Columbia, Missouri real estate market update-sales are up!

Real Estate Agent with Re/Max Boone Realty

Our 2009 summer housing numbers indicate our market is going against a national trend. Our sales have increased this year over last year according to data from the Columbia Board of Realtors. In July this year we had 211 single family homes sold, compared to 182 homes for last year. Existing homes continue to enjoy a strong market but new construction sales are soft. For July there were 19 new homs sold compared to 23 in 2008. Part of the reason for this is supply. Our highest new home sale number for July was 76 in 2005. Last year there were 375 new homes on the market compared to 161 for this year. Without supply, sales decrease. The median house price has decreased slightly from $152,200 last year to $150,000 this year. The slight decrease might be a result of the boom in first time home buyers. We had 80 buyers in July that were anticipated to receive the up to $8000 tax credit. Thanks to Carol Van Gorp, CEO of Columbia Board or Realtors from providing the facts and figures for this market update.

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