Michael Nettemeyer of The Nett Group with Realty Executives Presents...
This week's overview of the the O Fallon MO Real Estate Market
The median list price in the O Fallon MO real estate market this week is $219,990. The 265 properties have been on the market for an average of 206 days.
With inventory and days-on-market basically unchanged and the Market Action Index (MAI) decreasing, the O Fallon real estate market is not sending strong directional signal for the near-term outlook.
Supply and Demand
The O Fallon real estate market has started cooling and prices have been flat for several weeks. Since we're in the Seller's zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone, watch for downward pressure on prices.
O Fallon real estate market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate significantly from these levels.
Prices have settled at a price plateau across the board in the O Fallon real estate market. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels.
Price Per Square Foot
The market plateau in the O Fallon real estate market is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
Inventory of Properties Listed for Sale
Inventory in the O Fallon MO real estate market has been relatively steady around these levels in recent weeks.
Market Action Index
The O Fallon MO real estate market is currently in the Seller's Advantage zone (greater than 30). The 90-Day Market Action Index stands at 33.66 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.
Days on Market
The properties have been on the O Fallon MO real estate market for an average of 206 days. Half of the listings have come newly on the market in the past 91 or so days.
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