February 2024 Rolla Housing Market Update

Let's take a deep dive and look at what's happening to the housing market in our hometown of Rolla, MO! 

Average Sales Price

Time and time again we've watched homeowners lives completely change when they discover the GOLD MINE that's hiding in their home.

With the average sales price UP year over year... this means your equity is likely also UP year over year.

Here's what leaves us scratching our heads confused. When we make investments in the stock market or any other account, we check on them almost daily... yet when it comes to a home (one of the biggest investments you can make) homeowners rarely check it.

Don't fall behind! Check on your home value HERE!

Number of New Listings and Overall Inventory

I wanted to talk about these stats together. With New listings UP and overall inventory DOWN... it may seem confusing. In reality it tells a story.

In the span of 30 days we saw 39 new listings enter the market (more than a listing a day). This provided some relief to a low inventory market - however, with inventory already gridlocked it still ended up lower than last year due to SUPPLY and DEMAND.

What does this mean? There is HIGH demand for homes right now. Buyers are actively looking and the supply of homes is LOW.

Sellers... are you picking up what we're dropping?? There is massive demand for YOUR HOME! If you're considering selling these stats tell us that NOW is the time.

Closed Sales

This is where looking at numbers is one thing... and being in the market talking to hundreds of buyers and sellers gives us a different picture. In January we saw over 4,400 hands raise at the opportunity of working with us to buy or sell their home 😳

Additionally, when homes are priced right, we are moving very quickly. Last month alone we had multiple listings go under contract with in 48 hours on market (for at or near the original list price!)

There is massive momentum happening right now in our local market, and buyers are MOTIVATED and SERIOUS.

Days on Market

This increased, but we're making a prediction that this will go back down as we inch closer to warmer weather.

The PREPARED Agent, Seller and Buyer will WIN in our current market.

✅ When a seller has access to the RIGHT pricing and advanced marketing - their home sells faster and for more money.

✅ When a buyer is educated and has the right expectations walking into the real estate market - they will be set up for success and have a winning offer.

✅ When the agent is equipped with the best environment, resources, training, marketing and assistance - that agent will be serve their clients at a higher level which sets them up for success and provides a smooth and successful experience.

(not to brag but our agents are pretty amazing and would love to help provide you with the elite experience you deserve)

Months Supply

Why track this stat? This is one of the leading indicators that tells us if we are in a buyers market or a sellers market. When inventory drops below 6 months, we are in a sellers market.

With our current inventory, we have just over a 2 months supply of homes. This is massive for sellers as there is high demand for your home!

Deep dive done! 😅

We're curious... what are your thoughts? Comment and let us know what you think is going to happen in our Real Estate market this year.

Do you want to Buy or Sell your home?

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