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2014 Spring Housing Market
JOPLIN, MO.--- As the weather heats up, so does the housing market. Right now, house sales are slow and the harsh winter had a lot to do with that. In fact, since this time last year, the average days a home will stay on the market has quadrupled.
"The average days on market, it varies, between 110 and 130 days before it goes off the market. So in terms of more houses going up, we are slower this quarter of 2014 than we were last quarter," said Lisa Fletcher, Southwest Missouri Keller Williams Realtor.
Lisa Fletcher is a Keller Williams realtor for Southwest Missouri. She says according to the Ozark Gateway Association of Realtors, the average sale time for a home is 16 months. Last year between January and March, the average sale time was four months or less.
"This year, we had a really cold January and so there wasn't a lot of activity in terms of sales, sales were down over the last year," said Fletcher.
However, despite the gap, there is one advantage to selling and buying your home in the winter.
"If you are listing a house near the holidays or in January, you actually have less competition, so there are many sellers who will do that rather than wait until spring when there's more competition," said Fletcher.
She tells us winter buyers are more serious about finding a home. Like Meagan Mallonee, who just closed on her home last Friday.
"Every house we wanted to look at, no one was looking at it. It was cold, we went into some very cold houses, but honestly I would look in the winter versus the spring," said Meagan Mallonee, New Joplin Home Owner.
The housing market will change as the weather warms up. More homes will be listed and more homes will sell.
"We are still in a buyers market, and honestly, talking to professionals we don't see us switching into a sellers market really anytime soon because there are enough houses and there's enough inventory out there, in general," said Fletcher.
Now depending on the price range, there may be a lot of homes, but they may not be good quality homes, making it harder for buyers to find the perfect house.