Missouri’s real estate market exhibits moderate growth in home prices, increased inventory levels, and varied regional dynamics. Here’s a comprehensive overview:
🏠 Statewide Market Overview
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Median Sale Price: In April 2025, the median sale price for homes in Missouri was $269,700, reflecting a 3.9% year-over-year increase.
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Sales Volume: Approximately 6,426 homes were sold in April 2025, a 3.5% decrease compared to April 2024.
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Days on Market: Homes spent a median of 28 days on the market in April 2025, up slightly from the previous year.
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Inventory Levels: The number of homes for sale increased by 6.8% year-over-year, indicating a shift towards a more balanced market.
🌆 Regional Highlights
St. Louis Metro Area
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Median Sale Price: The median home price in St. Louis rose to $295,000 in April 2025, marking an 8.5% year-over-year increase.
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Market Dynamics: The St. Louis housing market remains competitive, with homes selling quickly and often above asking price.
Kansas City
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Median Listing Price: In April 2025, the median listing price in Kansas City was $295,000, with homes spending a median of 42 days on the market.
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Sale-to-List Price Ratio: Homes in Kansas City sold for 104.04% of their listing price on average, indicating a strong seller’s market.
Town and Country
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Median Sale Price: The median home price in Town and Country reached $1,217,500 in April 2025, up 16.6% from the previous year.
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Days on Market: Homes spent an average of 50 days on the market, a significant increase from 24 days the previous year.
📈 Market Dynamics
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Affordability Challenges: Middle-income earners face limited options, with only 21.2% of homes on the market affordable to them, a slight improvement from 20.8% in 2024.
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Mortgage Rates: As of mid-May 2025, the average 30-year fixed mortgage rate in Missouri is approximately 6.92%, contributing to affordability challenges for buyers.
🔮 Market Outlook
The Missouri housing market is expected to continue its trajectory of moderate price growth and increased inventory through the remainder of 2025. While affordability remains a concern, especially with mortgage rates stabilizing around 6.9%, the increase in inventory provides more options for buyers. Regional variations will persist, with areas like St. Louis and Kansas City experiencing steady growth, while luxury markets like Town and Country may see longer listing times.