Home Sales in Ozark MO are… UP!
Home sales in Ozark MO are on a tear! That’s not to say that we’re totally off to the races, but things are looking up. There were 26 sales of homes in Ozark in January compared to 23 in the same month last year, a 13% increase. Don't worry, there's more to the story than a measley three unit increase! In December, 2012 there were 45 home sales in Ozark compared only 28 in December, 2011. That’s a 60.7% increase! Wow! For all of 2012 home sales in Ozark MO increased almost 12%, from 409 in 2011 to 458 in 2012.
Pending home sales in Ozark also rose considerably in January. 47 homes went under contract in January compared to 28 homes in January, 2012, a 67.8% increase! Since pending sales in one month feed actual sales in the next month, February sales should be excellent!
Similarly to Springfield, while actual and pending home sales in Ozark MO are increasing, the number of homes on the market is continuing to fall. The number of homes for sale in Ozark dropped from 222 in January, 2012 to 196 in January, 2013, an 11.7% drop. That is very significant because of the potential impact on prices. Higher sales plus lower inventory means the potential for rising prices. Woo hoo!!
The five year chart below really shows how inventory has fallen.
Prices on home sales in Ozark MO appear to be starting to rise as well. For all of 2012 median prices were up just a bit over 4%. That’s a good thing, but, again, it’s not “off to the races”. However, the median selling price in January was up 17.5% compared to January, 2012 ($157,500 in January, 2013 compared to $134,000 in January, 2012)!! Now don't get overly excited just yet because one big month does not make a trend. Plus, Ozarks overall sales numbers are comparatively small and just a couple of sales at the high end (or the low end for that matter) can skew the numbers dramatically. It's best to take the January numbers with a grain of salt. Full year 2013 numbers will be more telling. Even so, it's still encouraging to see positive numbers start to creep back in.
If you are considering selling your home in Ozark this may be the best time in years to do so. Call me today 417-234-8198 for a no hassle consultation. Cheers!
This article was also posted on my website blog.