Posted: Jul 24, 2014 5:19 PM by Lee Anne Denyer, KOMU 8 Reporter
Updated: Jul 24, 2014 11:33 PM
COLUMBIA - Housing experts said Thursday it's a good time to buy and to sell in Columbia.
Missouri REALTORS released new data this week indicating more homes sold in June 2014 than June 2013, and the cost of the homes increased, supporting that idea.
The June 2013 Home Sales Result showed:
• 6,800 residential properties were sold in Missouri, a 3.5% increase from June 2013
• The average residential property sold for $191,059, a 12% increase from 2013
• The average number of days on the market dropped to 122, 3 days less than June 2013
The hard data provided in these reports can be used to help support notions that the city of Columbia is growing, but City Planner Steve MacIntyre said these numbers aren't the first thing that comes to mind for home buyers.
"The average consumer who is looking to buy a house is more concerned about the school district, the price of real estate, what amenities are there, how close it might be to jobs, school, other things they care about, " he said.
He said the growth in housing prices and increase in sales resulted from more people moving to Columbia.
"Certainly that would correspond with the perception I have that there's less residential real estate available."
He said he sees more creative approaches to rezoning to accommodate more housing, which he said is reflective of the decreased availability.
"When you've got more demand than supply, basic rule tends to support increase in price," MacIntyre said. " And we've seen housing prices go up."