Get the Valuable Insight You Need With Our Real Estate Market Predictions for Central Missouri in 2024 

There is much for homeowners and home sellers to anticipate in the coming year of 2024. Selling a home in mid-Missouri comes with a lot of uncertainty due to the constant change in our modern real estate market. Will selling a home in 2024 be easier? Are more people looking to buy homes next year in the Centralia, MO area? Based on current market trends and the experience of our agents at Adams Realty, here is what you can expect as a home seller heading into the new year. 

In 2024, mid-Missouri will likely continue to be a seller’s market 

Because Missouri has a fairly low housing inventory and there are fewer houses for sale, this actually serves as a benefit for those selling a home in 2024. Since there isn’t as much competition in the real estate market, mid-Missourians can potentially sell their home for a higher price. This advantage could become more and more prevalent in the coming year, so don’t lose hope if you struggled to sell a home in 2023!

Mortgage interest rates are high, but so is mortgage demand in central Missouri 

In recent years, interest rates have been increasing exponentially. As of now, a 30-year fixed mortgage rate in Missouri is 6.375%. On the other hand, mortgage demand is rising as we near the end of 2023, which could reflect a lower interest rate in coming months. It’s difficult to determine how these rates will fluctuate in the coming year, but many real estate experts suggest selling your home in mid-Missouri before they decrease.

The price of buying a home in 2024 may rise for homeowners in mid-Missouri 

According to the consensus of housing market professionals, home prices will continue to rise. In October 2023, the median sale price of a home in Missouri was $248,500 – compare that to $239,800 during the same month in 2022! For sellers in Centralia, MO, this could be a great opportunity to make a good deal on your home.

Get Ready to Sell Your Home in 2024 With Adams Realty! We Are Centralia, MO’s Supportive Real Estate Agency Ready to Help Mid-Missouri Sellers

Even with the real estate market predictions of 2024, the truth is you can never fully predict how your home will sell. Putting a house up for sale in central Missouri can be overwhelming, but it doesn’t have to be with Adams Realty! Our real estate agents will work with you to find a practical solution, making sure your home is set up for success. Learn more about how you can sell your home next year by calling today!