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July 25, 2024

Kirksville, MO - Real Estate Market Overview 2024

Zoe Harper

Marketing

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Kirksville, Missouri, is a city full of history and new comforts. It shows a booming real estate market. This is seen through big price jumps and fast home sales.

In the last ten years, house values went up by 49.26%, which means a yearly rise of 4.09%¹. As we look at June 2024, home prices rose by 18.2% from the year before. This makes Kirksville's median home sale price stand at $175,000¹.

Houses are selling quicker now, staying on the market for only 19 days, less than 22 days like before. This shows how competitive Kirksville's housing market is becoming¹. Even though there were fewer homes sold in June 2024, only 20 compared to 24 the year before, the market remains strong and vibrant².

Key Takeaways

Significant appreciation rate of 49.26% over the past decade.
Median home price in Kirksville as of June 2024 stands at $175,000.
Homes are selling faster, with an average of 19 days on the market.
Small decline in sales volume, with 20 homes sold in June 2024.
Thriving real estate market indicating competitive buying conditions.
Data sources include Redfin and analysis of MLS data¹ ².

Current Housing Market Trends in Kirksville, MO

The real estate scene in Kirksville, MO is on the rise. There's a big jump in demand lately. This means the housing market in Kirksville is growing strong.

Year-over-Year Home Price Changes

Home prices in Kirksville have really gone up this past year. By June 2024, the median sale price hit around $174,900. That's an 18.2% increase from last year³.

This big leap shows Kirksville's real estate is booming. It's now a top choice for buyers and investors².

Average Days on Market

Homes in Kirksville are selling way faster these days. They’re only staying on the market for about 19 days now³.

This drop shows more people want to buy homes here. It proves Kirksville's housing demand is growing².

Median Home Prices in Kirksville

The real estate market in Kirksville has seen ups and downs lately. Getting to know these trends can help buyers and sellers.

Price Trends by Month

In June 2024, the average list price in Kirksville was about $174,499. The cost per square foot was $188⁴. Prices fell by 16.9% from the month before⁴. Watching these changes helps buyers pick the best time to buy a home in Kirksville.

Median Home Prices by Property Type

Different types of homes in Kirksville have different prices. For example, two-bedroom homes went up by 150.8% last month⁴. Three-bedroom homes kept their prices steady¹. Unfortunately, we don't have enough data on one, four, and five-bedroom homes.

The average home price in Kirksville is around $180,190¹. This gives a big picture of real estate prices in the area¹. Kirksville has almost 5,951 homes and apartments. It shows a detailed view, showing buyers and investors need to be well-informed.

Knowing the differences in home types and their prices helps people make smarter choices. This includes looking at the current average list price in Kirksville and overall housing costs.

Housing Supply and Demand in Kirksville

In June 2024, Kirksville's housing market changed a lot. The number of homes for sale went from four to eight compared to the last month⁵. This meant more choices for people looking to buy. Specifically, the options for two-bedroom homes tripled from one to three listings⁵.

Number of Homes for Sale

The selection of homes in Kirksville got bigger. Now, there are more homes of different sizes available⁵. For example, the market for four-bedroom houses saw growth. This offers more options for those wanting to buy a home in the area⁵.

This increase in homes for sale is great news for everyone in Kirksville. It gives both current and future homeowners more choices⁵.

Buyer vs. Seller Market

The time houses stay on the market in Kirksville is getting shorter⁵. This usually means it's a good time for sellers. As more people want to buy homes, sellers might get better deals. This changing market is something buyers and sellers should watch closely⁵.

Factors Affecting Home Prices in Kirksville

Many things affect home prices in Kirksville. The local economy is a big one because a strong economy can make property values go up. Kirksville's livability score is 65 out of, showing how people view the city in terms of amenities and safety. This score is important for anyone looking to buy or sell a home⁶.

Interest rates are key in deciding home prices too. If interest rates are low, people can borrow more money easily. This usually means higher home prices. But if rates go up, fewer people can afford to buy, which might lower home prices.

Supply and demand also matter in Kirksville. The city offers a good cost of living and quality homes. But, the number of available homes can change this balance⁶. More homes than buyers lead to lower prices. And if more people want to buy than there are homes, prices go up.

Kirksville's population impacts the housing market. With 17,645 people, most of whom are young and not married, the demand for certain types of homes changes⁶. This young and mostly single demographic affects what homes are popular and their prices⁶.

Kirksville ranks well for cost of living (A+) and housing (B), but not so well for amenities, crime, and jobs (all F)⁶. These ratings can help or hurt the real estate market. They make buyers think carefully about moving to or investing in the city.

Comparing Kirksville to Other Missouri Markets

To understand the real estate in Kirksville, we compare its prices and trends with other Missouri areas. It's vital to look at different measures to grasp Kirksville's unique place in the market.

Price Comparison

In Kirksville, the median home price is now $199,900. This is a drop of 4.81% from last month, yet it's up 5.24% from last year⁷. Despite ups and downs, Kirksville attracts buyers more each year. The price per square foot is $116, up 3.32% from last month. It rose by 10.78% compared to last year⁷. This shows Kirksville is becoming a more desirable place to buy a home.

Looking closer, the number of homes for sale in Kirksville is growing. Currently, 93 homes are available⁷. This trend offers a glimpse into the city's healthy market, highlighting its competitive advantage in Missouri.

Demand and Supply Analysis

Demand and supply are key to Kirksville's market insights. Homes here sell in about 58 days, slightly quicker than before but slower than last year⁷. This suggests a market that moves faster than others in Missouri.

New listings in Kirksville also tell a story. There were 32 new listings, down by 5.88% from last month but up 14.29% from last year⁷. Pending listings stand at 41. This is a small drop from last month but a big jump from the previous year⁷. These numbers show Kirksville's market is busier than many others in Missouri.

To get the full picture, looking at Kirksville's active and pending sales is essential. It helps buyers and sellers understand market changes.

For in-depth Missouri market details, check out this Missouri real estate market summary ⁷.

Buyer's Guide: What to Know Before Purchasing in Kirksville

When you think about buying a home in Kirksville, it's important to get to know the area well. You should look into what makes each neighborhood special. Plus, check out the Kirksville school systems. Knowing these things helps you make a smart choice.

Neighborhood Profiles

Kirksville has different kinds of neighborhoods to suit everyone's taste. If you like being where things happen, the downtown area is perfect. It's full of shops and places to eat. For a calmer vibe, the suburbs are great for families. They offer peace and quiet. Tools like Redfin show what each area is like. They give info on homes, and track how prices change over time⁸. See what homes are available in for more details about the neighborhoods.

School Districts

The schools in Kirkville are a big deal for families thinking about where to live. Good schools can make a neighborhood more appealing. They can even affect how much homes are worth. The Kirksville R-III School District is well-regarded for its focus on academics and extra activities. Redfin's data shows that these qualities make the area attractive. It influences where people decide to buy homes⁸. By looking at educational resources and school data, parents can find the best place for their kids to learn and grow.

Seller's Guide: Tips for Selling Your Home in Kirksville

When selling your home in Kirksville, aim to make the most profit. Key strategies include preparing your home for showing and pricing it effectively. These steps ensure a smooth selling process, leading to the best results.

Preparing Your Home for Sale

Start by making your home inviting to buyers. Home staging in Kirksville involves arranging furniture and decor to make spaces look appealing. MORE, REALTORS® suggest tailoring staging to highlight your property’s best features based on neighborhood appeal⁹.

Don't forget about repairs and minor renovations. Improving the exterior and updating key areas like the kitchen and bathrooms can make your home more attractive. A well-prepared home can sell faster and for a higher price⁹.

Pricing Strategies

Setting the right price in Kirksville is crucial for attracting buyers and closing quickly. Knowing the local market trends helps you price your home competitively. MORE, REALTORS® recommend a thorough market study to price your home wisely, considering recent sales and demand⁹.

Also, think about local income levels and property taxes. These factors affect what buyers are looking for and what they're willing to pay⁵. A well-thought-out pricing strategy can make your sale more successful.

By focusing on good staging and smart pricing, selling your home in Kirksville can be more efficient. These methods help sellers navigate the market and get the best outcome for their sale.

Future Predictions for Kirksville's Real Estate Market

The real estate outlook in Kirksville is both complex and hopeful. Many experts say that several factors will shape the city's housing trends. These include economic policies, demographic changes, and new developments. This info is useful for anyone looking to buy or sell property in Kirksville.

Expert Opinions

Real estate gurus examine Kirksville's forecast by looking at local perks, average home prices, and community appeal. The outlook seems bright, thanks to the city's welcoming vibe, low crime, and parks like Thousand Hills State Park. These aspects shine a positive light on Kirksville, attracting investors and families seeking a great place to live ¹⁰.

Market Influencers

Several things significantly impact Kirksville's real estate scene. Housing costs play a big role, based on lot size, rent, and utilities. Rent price assessments focus on average and high-quality apartment rents per square foot¹¹. The city's schools and safety also make it more appealing, lifting the housing outlook¹⁰.

Kirksville's diverse properties and economic prospects are key to its real estate market. Utility deposits, waste services, and trash collection affect the overall market outlook¹¹. Truman University adds to the city's charm too¹².

While certainty in predictions is impossible, understanding these factors clarifies Kirksville's real estate future. Stakeholders can make better choices, boosting the city's property trends.

Conclusion

The real estate market in Kirksville, MO, is lively and full of promise. Factors like increasing home values and a competitive selling scene play a huge role. They give both buyers and sellers a clear view of the market's future. By looking into population growth over years, we see how important demographics are. They shape investment plans in Kirksville⁵.

For those renting out properties, the average rent is a key sign of how profitable real estate can be⁵. With property listings doubling from May to June 2024, it shows a market that is growing fast. This is great news for anyone looking to buy or sell. As of June 2024, the average price for a house in Kirksville is $174,499. This suggests the economy is doing well³.

School quality and easy access affect the market, too. Top-rated schools draw in families. This means rental homes stay filled⁵. Properties near major roads are also more appealing, especially for businesses⁵. These points altogether give us a detailed look at Kirksville's market. It tells us Kirksville is ripe for real estate ventures. Kirksville's property scene is bursting with chances for everyone, supported by strong data and seasoned advice.

FAQ

What is the current trend for home prices in Kirksville, MO?

As of June 2024, Kirksville, MO saw home prices jump by 18.2% from the year before. The median sale price hit around $175,000.

How long do homes typically stay on the market in Kirksville, MO?

In June 2024, homes in Kirksville were selling faster. They stayed on the market for 19 days, down from 22 days the previous year.

What is the median list price of homes in Kirksville?

The median list price for a home in Kirksville was about $174,499 in June 2024. Each square foot cost approximately $188.

How did the housing inventory change in Kirksville recently?

June 2024 saw the number of homes for sale in Kirksville grow to eight. In May 2024, there were only four. This shows more homes are now available.

What factors are influencing home prices in Kirksville?

Home prices in Kirksville are shaped by several things. This includes the local economy, interest rates, supply vs. demand, and new developments

How does Kirksville's housing market compare to other Missouri markets?

Kirksville's housing market stands out in Missouri. Changes in home prices and the number of homes for sale are notable when compared to other areas.

What should buyers consider before purchasing a home in Kirksville?

Buyers should look into Kirksville's different neighborhoods and recent market trends. They should also consider school district quality. These can all affect home values.

What strategies should sellers use in the current Kirksville market?

To do well in Kirksville's market, sellers should make their homes appealing. They should also set the right prices considering recent market changes and demand.

What is the forecast for Kirksville’s real estate market?

Future trends in Kirksville's market look promising but are uncertain. Predictions are based on economic policies, demographic changes, and new projects suggesting growth.