5 Things To Know About the Springfield Mo Real Estate Market
Home sales may be down, but the Springfield MO real estate market remains strong. Here's a few reasons why:
1. Buyers are more patient. Homes are taking longer to sell, but buyers are looking at everything in their price range and 
waiting for that "great buy" to come along. I've seen buyers looking at the market for over a year before they buy the right home.
2. Homes are better staged. I've seen more Springfield Mo homes getting staged before they are listed. First impressions are lasting when potential buyers have more homes to choose from. Sellers may have to paint, recarpet and upgrade in order for their homes to sell.
3. Be the best on the market for the least amount. According to the Springfield Multiple Listing System, the median price home fell to $107,700 in April, 2011, down from $107,950 in April, 2010. Not much change, but I see homeowners adjusting their prices from the down market for several years. Homes under $100,000 seem to be the best seller. Pricing your home agressively may bring you more than a full price offer.....may even cause buyers to get into a bidding war.
4. New construction is down, allowing home buyers to only purchase existing home. With the number of listings down, homebuyers can not pick and choose floor plans, colors or flooring when purchasing a home. But new construction is slowly beginning to return to our Springfield Mo real estate market. Looking for an existing home, in great condition can save a home buyer time and money.
5. Interest rates are still at an all time low. This week I saw a 30 year fixed rate mortgage at 4.5%. Not if that's not a great reason to buy a Springfield Mo home, nothing is.
Come on down to Springfield Missouri. Our team is here to assist you.
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