The spring selling market in Columbia had been historically strong for many years and this year is no exception.
Home Sales Summary (Columbia, MO) February 2018 -
- The average home sales price increased 26.3% from $160,843 in 2017, to $203,239 in 2018.
- Cumulative days on market fell 6.12% from 98 days in February 2017 to 92 days in February 2018
- 250 listings went under contract which is down 14.7% from 2017
- 168 listings closed this month, a 20.3 % increase from 2017
- There were 342 new listings added in February which is down 14.3% from February 2017
- There is currently a 3.63 months supply of homes on the market
What does this mean for you?
If you are considering listing your home, now is the time to get it on the market! A neutral market supply of homes is around 5 to 6 months. With our local market sitting around a 3.63 months supply this is definitely a seller's market. Inventory is low and homes are selling shortly after they hit the market. Listings in the $100,000 - $400,000 price point are selling the quickest. You can use our website to generate an Instant Free Valuation Report for your home!
If you are in the market to purchase a new home. Now is the time to connect with a real estate agent. With new homes hitting the market for sale every day (and some of them selling in just ONE day) you want to make sure you have an agent that is keeping an eye out for your perfect home. At Boulder Realty, we do not charge our buyer's a dime for our services. Contact Us today to get your home search started!