I had to give a presentation to a group of local business owners this past week and discuss my business. The one question I am ALWAYS asked is, "How's the market?" So....I decided rather than talk about it, I'd show them. I prepared a few graphics for the presentation to really show how the Springfield MO real estate market is faring.
This first graph shows the number of single family home sales in Greene and Christian counties each year since 2000. It's obvious from this that our market peaked in 2005.
This next graph shows the number of single family homes sold in Greene and Christian counties from January 1, 2010, through present. The number of homes sold in February of 2011 is somewhat inaccurate in that my data was pulled on 3/1/11, when many companies had not yet reported their end of the month sales to the MLS yet. What you CAN see here is how much stronger the market was in January of 2011 compared to January of 2010. You can also clearly see the effect the first-time homebuyers tax credit had on the market.
This next graph shows the average sales price of single family homes sold in Greene and Christian counties since 2000. This average is very relative considering many of the home sales in 2006 and 2007 were in the higher price ranges, which will have an effect on the overall average sales price. Considering the incredible crash in values experienced in other parts of the country, Southwest Missouri has done very well.
This last graph is my favorite. We have many buyers who come to our area from out of state. When I tell them that we are still selling (on average) within 95% of list price, they look at me like I'm from outer space. Their typical response is, "So you didn't experience the market crash like everyone else?" The answer is....yes, we did. However, in our area, it is not common to negotiate much more than 5% from list price. The key here is that if the home is priced right, it will sell. If a home is overpriced....it won't. Once a home is priced competitively, ALL buyers can recognize the value. This graph is representative of the average list-to-sales price ratio, broken down by the number of days on the market.
The Springfield MO real estate market is still alive. We may have taken a blow, but it did not knock us down. The key to selling your home in the Springfield, MO, area is easy. You have two battles to win before you can win the war. In this case, the war is not the "sale," the war is the "offer." What are the two battles you must win? The Beauty Pageant, and the Price War. Win those two, and you will win the offer.
Call or email me if you are buying a home or selling a home in the Springfield, MO, area, and would like more information.
Click Here to Search Springfield MO Homes For Sale
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Lina Robertson Jones
Owner/Agent
RE/MAX Solutions
1715 James River Road
Ozark, MO, 65721 |
Mobile: (417) 844-7265
linarobertson@remax.net
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RE/MAX - Outstanding Agents, Outstanding Results!
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About the author: I am full-time REALTOR® with RE/MAX Solutions in Springfield, MO, and a member of the Greater Springfield Board of REALTORS®. I have helped hundreds of families in the Springfield, Nixa, Republic and Ozark real estate markets, whether buying a home, or selling a home. Visit my website at www.ozarks-realestate.com to search for All Springfield MO Area MLS listings. Want to know what our market is like? My website is also an excellent resource for current Springfield MO Area Real Estate Market Reports, as well as current market reports for Ozark, Nixa, Republic, and Rogersville.
Too bad I wasn't an agent here in 05-07! looks like good money to be had! :) Have a productive week Lina!
Tammy - wow, I was surprised to see you're right here in Ozark! Nice to meet you! And nice to see you here in the 'Rain!
In most markets, we appear to be right where we would have been if the boom-then-bust had never happened.
Hopefully we can all avoid BOTH in the future.
how do you create those graphs does Remax have a program that does it for you?
Another great graphic display of the housing market in Springfield, thanks Lina…
Jim and Paul - Thanks so much! Great to see you both again!
Marilyn - no, I've learned how to export data from my MLS, put it in an Excel pivot table and create the graph from there. It's very easy. I'm going to be doing a tutorial for the agents in my office. I'll share it with you. :)
Lina,
You're correct. Winning the war of the offer begins to change the complexity of the market. Good graphics on this blog! g