Is O'Fallon, MO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, O'Fallon has remained a Seller's Market.
Housing Prices in O'Fallon, MO
How much do homes in O'Fallon, MO cost?
Median Sold Price
$350,000
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in O'Fallon was $350,000 in May 2024, up 8% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $232K | $242.5K | +4.5% |
3 Bedrooms | $300K | $320.9K | +7.0% |
4 Bedrooms | $412.3K | $430K | +4.3% |
5+ Bedrooms | $503.7K | $531.1K | +5.4% |
Summary: O'Fallon housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
Weldon Spring Township | $350K | $396.6K | +13.3% |
Dardenne Prairie | $413.7K | $450K | +8.8% |
O'Fallon | $324.1K | $350K | +8.0% |
O Fallon | $326K | $347.8K | +6.7% |
Lake Saint Louis Township | $329.5K | $335K | +1.7% |
Housing Supply in O'Fallon, MO
How many homes are available in O'Fallon, MO?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
245 | 269 | +9.8% |
Summary: The O'Fallon real estate market had 269 homes for sale in May 2024, a 9.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 39 | 41 | +5.1% |
3 Bedrooms | 116 | 121 | +4.3% |
4 Bedrooms | 78 | 89 | +14.1% |
5+ Bedrooms | 12 | 18 | +50.0% |
Summary: The O'Fallon housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
94 | 77 | -18.1% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
41 Homes Were Sold
Over Asking
Summary: A total of 77 homes were sold or pending in O'Fallon in May 2024, down by 18.1% month-over-month. Of the 77 sold homes, 26% were sold under asking, 21% were sold at asking, and 53% were sold over asking.
Days on Market for O'Fallon, MO
How long does it take to sell a home in O'Fallon, MO?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 26 Days | +45.0% |
Summary: Homes in O'Fallon had an average of 26 days on market in May 2024, up by 45% compared to last year.
Breakdown of Home Sale Times
60 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During May 2024, 77 homes were sold in O'Fallon; 78% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.