Someone asked me today if the average sales price has gone down this year over last year. I wasn't sure, so I pulled the data from the MLS and prepared the chart below.
Basically, there is no rhyme or reason to the average sales prices over the past couple of years. If you factor in the First-Time Homebuyer Tax Credit of last year, you can see that the average sales price naturally dropped during that period of time, which is undoubtedly due to the average sales price of that particular buyer. However, that correlation doesn't explain this year's drop in sales price during the same period of time. So, I don't think that we can attribute much to the tax credit. It appears that the average sales price naturally drops during that time of year.
Overall, it looks as if the highest average sales price occurs in June, due to contracts written in May. I am encouraged by the rising average that has occurred in the sale prices over the past three months. The activity in our market is definitely on the upswing, and that is evident in this data.
Whether you're in the market to buy a home, or sell a home, in the Springfield, MO, area, it is important to be educated on the local real estate market trends. Let me and my team analyze the data, and provide you with the knowledge you need to be able to make an educated and informed decision on your next real estate transaction.
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