Is O'Fallon Township, 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 Township has remained a Seller's Market.
Key Takeaway
O'Fallon Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in O'Fallon Township, MO
How much do homes in O'Fallon Township, MO cost?
Median Sold Price
$280,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in O'Fallon Township have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in O'Fallon Township was $280,000 in May 2024, up 9.2% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $179.9K | N/A |
| 2 Bedrooms | $215K | $237.9K | +10.7% |
| 3 Bedrooms | $260K | $285K | +9.6% |
| 4 Bedrooms | $387.9K | $365K | -5.9% |
| 5+ Bedrooms | $318.5K | $404K | +26.8% |
Summary: O'Fallon Township 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 10.7%, 3 bedroom homes increased by 9.6%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes increased by 26.8%.
Median Sold Price Compared To Nearby Cities
| Saint Peters Township | $285.2K | $315K | +10.4% |
| Dardenne Township | $319.9K | $350K | +9.4% |
| O'Fallon Township | $256.3K | $280K | +9.2% |
| Cottleville | $380K | $413.5K | +8.8% |
| Saint Peters | $279K | $300K | +7.5% |
Housing Supply in O'Fallon Township, MO
How many homes are available in O'Fallon Township, MO?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 75 | 69 | -8.0% |
Summary: The O'Fallon Township real estate market had 69 homes for sale in May 2024, a 8.0% decrease 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 | 24 | 19 | -20.8% |
| 3 Bedrooms | 41 | 35 | -14.6% |
| 4 Bedrooms | 8 | 13 | +62.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The O'Fallon Township 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 decreased by 20.8%, 3 bedroom homes decreased by 14.6%, 4 bedroom homes increased by 62.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 16 | -57.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in O'Fallon Township, you could pay more than the asking price. 37.5% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in O'Fallon Township in May 2024, down by 57.9% month-over-month. Of the 16 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.
Days on Market for O'Fallon Township, MO
How long does it take to sell a home in O'Fallon Township, MO?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 27 Days | +106.0% |
Summary: Homes in O'Fallon Township had an average of 27 days on market in May 2024, up by 106% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in O'Fallon Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in O'Fallon Township; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.