Webb City MLS Area Market Report for August 2007

By
Real Estate Broker/Owner with Oak Creek Realty Group LLC MO# 1999078273

My team and I continuosly monitor local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Ozark Gateway Association of REALTORS® area real estate statistics for the period July 2007 as compiled by the Ozark Gateway Association of REALTORS®.

 

Webb City Area Market Condition Report

Month/Year

New Homes on the Market

Total Active Homes on the Market

Homes Sold for the Period

Homes Under Contract

Homes that Expired

Homes that were Withdrawn

Ratio of Homes Entering the Market vs Leaving

Price Changes

Average Days on Market for Solds

List/Sale Price Ratio

 Median Sales Price

Inventory Absorption Rate in Months

April-07

69

210

34

48

58

10

0.68

25

134

98%

 $105,500.00

6.18

May-07

68

221

29

34

30

13

0.94

31

106

96%

 $104,500.00

7.62

June-07

46

216

22

38

15

11

0.96

48

149

97%

 $143,000.00

9.82

July-07

60

217

20

41

29

20

0.87

65

110

97%

 $  94,145.00

10.85

August-07

53

219

25

36

28

4

0.93

49

116

97%

 $  79,500.00

8.76

September-07

 

 

 

 

 

 

 

 

 

 

 

 

October-07

 

 

 

 

 

 

 

 

 

 

 

 

November-07

 

 

 

 

 

 

 

 

 

 

 

 

December-07

 

 

 

 

 

 

 

 

 

 

 

 

January-08

 

 

 

 

 

 

 

 

 

 

 

 

February-08

 

 

 

 

 

 

 

 

 

 

 

 

March-08

 

 

 

 

 

 

 

 

 

 

 

 

YTD Avg

59.2

216.6

26

39.4

32

11.6

0.88

43.6

123

97%

 $105,329.00

8.65

Two numbers that deserve some explanation are the Ratio of Homes Entering the Market vs. Leaving the Market and the Absorption Rate. The Ratio is an indication of where the market is headed in general. A ratio below 1 indicates that the inventory is being pulled down whereas a ratio above 1 would indicate that we are adding to the inventory. The Absorption rate indicates how quickly the inventory is being absorbed or sold. For a given month the absorption rate shows how long in terms of months it would take to sell off the entire inventory if nothing else came on the market and if sales stayed stagnant at this month's level. The ratio will tell you if you're headed toward a buyer or seller's market while the absorption rate tells you where you are now. For instance, For August in Webb City the ratio is 0.93 which tells me that we are adding inventory at a rate somewhat slower than we can dispose of it. On the other hand, with an absorption rate of 8.76 in August I know that Webb City is in a buyers market for the moment but will likely recover rather quickly. When watching the absorption rate a number between 5 and 6 months indicates a normal market. A number at or below 4 months indicates a sellers market and a number at or above 7 months would indicate a buyers market.

If you would like a free list of homes for sale anywhere in the area, I'd be happy to help you in anyway that I can. Please give me a call at:

Walter Hayes, GRI, ABR, RECS, e-PRO

Keller Williams Realty of Southwest Missouri

531 E 15th St

Joplin MO 64804

417-649-67776

http://www.walterhayes.com/; http://thehayesteam.com/; http://www.showme-realestate.com/; http://www.joplinmohomesforsale.com/

Email: walter@walterhayes.com

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Walter Hayes

Keller Williams Realty of Southwest Missouri

619 S Florida

Joplin, MO 64801

Office: (417) 623-9900

Walter: (417) 649-6776

Fax: (512) 519-7578

E-Mail: walter@walterhayes.com

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